St. Helier, 19.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.
Acquisition of two additional hypermarkets in the Czech RepublicPortfolio with today 142 properties with a total area of 400.000 sqmFurther capital increase planned for this quarter
Vienna, 19th May 2004, Meinl European Land,the Vienna Stock Exchange listed real estate investment company witha focus on the property markets in Central and Eastern Europe, pushesits expansion and acquires two additional properties in the CzechRepublic. With today, Meinl European Land owns 142 properties with atotal area of around 400.000 sqm.
Additional acquisition in the Czech Republic
The successful real estate investment company Meinl European Landsannounce the closing of contracts of two additional hypermarkets inthe Czech Republic for a total investment value of 31 million Euro.These acquisitions follow the acquisition of two smaller propertieslongterm leased by the dutch retail group AHOLD earlier in May, willgenerate a yearly yield of 10.13% and 10.50%. The both hypermarkets,which are longterm leased by the Spar group will increase MeinlEuropean Land?s rental income by around 3 million Euro per year.
Meinl European Land?s property value in 2004 increased by 25%
In 2004 the company has already acquired 10 new properties in theCzech Republic and in Hungary which have a total area of nearly60.000 sqm. With today Meinl European Land owns 142 retail propertieswith a total rentable area of 398.000 sqm. Companies? portfolio has atotal value of more than 270 million Euro, 25% more than in the endof 2003, while the rental income per year has been increased up to 25million Euro.
Further capital increase planned
Additional properties with a total value of nearly 200 million Euroare under a due dilligence process. Following Meinl European Landplans to exercise a further capital increase within this quarter tocontinue the dynamic expansion. This expansion will not only containfurther properties in the Czech Republic and Hungary, the companyalso plans the expansion to other Eastern European countries such asPoland, Romania or the European part of Russia.
Further inquiry note:ECC Publico Public Relations & LobbyingMag. Claudia Müller-StralzTel.: ++43 (0) 1/717 86 107mailto:email@example.com
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WKN: ISIN: AT0000660659Marktsegment: Standard Market Auction, official dealing Wiener BörseAG