17.07.2006 – 15:17

Meinl European Land Limited

euro adhoc: Meinl European Land Limited
Capital measures
Meinl European Land initiates international Medium Term Note Program: Up to EUR 2 billion Bond Program for further expansion Rating agency gives Meinl European Land: "investment grade" rating

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

17.07.2006

Vienna, July 17, 2006. Vienna Stock Exchange listed real estate
company Meinl European Land initiates a Medium Term Note Program with
a total value of up to EUR 2 billion. A proposed note issue of the
Company will be arranged by investment banks Merrill Lynch and Meinl
Bank AG jointly as lead managers. The Company expects that the group
of potential investors will be enlarged significantly. Unlike notes
issued previously the new notes of Meinl European Land will be not
secured, which underlines the financial strength of the Company.

The note program can be drawn in several tranches, which may differ
in denomination, currency and interest terms. As a first tranche, the
Company intends to issue fixed rate notes with medium- to long-term
maturity.

Proceeds from any note issue will be used for the further expansion
of the Company.

As at 31 March 2006, the group owned and managed a property
investment portfolio (excluding investment properties under
development but including properties for sale) valued at
approximately EUR1.1 billion .  The group is currently also actively
engaged in expanding via development projects with estimated costs of
EUR 1.5 billion, which upon completion will take the value of the
total portfolio to EUR 2.6 billion.  As at March 31, 2006 the group
had a development property pipeline and a future potential pipeline
that, if the potential pipeline projects were taken up by the group
would involve an aggregate cost estimated by the Company of
approximately EUR2.2 billion.

The international rating agency Standard & Poors rates the Company
and the bond program with an "investment grade" rating of BBB- and
the Company’s outlook as "Stable". The short-term outlook is rated
with A-3.

"We are proud of being the first real estate company listed on the
Vienna Stock Exchange that receives such a rating. This excellent
evaluation for a property company underlines the success of the Meinl
European Land’s strategy and the great perspectives for the future in
the growing markets in CEE" explains Francis Lustig, Speaker for
Meinl European Land.

Note: This announcement does not constitute or form part of any offer
for sale or subscription of, or any solicitation of any offer to
purchase or subscribe for, notes issued by the Company under the MTN
program in any jurisdiction. Any offer to subscribe for bonds will be
made solely on the basis of information that will be contained in a
prospectus to be published in due course in connection with any such
offer. The prospectus will contain certain detailed information about
the Company, as well as financial statements and other financial
data. This announcement is not for release, publication or
distribution, directly or indirectly, in whole or in part, in or into
the United States (including its territories and possessions, any
state of the United States and the District of Columbia), Australia,
Canada or Japan. This announcement is not an offer to sell or the
solicitation of an offer to buy securities in the United States or in
any jurisdiction in which such an offer or solicitation is unlawful.
No public offer of notes is being made in the United States.   The
notes have not been and will not be registered under the US
Securities Act of 1933, as amended (the "Securities Act"), any state
securities laws in the United States or under the applicable
securities laws of Australia, Canada or Japan.  Notes may not be
offered or sold within the United States or to or for the account of
US persons (as defined in Regulation S under the Securities Act)
absent registration or an exemption from registration.  The Company
will not be registered under the Investment Company Act, and
investors will not be entitled to the benefits of the Investment
Company Act.

end of announcement                               euro adhoc 17.07.2006 14:40:50

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 Auction
Börsen: Wiener Börse AG / official dealing