euro adhoc: Meinl European Land Ltd. / Strategic management decisions / HL: Purchase of Meinl European Land certificates in the best commercial interest of both the Company and its shareholders and in

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
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Company Information

29.08.2007

Jersey, 29 August 2007

Responding to investor concerns, Meinl European Land wishes to
clarify the following:

Information about purchase of certificates disclosed in the
Prospectus since the IPO

MEL has issued Prospectuses in connection with its capital markets
activites that were reviewed in detail and approved by the Austrian
Financial Market Authority (FMA). The Prospectuses specifically and
publicly make clear that the Company may at any time purchase
certificates, and that the market maker (Meinl Bank AG) has been
authorised to acquire certificates for the Company´s account at any
time. There was no obligation either under the laws of Jersey or
under Austrian law to disclose the purchase of certificates other
than in the course of normal regular company reporting.

MEL´s true value considerably higher than the price at which
certificates were purchased

There were two main reasons for purchasing certificates. First was
that the Company´s management - in line with international analysts´
price targets of up to EUR 28 - considered the underlying value to be
considerably higher than the value in the market during the first
half of the year. Second was that there were at the time - and
currently still are - plans to take on board strategic partners that
will contribute to a sustained increase in the Company´s growth. For
these reasons, Management has no intention to dispose of the
purchased certificates at less than the average purchase price (EUR
20.43), since the underlying value continues to exceed the purchase
price in the Company´s judgement.

Process of purchase of 88.8 million certificates correct and in
compliance with all laws

With the publication on 23 August 2007 of the report for the second
quarter of 2007, MEL has announced the purchase of a total of 52.3
million certificates as per 30 June 2007. The average purchase price
was EUR 20.78 per certificate. Prior to a disclosure in its next
regular quarterly company publication, MEL reports that a further
36.5 million certificates have been acquired at an average price of
EUR 19.93 during the third quarter up to today´s date. Of the total
of 88.8 million certificates, 83.9 million were acquired through the
Stock Exchange and 4.9 million were acquired over-the-counter at
prices equal or close to the quoted prices at the time. At no time
did the Company acquire any certificates from Meinl Bank AG, from its
affiliates or from any Meinl Bank funds. No preferential treatment
was given to any individual investors willing to sell at any time.

Solid shareholders´ equity and high level of liquid funds

Funds totalling EUR 1.8 billion were used for the purchase of the
Company´s certificates. In the Group accounts these amounts are
deducted from shareholders´ equity and do not affect the profit and
loss account. After such deduction, the Group´s shareholders´ equity
amounts to EUR 3.1 billion. The Company has sufficient liquid funds,
amounting to EUR 1.6 billion, to finance further growth. These funds
are invested conservatively, held in interest-bearing bank accounts,
or invested in highly rated government bonds or bank bonds, both of
short maturities. MEL´s investments do not include any securities of
Meinl Airports Investment Limited or Meinl International Power
Limited.

MEL takes shareholders´ concerns very serious and introduces stronger
measures for corporate governance, transparency and communication
immediately

MEL has reacted to shareholders´ concerns and has resolved to
introduce with immediate effect permanent changes with respect to
corporate governance, transparency and communication. As a first
step, MEL voluntarily undertakes to announce from now on any further
transactions in certificates on a weekly basis in arrears, whereby in
accordance with shareholders´ approval no more than a total of 90
million certificates will be purchased. Rupert-Heinrich Staller, a
renowned capital markets expert specialising in shareholder activism
and corporate governance, has been given the responsibility to ensure
implementation of these changes as Meinl European Land´s capital
markets representative. The changes also include the introduction of
a performance-related fee structure which will be discussed with
shareholders and submitted for approval to the next General Meeting.

Meinl European Land - a highly successful company with outstanding
prospects

MEL´s results for the first half of 2007 underline its continuing
excellent performance. Profit after tax rose by an impressive 127% to
EUR 113.0 million. Year-on-year, the property portfolio increased by
42% to EUR 2.3 billion. Since the upward trend in operating
performance continues unabated, the Company maintains its view that
the underlying value of the business is substantially higher than the
average purchase price of the certificates it holds.

end of announcement euro adhoc 29.08.2007 09:36:14
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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: Standard Market Continous
Börsen: Wiener Börse AG / official market


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