APA ots news: Meinl Airports International Board directors step down

Mr. Georg Kucian, Mr. Karel Römer and Dr. Heinrich Schwägler have agreed to step down from the Board with effect from the conclusion of the Annual General Meeting of the Company to be held on 28 July 2008.

As previously announced, Peter Henkel, a seasoned airports specialist with some 30 years experience, and Dzintars Pomers, former President and CEO of Riga International Airport, have agreed to join the Board as additional directors, such appointments to be confirmed subject to the outcome of the Extraordinary General Meeting of the Company which has also been convened for 28 July 2008. In addition, the Company has appointed an international executive search consultancy to seek up to three further new Board members in place of the directors who have agreed to stand down. The Company welcomes the opportunity to work with all investors to ensure that the best possible candidates are identified.

Also as previously announced, the agenda for the Annual General Meeting includes a resolution to amend MAI's Articles of Association. This amendment, if approved, will have the effect of requiring one third of directors to stand for re-election on an annual basis, from 2009 onwards. This will further enhance the Board's accountability to its shareholders and certificate holders.

Louis Turpen, Chairman of MAI, said: "The changes to the MAI Board announced today are in the best interests of the Company and clearly further demonstrate the independence of the Board. With the proposed appointments we announced on 11 July and the steps now being taken to further strengthen the Board, I firmly believe that we will achieve the right balance of skills to take the business forward for the benefit of all our shareholders and certificate holders. I would like personally to thank Georg Kucian, Karel Römer and Heinrich Schwägler for agreeing to step down to make way for new appointments and to allow us to demonstrate the Board's clear independence.

Blackwood Capital Group Holding Limited is acting solely for Meinl Airports International Limited in connection with the matters referred to in this announcement and will not be responsible to anyone other than Meinl Airports International Limited for providing the protections afforded to clients of Blackwood Capital Group Holding Limited or for providing advice in relation to the matters referred to in this announcement.

Lazard & Co., Limited is acting solely for Meinl Airports International Limited in connection with the matters referred to in this announcement and will not be responsible to anyone other than Meinl Airports International Limited for providing the protections afforded to clients of Lazard & Co., Limited or for providing advice in relation to the matters referred to in this announcement.

About Meinl Airports International

MAI is a long-term investor in airports and airport-related businesses with a particular focus on growth markets in Central and Eastern Europe, South Eastern Europe and Russia. The Company was founded in 2006 and since April 2007 its certificates, representing shares in the Company, have been listed on the Third Market of the Vienna Stock Exchange.

MAI has successfully made seven acquisitions already and today is an active investor in airports with a combined total of more than 30 million annual passengers. In both Poland and Russia, MAI was the first foreign investor in international airports. The Company's current portfolio includes investments in Lake Baikal Airport, Ulan Ude (Russia), TAV Airports (Turkey), Sochaczew Airport Development (Poland), Bydgoszcz Airport (Poland) and Parma Airport (Italy). The Company believes that all of these airports have a significant future growth potential.

MAI is also currently evaluating further potential investments, the majority of which are located in the Company's core target markets of Central and Eastern Europe, South Eastern Europe and Russia.

MAI is incorporated and registered in Jersey (registered number 93803), with its registered office at 26 New Street, St Helier, Jersey, Channel Islands JE2 3RA.

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