Advance Terrafund REIT's Land Portfolio Reaches 217,000 Decares

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Advance Terrafund REIT's Land Portfolio Reaches 217,000 Decares

The value of Advance Terrafund REIT's () land portfolio has reached 67,849,000 mln leva (34.690 mln euros). The figure is not adjusted after 2007 reevaluation of assets.

At the end of January Advance Terrafund REIT owned 217,000 decares of agricultural land. The average acquisition price per decare stands at 217 leva (adjusted for all costs).

83% of the REIT's funds is invested in agricultural land and 17% in urban parcels.

The company invests primarily in the highest categories of arable land – 99% of plots belong to categories 1 – 6 (on a scale of 1 to 10, 1 being the most fertile). Leases for those parcels are most profitable.

Broken down to regions the land is allocated as follows: Central regions (30%), Northwestern region (15%), South central region (8%) and South eastern (3%).

On January 31 revenues from lease contracts for the agricultural year 2006-2007 stand at 527,680 leva. Revenues for the current 2007 – 2008 are insured by the Bulgarian Agency for Export Insurance.

Advance Terrafund REIT has signed contracts for the first four months of the 2007 – 2008 agricultural season (October, November, December, January) for some 69,470 decares of land, or 32% of all land.

The last transaction with the stock on BSE was at 2 leva/share.

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