ABL Ablon

    


Ablon Group



ABLON GROUP TO DEVELOP BUCHAREST "AIRPORT CITY" - A MODERN OFFICE AND HIGH TECH
ZONE NEAR BUCHAREST INTERNATIONAL AIRPORT

Ablon Group Limited ("Ablon" or "the Company"), a leading real estate owner and
developer in Central and Eastern Europe, today announces that the Company has
completed the acquisition of a 133,264 square meter plot in Northern Bucharest,
Romania, in close proximity to the city's international airport (Henri Cuanda,
Otopeni). Ablon will develop on the site of "Airport City" - a zone of modern
offices and high tech facilities built to exploit the increasing commercial
activity around the airport. According to the PUG (Bucharest General Urban Plan)
the current building rights for the plot extends to 266,500 meters (i.e. 200%).

The project is Ablon's fifth development site in Bucharest and the total
development cost is expected to be approximately EUR 280 million. Construction
is scheduled to commence within 24 months, and will continue over five phases
with the final phase completed within six years. The site is located 500 meters
north of Bucharest's international airport, and 1.8 km from the DN1 highway, and
is easily accessible by train and car.

Uri Heller, Founder and Chief Executive of Ablon, commented: "We are very
pleased to announce the acquisition of this plot so close to Romania's main
international airport. We will develop the plot into a unique, branded project
that will attract tenants from all over Europe. This development diversifies and
creates further value to our portfolio of strategically located sites in the
most attractive cities in Central and Eastern Europe."

                          ____________________________

For further information, please contact:

Ablon Group Limited                          Shared Value Limited
Daniel Avidan, CFO                           Nicolas Duperrier
Tel. +36 1 225 6600                          Tel. +44 (0)20 7321 5010
                                             ablon@sharedvalue.net

Credit Suisse Securities (Europe) Limited    ING Wholesale Banking
Chris Byrne / Richard Probert                Aur�lie Barry
Tel. +44 (0)20 7888 8888                     Tel. +44 (0)20 7767 6572

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ABOUT ABLON GROUP

Founded in 1993 in Budapest (Hungary), Ablon Group has properties at 27
different locations split into 50 different projects or phases, of which there
are 13 completed projects and 22 development projects in Budapest, Prague and
Bucharest. Its portfolio comprises a diversified mix of office, residential,
retail, logistics and hotel developments valued at EUR 540.7 million by King
Sturge, an independent valuation firm, as at 30 June 2007. Ablon has to date
approximately 119,100 square meters of existing and income generating office and
retail assets (at 11 locations) in Budapest and Prague, with a significant
development land bank comprising a further 991,900 square meters in the next
five years (at 22 locations) in Budapest, Prague and Bucharest. Ablon's shares
are traded on the AIM market of the London Stock Exchange under the ticker
'ABL'.

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