MICHANIKI S.A. has been sort listed in the final phase of an international tender for the construction of a Commercial Center in Prague, Czech Republic, totaling 115,000 square meters.

The PALLADIUM PRAGUE Commercial Center will be built on behalf of the European Property Group (EPG), which is one of Central Europe's leading real estate investment companies, with a long track record in the Czech Republic.

The PALLADIUM is located at the historic center of Prague and it will incorporate classical and modern architectural elements. It will have eleven floors: four levels for stores and multi stores, three floors for offices, one floor for food and recreational activities, and three underground levels for parking. The total budget for the project is estimated at around 100 million euros.

The tender involved many construction companies from France, Germany, Austria, Portugal and the Czech Republic. MICHANIKI is sort listed along with two more companies, while the final winner should be declared by April 2005.