The new Board of Meinl International Power will swiftly implement yesterday’s EGM decisions

Vienna, 29 July 2009
 
The Board welcomes the support shown by certificate holders at the Extraordinary General Meetings held yesterday, 28 July 2008 in Vienna.
 
The New Board will actively embrace the mandate given by certificate holders at the meetings. It has commenced a full review of the fund management arrangements for Meinl International Power, with a view to putting proposals to certificate holders as quickly as possible to separate the business from the Meinl Group, and enhance certificate holder value.
 
Since the beginning of June, the Company has been approached by a number of third parties interested in a corporate relationship with Meinl International Power. Given the uncertainties surrounding the situation prior to the EGMs, it was not possible to conclude discussions. The New Board will therefore, alongside its review of the fund management arrangements, also engage in discussions in relation to the most attractive of these proposals for Meinl International Power.
 
Hans Haider, Chairman of the Board, commented "I am delighted with the result of the EGMs yesterday. The Board Proposals facilitate the separation from the Meinl Group and represent a significant transfer of value to MIP certificate holders."
 
 
Further Contact:                   SCHOLDAN&COMPANY
                                                Bernhard Grabmayr
                                                Tel + 43-1-513 23 88-0