MEINL EUROPEAN LAND ANNOUNCES PETER BAGULEY AS INDEPENDENT DIRECTOR

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companies

St Helier Jersey (euro adhoc) - Meinl European Land Limited ("MEL" or
the "Company") announced today that Peter Baguley, currently property
director at J Sainsbury plc and formerly property and investor
relations director at Boots PLC (now Alliance Boots), both
London-listed FTSE 100 companies, has agreed to become an independent
non-executive director of MEL. Mr Baguley is also on the advisory
boards of the British Council of Shopping Centres and Retail Week
(the UK´s leading retail trade magazine) and is a member of the Bank
of England Property Forum.

Mr Baguley´s appointment will take place, and is conditional upon
closing of the investment in the Company by CPI/Gazit Holdings
Limited ("CPI/Gazit"), a joint venture between Gazit-Globe Ltd
("Gazit"), a multinational real estate investment company listed on
the Tel Aviv Stock Exchange (TASE:GLOB), and CPI Austria Holdings
Limited ("CPI Austria"), a wholly-owned subsidiary of CPI Capital
Partners Europe LP (and its parallel funds), a real estate fund
advised by Citibank International plc through its business unit, Citi
Property Investors. Closing of the investment is subject to a number
of conditions, including certificate/shareholder approvals which will
be sought at the extraordinary general meeting of the Company to be
held on 16 July 2008.

In addition, upon closing of the investment, the Company´s name will
be changed to Atrium European Real Estate and an internal management
structure will be adopted with a new management team.

The appointment of Mr Baguley to the board is subject to appropriate
Jersey Financial Services Commission approval requirements.

Commenting on the appointment, Georg Kucian, chairman of MEL, said:
"We are pleased that Peter has agreed to join the board of the
Company. We are confident that Peter´s experience in managing retail
properties will help to develop MEL´s position as a leading property
development company in Central and Eastern Europe."

Rachel Lavine, Proposed CEO of Atrium, said: "Peter´s appointment
will bring an extra dimension to the Board of MEL. Not only does he
have in-house experience of retail asset management, his previous
experience as Investor Relations Director at Boots PLC will help to
ensure the highest standards of corporate governance and investor
communications at the Company."

Peter Baguley said: "I am excited about joining MEL at this point in
the Company´s development. The investment by CPI/Gazit, coupled with
the vast on-the-ground experience these two global organizations
have, is compelling."

end of announcement euro adhoc
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ots Originaltext: Meinl European Land Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Contacts for enquiries:

London Austria

Citigate Dewe Rogerson Trimedia

Michael Berkeley Bernhard Hudik

Sally Marshak +43 676 842 44381

+44 20 7638 9571 +43 1 5244 300

For questions pertaining to Peter Baguley:

London Austria

Financial Dynamics Dr. Viktor Bauer PR GmbH

Stephanie Highett Dr Viktor Bauer

Richard Sunderland Mag. Anita Köninger

Laurence Jones viktor.bauer@viktorbauer.com

+44 (0)20 7831 3113 +43 (1) 320 95 45 18

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