GTC to conclude one of the largest office transactions in Central & Eastern Europe.
The Company has agreed the terms of sale for Mokotów Business Park – the biggest office complex in Poland, for 287.5 m USD.
GTC’s expansion in large Polish cities is accelerating

Globe Trade Cente S.A. and its three 100%-owned subsidiaries have agreed with Heitman European Property Partners III Fund the terms of sale for Mokotów Business Park in Warsaw.

The property being sold is the largest office complex in Poland and includes nine buildings with 107,000 sqm of net rentable area, and the right to perpetual usufruct of 7.3 hectares of land.

The execution of the final transaction is subject to the positive outcome of due diligence, the obtainment of relevant permits and financing by the Buyer, and should be completed before the end of 2006, but in any case not later than by 31st March 2007.

The price of the transaction has been agreed at 287.5 million dollars, free of any liabilities and encumbrances.
Such a price shall bring GTC an estimated profit before tax of 40 million dollars over the book value of the property.

Mokotów Business Park located between two major intersections in Mokotow, enjoys a convenient location between the city centre and Okęcie International Airport, with easy access to public transportation and ample parking. A wide range of services are available on-site (banks, restaurants, medical centre, pharmacy, post office and many other amenities) in addition to shopping and service facilities in Galeria Mokotow which stands adjacent. It is for these reasons that the business park has attracted renowned tenants, including some of the largest international corporations.

Development of MBP started in 1995 and was GTC’s first investment.
The sale of Mokotów Business Park is part of GTC’s strategy to further diversify its property portfolio both in terms of sector, geographical spread and maturity of assets.

Globe Trade Centre continues to expand both in Poland and in other countries of the region.
GTC has been active in the Polish real estate market since 1994, however, its current pipeline of projects under development in Poland represents the largest volume of investment in the Company’s history.

As a strategic move, GTC accelerated its expansion in large cities outside Warsaw. In Kraków the Company has already developed the Galeria Kazimierz shopping centre and Galileo office building, and is currently developing three new office buildings (Newton, Edison and a project next to Galeria Kazimierz) with total space of 35,000 sqm NRA, as well as a luxurious residential complex of 400 apartments. In Wrocław a 14,000 sqm A-class office building is under development.

Recently GTC acquired two sites for the development of approx. 50,000 sqm of net office space in Łódz, while in Poznan the Company has just purchased land in a prime city-centre location for a prestigious 200-apartment complex. GTC is seeking further opportunities to expand in major Polish cities in all three sectors: office, shopping centers and residential.

At the same time the Company is growing continuously in Hungary, Czech Republic, Romania, Serbia and Croatia. In 2006 GTC commenced operations inSlovakia, Bulgaria and Moldova.

In Budapest GTC has purchased three sites for office development (with the right to build a total of 170,000 sqm), while in Belgrade a third office project of approx. 24,000 sqm was acquired. In Romania following the acquisition (in collaboration with partners) of a 10 hectare residential site, a prestigious 44,000 sqm office project in the centre of Bucharest, and three shopping centre sites in mid-size cities, GTC’s portfolio has building rights to develop nearly 500,000 sqm of space. On the sea coast of Croatia GTC is going to develop together with partners a luxurious residential complex and a 5-star hotel next to a full-sizeprofessional golf course.

In Slovakia GTC has begun investing with a 500-unit, high-class apartment complex in Bratislava, while in Bulgaria GTC acquired a site close to the American Embassy in Sofia for a 15,000 sqm office project. In Chisinau – the capital city of Moldova – GTC purchased a 12,000 sqm A-class office building that is under construction and will be completed in early 2007.

Today GTC’s portfolio of projects completed, under development or in the pipeline stands at a potential 1.4m sqm.

Globe Trade Centre S.A.

KOR 45A, 02-146 Warsaw NIP: 527-00-25-113 T: +48 22 16 60 700

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