The Company Eurobank Properties Real Estate Investment Company S.A. (the "Company") announces that in connection with the Company's rights issue and in accordance with Regulation 809/2004 of the European Commission and L.3401/2005, the Prospectus will be available to the public electronically on 19.11.2007, as approved by the Hellenic Capital Market Commission on 15.11.2007.
Specifically, the Extraordinary General Shareholders Meeting of September 3, 2007, resolved the share capital increase of the Company by euros 77,958,000 through the issue of 36,600,000 new common registered shares, of nominal value euros 2,13 each (the "New Shares"), to existing shareholders, at a ratio of 3 New Shares for every 2 shares held. Further the Extraordinary General Shareholders Meeting of October 15, 2007, resolved on certain issues relating to the offering of the New Shares.
The subscription price for every New Share (with the exception of any New Shares which may be offered by way of private placement at a price which may be higher) was set by the Company's Board of Directors dated 9.11.2007 at euros 9 (the "Subscription Price").
If following the exercise of pre-emption rights, there are New Shares unsubscribed for, such remaining New Shares will be made available as follows and in the following order:
i) to employees of the Real Estate division of EFG Eurobank Ergasias S.A., the Company, Eurobank Property Services S.A., EFG Property Services Sofia A.D. (Bulgaria) and EFG Property Services d.o.o Beograd (Serbia) provided that they were employees two (2) months before the commencement of the subscription period and remain employees until the last day of the subscription period (the "Employees"). The Employees may subscribe at the Subscription Price for up to an aggregate (for all Employees) of 150,000 unsubscribed New Shares and up to certain maximum number of New Shares per category of different employees (as described in the Prospectus);
ii) to shareholders who have exercised their pre-emption rights, up to a maximum of two times the number of New Shares corresponding to the pre-emption rights exercised by them at the Subscription Price (the "Oversubscription Rights");
iii) to qualified investors in Greece and outside of Greece by way of private placement, according to the local legal requirements (the "Private Placement"). It is expected that the Private Placement will be arranged by Citigroup Global Markets Limited, Kempen & Co N.V. and EFG Telesis Finance S.A. The price at which any remaining New Shares will be placed in the Private Placement may be equal to or higher than the Subscription Price; and
iv) any further unsubscribed New Shares, may be freely disposed by the Board of Directors at its discretion at a price at least equal to the Subscription Price.
Further details on the above are set out in the Prospectus (section 4.2 "Terms of the Share Capital Increase") as approved by the Hellenic Capital Market Commission. The funds expected to be raised, on the assumption that all New Shares are subscribed for at the Subscription Price, amount to euros 329,400,000 (36,600,000 x euros 9).
The expected timetable for the share capital increase is as follows:
15.11.2007 - Prospectus approval by the Hellenic Capital Market Commission
15.11.2007 - Approval of listing of pre-emption rights by the Board of Directors of the Athens Exchange
15.11.2007 - Publication of the announcement for the ex-rights date and the trading period for pre-emption rights
19.11.2007 - Publication of the announcement for the availability of the Prospectus to the public
19.11.2007 - Prospectus publication (electronically)
20.11.2007 - Ex-rights date for the pre-emption rights
26.11.2007 -Credit by the Hellenic Exchanges S.A. of the pre-emption rights to the accounts of the beneficiaries in the Electronic (Dematerialised) Securities System ("DSS")
26.11.2007 - Commencement of the exercise and trading period of the pre-emption rights
04.12.2007 - End of trading period for the pre-emption rights
05.12.2007 - End of exercise period for the rights of the Employees
10.12.2007 - End of exercise period for the pre-emption rights
13.12.2007 -Publication of the announcement for the percentage of subscription of the share capital increase from the exercise of the pre-emption rights and the placement of unsubscribed New Shares
18.12.2007 -Approval of trading of the New Shares by the Board of Directors of the Athens Exchange
20.12.2007 -Listing of the New Shares
It should be noted that the above mentioned timetable depends on a variety of factors and may change. There will be further announcements to the public in this regard.
The Prospectus, as approved by the Hellenic Capital Markets Commission, will be published in electronic form on the websites of the Company (www.eurobankproperties.gr), the Athens Exchange (http://www.ase.gr/content/gr/Companies/ListedCo/Prospectus) the Hellenic Capital Markets Commission (www.cmc.gov.gr) and EFG Telesis Finance S.A. (www.efgtelesis.gr) on 19.11.2007. The Prospectus will also be made available from 23.11.2007 without charge, on request, in printed form at EFG Eurobank Ergasias S.A.'s branches in Greece.
For further information, shareholders are kindly requested to contact the Company's Shareholders' Department: 8, Iolkou and Filikis Etairias (Building A), 142 34 Nea Ionia, tel. +30 210 352 3604-5.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the United States and the District of Columbia). This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.