ABL Ablon

    


Ablon Group



16 July 2007

ABLON GROUP WINS TENDER FROM THE HUNGARIAN POST OFFICE FOR APPROXIMATELY 24,000
SQUARE METERS OF OFFICE RENTAL SPACE

Ablon Group Limited ("Ablon" or "the Company"), a leading real estate owner and
developer in Central and Eastern Europe, today announces that Global Immo Kft.,
a wholly owned subsidiary of Ablon Group and the project company for the Gateway
Office Park project in Budapest, has been informed that it has won a public
tender from the Hungarian Post for approximately 24,000 square metres of office
space subject to a 10 year lease contract which is expected to be finalized and
signed by both parties before the end of July, 2007. Under the terms of this
agreement, the total gross rental income will be approximately EUR 5 million per
annum.

Construction of the Gateway Office Park project is at an advanced stage of
construction. The property is situated on approximately 11,250 square metres of
land in district 13 of Budapest, an area that has become the 'Office Building
Corridor' of Budapest. The project is expected to have a total of 36,298 square
metres of lettable office and retail space and underground parking.

Uri Heller, Founder and Chief Executive of Ablon, commented: "We are delighted
at having won this very significant tender. Our successful bidding for this
contract further validates our strategy of building high quality office, retail
and residential spaces in accessible and centrally located areas."

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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 / Saydam Salaheddin

Tel. +44 (0)20 7888 8888

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ABOUT ABLON GROUP

Founded in 1993 in Budapest (Hungary), Ablon Group has successfully completed
properties at 13 locations comprising 15 completed projects (including two
completed projects that have been sold) and currently has properties at 19
locations comprising 34 development projects (including properties being
developed in multiple phases) in Budapest (Hungary), Prague (Czech Republic) and
Bucharest (Romania). Its portfolio comprises a diversified mix of office,
residential, retail, logistics and hotel developments valued at EUR 405.8
million by King Sturge, an independent valuation firm, as at 30 September
2006(1). Ablon has to date developed approximately 140,000 square meters of real
estate and its current development projects are expected to comprise
approximately a further 690,900 square meters. Ablon's shares are traded on the
AIM market of the London Stock Exchange under the ticker 'ABL'.

(1) Property valuation (EUR 414.7m plus EUR 19.6m payment for Romanian assets)
less IFRS Investment property (EUR 269.7m), investment property under
development (EUR 22.9m) and inventories (EUR 22.2m)

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