Following our announcement dated 18th March 2008 in the Daily Official List of ATHEX, we inform you that in its report dated 6th August 2007, which was published pursuant to articles 9 of L. 3016/02 and 289 of the Athens Exchange Regulation, the Board of Directors of EUROBANK PROPERTIES REAL ESTATE INVESTMENT COMPANY S.A. (the "Company") stated that the individual investments to which the Company will proceed by utilising the proceeds from the share capital increase as decided by the Extraordinary General Assembly of 3rd September 2007 and 15th October 2007 have not yet been fully determined in relation to specific properties. However, the Company's strategy regarding the use of proceeds remains as follows: "The Company intends to use the proceeds for the acquisition of high quality office, retail, logistics and industrial spaces, in prime or potentially prime locations both in Greece and in CEE, in order to lease them to corporate tenants in accordance with its investment strategy and in compliance with applicable laws". In the aforementioned report, the Company's Board of Directors committed itself to provide the information required (pursuant to article 289 of the ATHEX Regulation) upon the realisation of the relevant investments and to comply with all its regulatory obligations.
In this context, the Company announces a further step in the materialisation of its investment plan via the acquisition, on 15 March 2008, of a retail property of total surface area 543.10 sqm, for a consideration of approximately USD 8.6 million. The acquisition will be financed by the funds which were raised from the share capital increase which took place during December 2007.
The property is located at 66-68, Chevonoarmiyska str., Kiev, Ukraine, and will be leased to Universal Bank, member of the EFG Eurobank Ergasias S.A. Group. The market value of the property is approximately USD 9.0 million as valued by the Body of Charted Valuers (SOE).
It is noted that the Company has also published a relevant press release, as required by law.