Last checked at 13 Aug 2008 07:00
Date: 13 August 2008
On behalf of: Dawnay, Day Carpathian PLC ("Carpathian" or "the Company")
Embargoed until: 0700hrs
Dawnay, Day Carpathian PLC
EUR 62,500,000 Construction Finance Facility secured for Romanian Development
Carpathian (AIM: DDC), the Central and Eastern Europe retail property investment company, is pleased to announce that it has secured a construction finance facility of EUR 62,500,000 from MKB Bank to fund the development of Atrium Center Arad, its city centre retail project in Arad, Romania. Atrium Center Arad is one of four retail projects that Carpathian is currently developing in Romania. It is due for completion in 2009.
Commenting on the financing, Rupert Cottrell, Chairman of Carpathian, said:
"We are delighted to have secured this construction finance facility from MKB Bank for this key project in Romania. This further reinforces the market's confidence in our approach and the quality of the assets we are developing."
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Enquiries:
| Carpathian Asset Management Limited Paul Rogers / Balazs Csepregi | 020 3178 2892 |
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| Numis Securities Limited Nominated Adviser: Anthony Richardson/Nick Westlake Corporate Broking: Charlie Farquhar | 020 7260 1000 |
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| Redleaf Communications Emma Kane/Adam Leviton/Henry Columbine | 020 7822 0200 carpathian@redleafpr.com |
Notes to Editors:
Carpathian was created in 2005 for the purpose of investing in Eastern European commercial real estate.
Its primary focus is on shopping centres, supermarkets and retail warehousing in several target countries in Central and Eastern Europe including the Czech Republic, Hungary, Poland, Romania and the Baltics.
Carpathian Asset Management Limited is the Property Investment Adviser to Carpathian. It is responsible for identifying acquisition targets, managing transactions, developments and portfolios within Central and Eastern Europe.