Advance Terafund Currently Owns 157 917 Decares of Agricultural Land

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Since the beginning of 2007 Advance Terafund REIT has invested a total of 7.32 mln leva in purchases of agricultural land in the country.

Towards the end of April 2007 Advance Terafund REIT owns 157 917 decares of land and the average price for all properties after the Fund has started its activity and after all taxes have been paid is 207 leva.

In April 2007 the company purchased land on an area of 5.5 decares in the city of Vratsa. 60 km of the side of the property lay on the side of the Sofia-Vratsa main road, there is electricity and water drainage through the parcel and the price paid is 8 EUR/sq.m. The investment is worth a total of 86 056.52 leva.

As of April 30, 2007 Advance terafund has signed contracts for the lease of 57 500 decares or 46% of all land bought towards the end of 2006.

For the agricultural 2006 and 2007 land can be given on lease or rented till May, 15 which is the deadline for farmers to submit application for direct subsidies.

The average contracted price for rents and lease so far this year has been 11.16 leva per decare. Advance payments made so far this year are in the amount of 91 900 leva. Yields on the contracts for lease and rent signed this year are expected to be at 641 943 leva.

The company’s stock added 1.25% in yesterday’s trade to an average of 1.62 leva/share.

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