Acquisition

Dawnay, Day Carpathian PLC 22 October 2007 Dawnay, Day Carpathian PLC ('DDC' or the 'Company') Announces the Acquisition of multi-purpose development sites in Satu Mare, Romania Dawnay, Day Carpathian PLC, the retail property investment company established to invest in Central and Eastern Europe, is pleased to announce that it has acquired a fourth multi-purpose development site for a value in excess of €9.5 million in Satu Mare, Romania (the 'Satu Mare Development' or 'Satu Mare Transaction'). This acquisition is the last of the four pipeline deals identified by the Company's property investment manager, Dawnay, Day PanTerra Limited (the 'Property Advisor') at the time of the second fund raising completed in May 2007. Further opportunities arising since the pipeline deals are now also being strongly pursued. Satu Mare Development The City of Satu Mare is located in Satu Mare County in the north-west and is one of the largest cities in Romania. It is significant in the region in terms of commerce, trading, culture and due to its proximity to the Hungarian border. The site is approximately 27,000 sq m and the planned development is estimated at 31,000 sq m gross lettable area and will comprise a retail and entertainment complex. The acquisition will be funded by DDC out of existing cash resources. The plot is centrally located, just south of the main high street and adjacent to a busy junction. The site benefits from a large catchment area, good access and transport links from the important areas of the city. The estimated gross development value is €64 million, to be financed from a combination of equity and debt and the project is expected to be completed within approximately 23 months. Based on a capitalisation yield of 7%, this puts the estimated project value upon completion at €84 million. This development is also to be undertaken in conjunction with a local partner described in the previous announcement dated 28 September 2007. The joint venture has been arranged by the Property Advisor to operate in the local market as Atrium Developments. It is also intended that the Atrium joint venture will include the Cluj-Napoca, Arad and Baia Mare transactions previously announced on 15 August 2007, 28 September 2007 and 15 October 2007 respectively. The acquisition is a share purchase transaction from two holding companies in which members of the Dawnay, Day Group have a controlling interest and represents the Company's fourth investment in Romania and the nineteenth transaction overall. The leasing of the space, arranged through DTZ Echinox, is progressing well. Following the acquisition, members of the Dawnay, Day Group have agreed to subscribe for an estimated €200,000 of new ordinary shares in DDC, representing profits from the Satu Mare Transaction. Commenting on the acquisition, Rupert Cottrell, Chairman of Dawnay, Day Carpathian PLC said 'DDC is confident in the development opportunities in the retail market in Romania and is pleased to announce its fourth such project. This investment will further underline our presence in the market and enable us to benefit from economies of scale with relation to the construction and development process.' Enquiries: Dawnay, Day PanTerra Peter Klimt 020 7834 8060 Paul Rogers Balazs Csepregi Cardew Group Tim Robertson 020 7930 0777 Catherine Maitland Numis Securities Bruce Garrow 020 7260 1000 Anthony Richardson Notes to Editors DDC listed on the AIM market in July 2005 and raised new funds to create a geared €1 billion portfolio of retail properties. To date, the Company has purchased four shopping centres and 31 retail units located within a residential development in Poland, the Antana Warehouse Park in Hungary, the Varyada Shopping Centre in the Czech Republic, the Promenada Shopping and Business Centre in Poland, the Plaza Portfolio of four shopping centres in Hungary, Macro Mall shopping centre in Brasov, Romania, Babilonas shopping centre in Panevezys, Lithuania, three retail developments at Cluj, Arad and Baia Mare in Romania, and the Mid portfolio across Hungary and the Czech Republic. This information is provided by RNS The company news service from the London Stock Exchange

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