ABL Ablon

TIDMABL

Ablon Group Limited

21 November 2012

FOR RELEASE AT 21 November 2012

Update on annualised administrative cash spendings

ABLON Group Limited ("ABLON" or "the Company"), a leading real estate owner and developer in Central Europe, today gives an update on the reduction in the annualised administrative cash spendings.

As announced previously by ABLON the directors have started to implement the reduction in the financial cost of the annual administrative expenses. The Board instructed the management to seek to reduce cash spendings by approximately 25% on an annualised basis, subject to a minimum of EUR900k and a target of EUR1.2m.

For further information, please contact:

ABLON Group Limited

   Kristóf Skwarek                                                           Tel. +36 1 225 6600 

Newgate Threadneedle (Financial PR)

   Graham Herring                                                            Tel. +44 (0) 20 7653 9858 

Terry Garrett Tel. +44 (0) 20 7653 9845

NOTES TO EDITORS

About ABLON Group Limited

Founded in 1993 in Budapest (Hungary), ABLON and its subsidiaries (together the "ABLON Group") has properties at 34 locations, of which there are 15 completed projects, two projects in the construction phase and 23 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 EUR385 million as at 30 June 2012. The ABLON Group had, as at 30 June 2012, 202,000 square metres of existing and income generating office, residential, hotel, retail and logistics assets (at 15 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,236,300 square metres (at 24 locations) in Budapest, Prague, Bucharest, Warsaw and Gdansk. ABLON's shares are traded on the Main Market of the London Stock Exchange under the ticker 'ABL'.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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