EANS-Adhoc: Meinl International Power Ltd. / Board of Directors decided on initial repayment to PI certificate holders

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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25.05.2009

Board of Directors decided on initial repayment to PI certificate
holders

Jersey/Vienna, May 25, 2009 - The Board of Directors of PI Power
International Limited announces that it has decided on the initial
tranche for the capital repayment to certificate holders. This
decision came after the Jersey Financial Services Commission
confirmed the validity of the resolutions passed at the Extraordinary
General Meeting on April 21, 2009. In this first step EUR 4.40 per
certificate will be repaid to certificate holders. The board is
pleased to announce that - after a comprehensive re-evaluation of the
company`s assets and contractual obligations - this initial tranche
is slightly higher than originally indicated. The board also
anticipates additional repayments in the future. The timing and
quantum of these future repayments will be made according to the
progress of the ongoing sales process, realising value in other
potential assets of the company including the resolution of
litigation and from the resolution of the company`s contractual
liabilities and other valid claims.

The capital repayment (except in respect of certificates held by the
company) will be transferred to the shareholders of the company,
including Oesterreichische Kontrollbank Aktiengesellschaft ("OeKB")
on or about June 1, 2009. OeKB holds 59,999,997 shares in the company
on account of the certificate holders. OeKB has been instructed to
transfer the portion of the capital repayment received (except in
respect of certificates held by the company) to the account holding
banks on or about June 2, 2009, based on the deposit account balances
as of June 1, 2009. The account holding banks will then credit the
capital repayment to the accounts of the individual certificate
holders. No action on part of certificate holders is necessary to
enable this capital repayment.

The ADCs of PI will trade ex-capital repayment from June 2, 2009 on.

All certificate holders are encouraged to take their own tax advice
regarding the tax treatment of the capital repayment.

Further information on PI Power International is available at:
www.powerinternational.eu

PI Power International Limited is regulated by the Jersey Financial
Services Commission. Registered company no. 97789.

end of announcement euro adhoc
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ots Originaltext: Meinl International Power Ltd.
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Hochegger Financial Relations GmbH, Stephanie Cekon,

T: +43 1 504 69 87 - 338, M: s.cekon@hochegger.com

Branche: Energy
ISIN: AT0000A05W59
WKN:
Index: other listings
Börsen: Wien / Third Market