New Board of Directors of Meinl Airports Sets Up Own Corporate Structure

Jersey (OTS) - During the last four weeks, the newly elected Board
of Directors of Meinl Airports International (MAI), which was voted
into office by shareholders on July 28, 2008, has initiated all the
measures required to create an efficient corporate structure and to
ensure the company's future autonomy from Meinl Bank. At the same
time, the management has implemented a comprehensive evaluation of
the company’s status and financial position, which is scheduled to be
completed in September 2008. The results of this assessment will
serve as the basis for a strategic reorientation, whose underlying
purpose will be to increase the share price as quickly as possible in
order to bring it closer to the actual net asset value of the
company. Reporting standards will be adapted to conform to those
applied by companies listed on the Prime Market of the Vienna Stock
Exchange.

Up until now, MAI was more or less a virtual company without its
own administrative infrastructure. As a result, the documentation of
the investment and business activities were initially available only
to Meinl Bank's subsidiary Meinl Airports Managers (MAM), and then
successively passed on to the company. It is not possible to carry
out an accurate assessment of the company's status without access to
the relevant documents. Efforts to implement this project have been
complicated by the fact that MAM’s Operational Managing Director
Roman Himmler surprisingly handed in his resignation effective August
27, 2008.

In the future, MAI itself will be responsible for processing and
storing all relevant documents at a minimal administrative expense,
in order to provide a reliable basis for its decisions. For this
purpose, the new Board of Directors led by Chairman of the Board
Wolfgang Vilsmeier and his two Deputy Chairmen Björn Pirrwitz and
Hans-Peter Dohr have named Holger Gantz to be the overall coordinator
of the project. He will be responsible for the preparation and
controlling of the operational implementation of all the decisions
made by the MAI Board of Directors.

Further steps to ensure the dissolution of MAI's business
relationships to Meinl Bank were successively taken. For one thing,
the market maker agreement with Meinl Bank was terminated. Other
banks have presented offers at much more advantageous terms and
conditions than those of Meinl Bank. In addition, shareholder liaison
and support will no longer be the responsibility of Meinl Bank
employees, but has been entrusted to Hochegger Financials, a company
specializing in investor relations. Furthermore, a new legal advisor
and a new administrator for MAI on Jersey have been appointed, both
independent of Meinl Bank.

At present, MAI is working to optimize the investments of its cash
positions, currently totaling about EUR 375 million. These funds are
currently deposited at only one bank. "We no longer want to tolerate
this type of concentration risk in the future", says Vilsmeier.
"Instead, the investments will be spread among several banks in the
upcoming weeks, in order to take advantage of more favorable terms
and conditions and minimize our risk".

Moreover, the Board of Directors of MAI is also working on
improvements in its disclosure and reporting practices, and to ensure
an effective system of corporate governance. Both measures will take
effect as of the 2009 financial year. Accordingly, MAI is committed
to operating in line with those principles applying to companies
listed on the Prime Market of the Vienna Stock Exchange, even if MAI
is listed on the unregulated third market. Starting in 2009, MAI will
publish its annual results within the first four months of the year,
and its interim results within two months after the end of the
respective quarter.

Rückfragehinweis:
Invstor Relations and Public Relations:
Dieter Riedlinger-Baumgartner
T: 01/504 69 87 44
mailto:[email protected]

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