ABL Ablon

    


Ablon Group



ABLON GROUP ACQUIRES NEW PLOT OF LAND FOR RESIDENTIAL, OFFICE AND RETAIL USE IN
BUCHAREST, ROMANIA

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 new 40,000 square meter plot of land located in
the Pipera District of Bucharest for a purchase price of EUR 18.5 million. Ablon
has obtained building rights for 120,000 square meters on the plot and plans to
develop the site for residential housing, offices and a retail complex. The
Company will construct approximately 1,000 apartments, taking up 72,000 square
meters, with offices and retail space being constructed on 28,000 square meters
of space. The total revenues from the project are expected to be between EUR 185
and EUR 205 million.

This acquisition takes place four months after the Company announced its
acquisition of a first plot in the Pipera District of Bucharest and is expected
to increase Ablon's portfolio in Bucharest to approximately 4,000 apartments and
41,000 square meters of office and commercial space. The Company is looking to
complete all of its current development projects in Bucharest within 5 years.

The Pipera district of Bucharest is located in the northern suburbs of the City
and is considered to be one of the most exclusive residential areas in
Bucharest. Property demand in Bucharest is still exceeding a relatively low
supply stream. Romania has one of the fastest growing economies in Europe with
GDP growing at 7.7% year on year in 2006, and 6.2% expected for 2007, compared
to 2.6% in the Eurozone.

Uri Heller, Founder and Chief Executive of Ablon, commented: "We are pleased to
announce our intention to develop more high quality properties and commercial
space in Bucharest, one of Central Europe's most dynamic real estate markets.
This additional development, close to the American International School, in the
prestigious Pipera district, will cement our presence in Romania and greatly
enhance our existing asset portfolio in Budapest and Prague. The move reflects
our strategy to diversify our presence carefully by investing in the cities and
segments which show the highest potential in the region. We are confident that
this will secure steady growth and future revenue streams for Ablon Group and
create value for our shareholders."

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
Chris Byrne / Richard Probert
Tel. +44 (0)20 7888 8888

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 16 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 103,400 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 817,900 square meters in the next
five years (at 19 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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