euro adhoc: Meinl European Land Ltd. / Financial Figures/Balance Sheet / Meinl European Land announces preliminary results for 2007 Investment property portfolio including properties under develop

--------------------------------------------------------------------------------
Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
--------------------------------------------------------------------------------

Company Information

24.04.2008

Jersey, 24 April 2008. Meinl European Land Limited ("Meinl European
Land" or the "Company") whose certificates representing shares are
listed on the Vienna Stock Exchange announces its preliminary results
for the financial year ended 31 December 2007. The Board expects to
publish its annual report shortly. The timetable to seek approval and
close the transaction announced on March 20, 2008 with CPI/Gazit
remains on track for the end of the second quarter 2008.

Property portfolio increases by almost 50% to EUR 2.7 billion

At 31 December 2007, Meinl European Land owned a total of 162
investment properties. The market value of these properties amounted
to approximately EUR 1.9 billion based on an appraisal by the
international property consultants Cushman & Wakefield at the
year-end. Overall, Meinl European Land´s investment property
portfolio grew by approximately EUR 200 million or 12% during the
twelve month period since 31 December 2006.

In addition to investment properties, the Company owns a significant
portfolio of development projects with a total investment requirement
of approximately EUR 3.3 billion, of which approximately EUR 800
million had been spent by 31 December 2007. The Company also secured
a significant strategic land bank mainly in Russia, Turkey and Poland
with a land area ca. 1.8 million sqm for further development.

Due to the increased development activities during 2007, Meinl
European Land´s total property portfolio (investment properties and
investment properties under development) grew by almost 50% since
2006 to EUR 2.7 billion.

Core Investment markets: Russia, Poland and Turkey

Meinl European Land´s core investment market during the period
remained Russia, Poland and Turkey. In Russia, Meinl European Land
accelerated several development projects in Ekaterinburg, Ufa, Omsk
and other Russian cities and also completed the development of a
shopping centre in St. Petersburg which was opened in February 2008.
This shopping centre is to be extended significantly during 2008.

In Poland, the Company opened a shopping centre in Bialystok in
December 2007, with a lettable space of approximately 36,000 sqm
which was fully let from the first day of operations. In addition,
during 2007, the Company completed the extension of two other sites
in Poland - in Radom and Zamosc.

Another important investment market for the Group is Turkey. The
first development project, which the Company is planning to open in
Summer 2008, is a shopping centre with a lettable space of
approximately 82,000 sqm in Trabzon at the Black Sea coast.

Rental income improved by 24% to EUR 120 million
Like-for-like rental growth of almost 4%

Meinl European Land´s gross rental income during 2007 amounted to
approximately EUR 120 million, which represents an increase of 24% on
the previous year (2006: EUR 96 million). The increase in rental
income is based on a larger area of lettable space due to additional
investment properties or site extensions, the acquisition of new
tenants and overall higher rental income per sqm. This positive trend
is also seen in the rental income of properties which were part of
the portfolio in the previous year, with like-for-like rental growth
in 2007 amounting to almost 4% with significant growth in the Polish
and Slovak markets.

Profit before taxation EUR 193 million

Meinl European Land´s preliminary profit before taxation in 2007
amounted to EUR 193 million (2006: EUR 279 million). The decrease was
primarily the result of lower revaluation gains in Meinl European
Land´s property portfolio of EUR 133 million (2006: EUR 228 million),
reflecting the impact of current market conditions on the property
sector. In addition, the markets in CEE were dominated, particularly
in the last months of 2007, by a reduced yield compression compared
to 2006 which also resulted in lower revaluation gains.

Net asset value per share/certificate of EUR 15.25

The Company's net asset value per share/certificate amounted to EUR
15.25 at the year-end 2007. Based on a series of assumptions, if the
development pipeline and land bank is fully built out, it will
generate a development surplus of approximately EUR 1.3 billion or
EUR 5.96 per share/certificate. In this case, the adjusted NAV would
amount to EUR 21.21 per share/certificate. The calculation of the
expected development surplus is based on future performance and
completion of the pipeline, the outcome of which may be uncertain.

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: Meinl European Land Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Citigate Dewe Rogerson; Michael Berkeley +44 20 7638 9571

Trimedia; Bernhard Hudik +43-1-5244300

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Continous
Börsen: Wiener Börse AG / official market