ABL Ablon

    


Ablon Group



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 an 88,000 square meter plot in Gdansk, through a
joint venture in which Ablon has a 51% stake. Ablon intends to develop the site
into a 3 floor luxury residential complex with recreational facilities for a
total development cost of approximately EUR 95 million. Construction at the site
is scheduled to commence within 15 months over 4 different phases with
completion expected 4 years later. Ablon expects the project to generate an
income of between EUR 190 million to EUR 220 million once all four phases are
complete. The Company also has an option to buy an additional 30,000 square
meters of land in close proximity to the site.

Located 10 km from the centre of Gdansk, on the river banks of the Wisla River,
the land is well connected to the city center with major roads and bus services
providing direct transport links from the area. The plot is to be converted into
an upper class residential complex on the site of a marina, with plenty of
recreational, retail and parking facilities available on-site.

Uri Heller, Founder and Chief Executive of Ablon, commented: "We are very
pleased to announce the acquisition of this plot of land in Gdansk. We will
develop the plot into a unique, branded project that will attract buyers from
all over Poland and its neighboring countries. This development both diversifies
and adds further value to our portfolio of high-end properties in the most
attractive and thriving cities in Central and Eastern Europe."

                          ____________________________

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     ING
Chris Byrne / Richard Probert                 Aur�lie Barry
Tel. +44 (0)20 7888 8888                      Tel. +44 (0)20 7767 6572

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ABOUT ABLON GROUP

Founded in 1993 in Budapest (Hungary), Ablon Group has properties at 27different
locations split into 50 different projects or phases, of which there are 13
completed projects and 22 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 119,100 square metres 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 991,900 square metres in the next
five years (at 22 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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