Kimberly Enterprises Regulatory News (KBE)

21 Jun 2007 16:06

Engel East Europe N.V.21 June 2007 21 June 2007 ENGEL EAST EUROPE N.V. Engel East Europe N.V. ("Engel East Europe" or "the Company"), the AIM-listedCentral and Eastern European ("CEE") residential property developer (EEE:LN),announces that it has discontinued negotiations in respect of the MOU announcedon 24 July 2006, for a project in Romania, having been unable to agree termsthat would result in an acceptable return for shareholders. The Company continues to view Romania as a key market and is in negotiations forother large-scale projects in Romania. END Enquiries Engel East Europe N.V.Nir Netzer, Finance Director+972 9970 7024 Dawnay, Day Corporate Finance Limited - Nominated AdviserGerald Raingold/Sandy Jamieson020 7509 4570 Bankside ConsultantsSimon Bloomfield/Andy Harris020 7367 8888 Notes to editors Engel East Europe is an international residential property developerincorporated in The Netherlands. The Company operates in Central and EasternEurope (the "CEE Region") and has various developments in Hungary, the CzechRepublic, Poland, Bulgaria, Romania and Serbia as well as operations in Germanyand Canada. It is currently in negotiations to purchase land for the developmentof additional projects throughout the CEE Region. This information is provided by RNS The company news service from the London Stock Exchange