Elana Agricultural Land Opportunity Fund REIT Owns More Than 200,000 Decares of Agricultural Land

At the end of July 2007 Elana Agricultural Land Opportunity Fund REIT () owns 204,300 decares of arable land acquired at an average price of 194 euros/decare (all dues included), BSE reports.

The fund has acquired 214 decares near Sofia and it is in the middle of a procedure for changing the parcel's statute.

As of July 31, the number of properties acquired by the fund stands at 28,500, 38% of which situated in the nort-central region, 23% in the nort-western region, 20% in the north-eastern and 19% in the south-eastern region of the country.

In Bulgaria there are 10 categories of agricultural land type, categories 1-5 being the most suitable for cultivation. 84% (170,600 decares) of the land in the fund's portfolio belongs to category 3-5.

9% of the land is category 6, 4% category 1-2, and 3% category 7-10.

Towards end of H1, Elana Agricultural Land Opportunity Fund REIT succesfully transferred an emission of bonds worth 10 mln euros at a 7% interest rate. 410,000 shares changed hands on the position yesterday at prices between 2.13 leva and 2.17 leva.

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