Acquisition of 31 retail units in Warsaw, Poland

The individual assets are being purchased in two phases. The first phase comprises the purchase of 25 properties completed on 16 October 2007 with an equity contribution from DDC of €1.72m. The second phase purchase, comprising the remaining 6 properties, is expected to complete and be transferred into DDC in the first quarter of 2008, using an additional €750,000 financed by DDC. The balance of the funding for the acquisitions will be financed through bank debt on competitive terms.

The premises are let at a minimum of five years to a variety of tenants focusing on the convenience goods and services segment serving the local residents. The majority of shops are each between 40 and 70 sq m in size and are located on the ground floors of six apartment buildings. 32 parking spaces are also included as part of the purchase. Once fully completed, this purchase will provide the Company with ownership of 100% of the retail units and associated parking within Marina Mokotów.

Marina Mokotów is an upmarket residential development of almost forty apartment buildings, some up to seven storeys tall, and approximately sixty detached and semi-detached homes situated on 310,000 sq m of land. At the junction of Zwirki i Wigury and Racławicka Streets, the development is well-located, proximate to Warsaw’s international airport, 3km to the south and also the city centre, 4km to the north along Zwirki i Wigury. The Mokotów district is well served by public transportation and considered a major residential area as well as a non-central office location.

Commenting on the acquisition, Rupert Cottrell, Chairman of Dawnay, Day Carpathian PLC said “This acquisition represents the fifth transaction since the £100m secondary fund raising completed in May 2007 and demonstrates the continued progress DDC is making in establishing a premier retail portfolio across Central and Eastern Europe.”

Enquiries:

Dawnay, Day Carpathian PLC
Peter Klimt
Paul Rogers
020 7834 8060

Cardew Group
Tim Robertson
Catherine Maitland
020 7930 0777

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 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.TEST