Alfa Property 1 Puts Out to Lease Property at 115.5 000 Leva a Year

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At a meeting of the Board of Directors of Alfa Property 1 REIT Sofia held May 15, 2007 the chairman of the Board was authorized to sign a contract with Sofstroy Beton EAD for the lease on a property owned by the company, BSE announced.

The property comprises land, a steam power station, a laboratory, an administrative building, a garage cell and a pump station. The contract will be for a period of one year with the possibility of extension.

The total price is 115 500 leva (VAT not included). The first payment will be in the amount of 19 000 and the rest will be paid in 11 monthly installments of 8 800 leva starting June 1, 2007.

In the beginning of April Balto-Slavik Ventures Limited acquired 50% of the capital of Alfa Property 1 REIT at 3.966 leva/share or for a total of 1.289 mln leva.

According to its prospectus Alfa Property 1 is planning to invest primarily in the “administrative areas” and “commercial areas” sectors and to operate mainly in Sofia, Varna, Plovdiv and Burgas.

The company’s stock was last traded on BSE January 5, at 39.00 leva/share.

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