27.03.2009 – 12:00

Meinl Airports International Ltd.

EANS-News: Meinl Airports International Ltd.
Board of Directors convenes two Extraordinary General Meetings (EGM) in Vienna for April 22, 2009

St, Helier Jersey (euro adhoc) -

Board to receive authorisation to return free cash to certificate 
holders – Further future returns shall be made possible by sale of 
AI’s portfolio of assets – Second EGM only for formal change of the 
name of the Company to AI Airports International Limited

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

air transport/EGM

Jersey, 27 March 2009 - The Board of
AI Airports International (AI) announces that it convenes, in 
accordance with the requisition of a group of certificate holders, 
two EGMs in Vienna for 22 April 2009, the first at 10 am and the 
second following after the conclusion of the first EGM. While the 
second EGM´s only agenda item is a decision on the change of the name
of the Company to AI Airports International Limited, the proposed 
resolutions for the first EGM cover several topics, including a 
material change of the Company´s strategy.

The resolutions presented to certificate holders at the first EGM 
include:

• an authorisation of the Board to return free cash to certificate 
holders in one or more tranches, with the expectation of an initial 
return of approx. EUR 300 million in total or such other amount as 
can be lawfully and economically distributed, • a change to the 
investment objectives of the Company whereby the Board is authorised 
to sell or otherwise dispose of all or any assets of the Company and 
no investments in new projects can be made without certificate 
holders´ approval, • an authorisation of the Board to distribute to 
certificate holders proceeds of the sale of the Company´s assets.

"These proposed changes enable us to fulfil what we have promised to 
our certificate holders before our election as independent Board of 
Directors: To minimise the losses of our certificate holders caused 
by the previous board and the Meinl Bank Group", the Chairman of the 
Board of Directors, Wolfgang Vilsmeier, explains. "The Board has 
finished its thorough review of the existing portfolio assets and has
taken into consideration the dramatically changed economic and 
investment conditions compared to those prevailing at the time of the
initial public offering."

The Board has drawn two main conclusions: First, the original 
strategy to act as a long-term investor in the airports sector is no 
longer the most appropriate course for the Company which means that 
excess capital should be returned to certificate holders rather than 
being invested in new projects. Second, that AI is not ideally suited
to act as a long-term investor for its investments. Especially the 
current downturn in the global and European aviation industry 
significantly prolongs the timeframe in which the AI assets could be 
turned into profitable businesses.

Wolfgang Vilsmeier adds that against the backdrop of current economic
conditions he is convinced that now is not the right time to be 
buying additional assets with the remainder of the certificate 
holders´ funds. "We believe that it´s in the best interest of 
certificate holders that - by returning excess capital - they are 
enabled to decide by themselves in which manner their funds are being
invested or otherwise made use of."

With regards to AI's current investments Wolfgang Vilsmeier comments:
"We are very focused on improving the financial performance of our 
investment portfolio. But as a result of the deficient investment 
policy of the former Board, our investment portfolio assets have not 
generated positive returns so far which caused us to significantly 
write-down the carrying values of the investments during Q3 2008. 
Nevertheless, in the last months we have implemented an efficient 
portfolio management and have undertaken great efforts to optimise 
the airports in Ulan Ude, Bydgoszcz and Parma as well as the 
development project in Sochaczew. Our active management approach 
should lead to an improvement of their performance in the long-term, 
which should enable us to realize the maximum cash value in the sales
process."

In addition the proposed resolutions cover, amongst others, changes 
to the Articles of Association of the Company and the election of a 
smaller Board of Directors. Several of the proposed resolutions will 
also require the consent of the Jersey Financial Services Commission.
Detailed information on the content of all proposed resolutions will 
be available at the Company's website www.airportsinternational.eu.

Finally Vilsmeier invites all certificate holders of AI to take part 
at the EGMs. As the Company is subject to Jersey Company Law all 
certificate holders who intend to attend and vote at the EGMs have to
complete and sign the Form of Proxy that will be available for 
download - both in German and English - on the website of the Company
www.airportsinternational.eu.

More information on AI Airports International is available at:
www.airportsinternational.eu

end of announcement                               euro adhoc

Further inquiry note:

Please address any inquiries to:
Investor Relations and Public Relations
Hochegger Financial Relations GmbH;
Dieter Riedlinger
T: +43 (01) 504 69 87 344;
M: d.riedlinger@hochegger.com

Branche: Real Estate
ISIN: AT0000A053N4
WKN:
Index: other listings
Börsen: Wiener Börse AG / Third Market