euro adhoc: Meinl European Land Ltd. / Mergers - Acquisitions - Takeovers / Meinl European Land develops Shopping Centre in Russian thermal region: Shopping centre and retail park with 48,000sqm in M

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Company Information

31.08.2007

Jersey, 30 August 2007. Meinl European Land continues its expansion
in Russia and develops a shopping centre with integrated DIY market
and electronic superstore with a total lettable area of 48,000sqm in
the region of Mineralnyye Vody in South Russia.

The planned shopping centre is located at the intersection of the
regional cities Mineralnyye Vody, Pyatogorsk, Yessentuki, Lermontov
and Kislovodsk. Meinl European Land has acquired a land plot of 23ha
with zoning for commercial buildings in place. The shopping centre,
which will be also the first major regional shopping centre in the
whole region, has a catchment area of approximately 1 million
inhabitants. As the region is well-known in whole Russia for its
thermal spas the population is significantly higher during the
tourist season. In particular the city of Yessentuki has been popular
as a spa resort since the time of the tsar and can be compared with
Karlovy Vary in the Czech Republic. Consequently, tenant mix and
offering will not only be adapted with regard to the local
population, but will also take into account tourists´ needs.

Investment value approximately EUR 60 million - yield 13%

The investment value for the shopping centre will amount to
approximately EUR 60 million and the expected yield is approximately
13%. Start of construction is planned for beginning of 2008. By this
time the Company expects to have approximately 60% of the project
pre-let. The opening of the shopping centre is scheduled for the
beginning of 2009.

With this new shopping centre Meinl European Land has extended its
development portfolio in Russia to 16 projects with estimated total
investment costs of EUR 1.6bn. An additional 6 shopping centres with
a market value of approximately EUR 0.6bn have been in successful
operation for some time already.

end of announcement euro adhoc 31.08.2007 10:53:56
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ots Originaltext: Meinl European Land Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@pleon-publico.at

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Prime.market
Börsen: Wiener Börse AG / official market