Engel East Europe N.V.

Notice of Annual General Meeting ('AGM')

Engel East Europe N.V. ('Engel' or 'the Company') the AIM-listed Central and Eastern European property developer (EEE:L), today announces that it has posted to its shareholders a notice of an AGM to be held on Thursday, May 28, 2009 at 10.00 a.m. at the Company's registered office, at 204 Rapenburgerstraat, 1011MN Amsterdam.  

The notice for the AGM will be made available on the Company's website at www.engel-ee.com.

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Enquiries:

Engel East Europe N.V.                                                  Tel: +31 20 778 4141

Sam Salman                    

Samuel Hibel                    

Libertas Capital Corporate Finance Limited         Tel: +44 (0) 20 7569 9650

Sandy Jamieson    

Bankside Consultants                                                    Tel: +44 (0) 20 7367 8888

Simon Bloomfield

Steve Liebmann

Andy Harris