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Nanette Real Estate Group N.V.

('Nanette', 'Company' or 'Group')

Directorate Changes

Nanette Real Estate Group N.V., the Central & Eastern European residential real estate developer, is pleased to announce that Mr. Ron Hadassi, who is currently a director in the company, is to be appointed as a Vice-Chairman and an executive director of Nanette, subject to approval at the EGM to be held on the 6th of August 2009.

Nanette is also pleased to announce that, subject to approval at the EGM, to be held on the 6^th of August 2009, Ms. Sophie van Oosterom will join Nanette's Board, as a non-executive director with effect from the 6^th of August, as the Lehman Real Estate Private Equity ('LBREP') representative, replacing Gerald Parkes, who stepped down from the Board on 29^th of May, 2009. LBREP is holding 25,762,416 ordinary shares representing 14.96% of the issued share capital of Nanette.

Furthermore, Mr. Ferenc Karl Sr., who will represent  Leo Artec Limited ('Leo') and Mr. Alon Bachar, who will represent Olimpia Real Estate ('Olimpia'), will be joining Nanette's Board, again subject to shareholder approval at the forthcoming EGM, as independent non-executive directors with effect from  the 6th of August, 2009.  Leo is holding 16,836,720 ordinary shares, representing 9.763% of the issued share capital of Nanette. Olympia is holding 56,003,079 ordinary shares, representing 32.475% of the issued share capital of Nanette. 

Chairman of Nanette, Shaul Lotan said:

'We would like to thank Mr. Gerald Parkes for his contribution to Nanette's achievements. Furthermore, we are very pleased to add figures of such calibre to Nanette's board. Their expertise and knowledge of our industry will provide us with valuable additional resources.'

 

Sophie van Oosterom (37)

Ms. Sophie van Oosterom is currently Managing Director and European Head of Asset Management of Real Estate Private Equity at Lehman Brothers. Ms. van Oosterom is responsible for €10bn of assets under management, currently through portfolio companies spread over various European countries and South Africa. 

Previously, Ms. van Oosterom was a Senior Vice President with Lehman Brothers from 2002 to 2008. 

Ms. Van Oosterom's current directorship positions include the following private companies:

Chancerygate (Business Centre) Limited

CP Heathrow

CP (Leeds) Limited

Centre Hotels (Cranston) Limited

GONDOLA-HÁZ Ingatlanforgalmazó és Hasznosító Korlátolt Felelősségű Társaság

HI (Guildford) Limited 

HI (Reading South) Limited

HI (Hemel Hempstead) Limited

HI (Milton Keynes) Limited

HI (Birmingham City) Limited

HI (Birmingham M6 J7) Limited

HI (Colchester) Limited

HI (Farnborough) Limited

HI (Ipswich) Limited 

HI (Edinburgh) Limited

HI UK Limited

HI (Brentwood) Limited

HI (Chester South) Limited

HI (London Heathrow Ariel) Limited

HI (Southampton) Limited

HI (London Gatwick) Limited

HI (Lancaster) Limited

HI (London Heathrow M4 J4) Limited

HI (London Heathrow M4 J4) No. 2 Limited

HI Finance Properties Limited

HI (Carlisle) Limited

HI (Coventry) Limited

HI (Eastleigh) Limited

HI (High Wycombe) Limited 

HI (Basildon) Limited

HI (Regents Park) Limited

HI (Norwich) Limited

HI (Leicester) Limited

HI GC Limited 

HI (Brent Cross) Limited

HI (Edinburgh North) Limited

HI (Maidenhead) Limited

HI (Strathclyde) Limited

Kensington PH Limited

LRG Holdings Limited

LRG Acquisitions Limited 

LRG Hotels Limited

LRG Health and Fitness Limited 

Leased Hotels Limited

LRG Hotels Group (UK) Limited 

London LRG Hotel Limited

LRG (UK) Limited 

LRG Holdings No 2 Limited

LRG IG Limited

NAS Cobalt No. 2 Limited

SC Hotels and Holidays Limited

OK Investments Spz.o.o.

Pendigo Hotels Limited 

Robyg SA

 

Ms. Van Oosterom's previous directorship positions included the following private companies: 

Agrippa Srl 

Banaleno Trading & Investments Ltd

Collatina Srl 

Cultuck Holdings Gallco Ltd 

Lodi Srl

Lincotimotejen Holding AB 

Lincotimotejen AB

Lincocronan AB

Linco Fastighets AB

Lincosmultronet 2 AB

Lincogetingen 15 AB

Lincoaprikosen 3 AB

Magolfa Srl 

Navigli Srl 

Olgettina Srl 

Objectline Investments ltd

SIA Skaistais Krasts

SIA CAPITOLIA GROUP

Sunnytown investments ltd

Resitalia Srl

 

Liquidation / Insolvency of previous directorship positions:

SIA Capitolia Group was declared insolvent on 13 May 2009 following a creditor's petition for its insolvency; however, the directors had already taken the decision to file for SIA Capitolia Group's insolvency before the creditor's petition had been filed.  

There are no further disclosures pursuant to the AIM Rules

Ferenc Karl Senior (69)

Mr. Ferenc Karl Sr. was the Deputy Manager, Legal Department, Magyar Telecom Rt. (the Hungarian Telecommunications Company) until 2008. He brings extensive business and legal experience by heading several legal departments in large organizations in Hungary. 

Mr. Karl has been a board member of the following companies/partnerships:

Between1994-2008 he was a board member of Matáv MRP Szervezet, a publicly listed company on the Budapest Stock Exchange and the New York Stock Exchange. Between 1995-2005 he was a member of the Supervisory Board of Emitel ZRt., a private company. In 1992-2000 he was the Chairman of the Supervisory Board of Intertrade ZRt., a private company.

There are no further disclosures pursuant to the AIM Rules

Alon Bachar (40)

Mr. Alon Bachar is currently the CFO of Bronfman Fisher Group Tel Aviv, since July 2006. He is Responsible for investment management, handling transactions, fund raising and relations with the banks.  Mr. Bachar is also responsible for various day to day operations of the group. From Feb 2003 to July 2006 Mr. Bachar was Deputy Chief Corporate Division of the Jerusalem Bank and deputy Chief of the main branch of the bank.

From 1999 to 2003 Mr. Bachar was Credit Officer of the Corporate Division of the Industry Development Bank, Tel Aviv. From 1996 - 1999 Mr. Bachar was an analyst and Credit Officer Corporate Division of Leumi Bank - Headquartered in Tel Aviv

Mr. Bachar serves as a director in the following public companies listed on the Tel Aviv Stock Exchange:

Isralom Properties Ltd 

Palace Industries (P.I.) Ltd 

Supersol Ltd 

There are no further disclosures pursuant to the AIM Rules

22/07/09

Enquiries:

Nanette Real Estate
Shaul Lotan	+ 31 20 778 4141
Eyal Keltsh	+ 48 606 141 201
Global Equity IR	07956 206270
Amira Bardichev
KBC Peel Hunt	020 7418 8900
Capel Irwin

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