ABL Ablon

 
TIDMABL 
 
 

  ARBITRATION COURT VERDICT UPDATE 

  Further to an announcement made on December 1, 2009, Ablon Group Limited ("Ablon"), a leading real estate owner and developer in Central and Eastern Europe, wishes to provide the following update. 

  On Monday, February 1, 2010, the Economic Department of the Budapest Municipal Court rejected a claim filed by BVM Epelem ("BVM") to annul a decision made by the Arbitration Court, and decided that the arbitration verdict issued on November 27, 2009 remains valid. 

  Global Center Kft. has started an execution process to collect the verdict amount. The company will announce any further developments in due course. 

  ___________________________ 

  For further information, please contact: 

 
Ablon Group Limited            KBC Peel Hunt Ltd 
Daniel Avidan, CFO             (Nominated Adviser and Broker) 
Tel. +36 1 225 6600            Capel Irwin / Alex Vaughan / Daniel Harris 
                               Tel. +44 (0)20 7418 8900 
ING Wholesale Banking          Shared Value Limited 
(Joint Corporate Broker)       Nicolas Duperrier / Mark Walter 
Nathalie Bachich de Recina /   Tel. +44 (0)20 7321 5010 
Julie Wakkie                   ablon@sharedvalue.net 
Tel. +44 (0)20 7767 8362 
 
 

  NOTES TO EDITORS 

  About Ablon Group 

  Founded in 1993 in Budapest (Hungary), Ablon Group has properties at 33 locations, of which there are 14 completed projects and 19 development projects in Budapest, Prague, Bucharest, Warsaw and Gdansk. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at EUR594 million by King Sturge, an independent valuation firm, as at 31 December 2008. Ablon has, to date, approximately 166,290 square metres of existing and income generating office and retail assets (at 13 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,296,450 square metres (at 25 locations) in Budapest, Prague, Bucharest, Warsaw and Gdansk. Ablon's shares are traded on the AIM market of the London Stock Exchange under the ticker 'ABL'. 

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