euro adhoc: Meinl European Land Ltd. / Strategic management decisions / Meinl European Land Limited - Statement of the Board

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Company Information

24.09.2007

Jersey, 24 September 2007. The Board of Meinl European Land today has
mandated Merrill Lynch International Bank Limited to act as its
investment bank and advisor.

MEL, in collaboration with Merrill Lynch, is examining and evaluating
comprehensive measures aimed at a change of the existing corporate
structure, strategic re-orientation and an improvement of capital
market standards. The results of these efforts will be communicated
expeditiously. Fundamental changes will be submitted to the AGM for
approval, should the need arise.

Examining all the proposed measures and putting them into practice
will take a few months, and will pay particular attention to
corporate facts, tax legislation and existing contractual
obligations. The overarching goal is to promote MEL´s long-term
positive development as leading property company in Central and
Eastern Europe

The measures include, inter alia:

• Changes of the entire corporate structure
• Evaluating the advantages and disadvantages of an internal and external
management and its associated fee structure
• Strengthening of the operative management and the Board
• Ensuring compliance with the Austrian Corporate Governance Code and,
emanating from this, the voluntary application of the principles underlying
Austrian company law
• Evaluating the instrument of partly paid shares
• Evaluating dividend payments
• Sounding out strategic options and partnerships

MEL supports the ongoing investigation conducted by the Austrian
Financial Market Authority (FMA) and is keenly interested in
co-operating closely with it with a view to clarifying any open
issues. MEL has always fully complied with all applicable laws and
regulations and is therefore confident that this will be confirmed in
the course of the investigation as well.

The Board of Meinl European Land will do the utmost to increase the
company value and to boost our investors´ confidence.

The Board of Directors

end of announcement euro adhoc 24.09.2007 12:51:33
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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