Ablon Group Limited : Response to announcement by CPI Group

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

For Immediate Release                                                                                    26 February 2013

Ablon Group Limited ("Ablon" or the "Company")

Statement in relation to the announcement regarding an unconditional mandatory cash offer to be made by CPI Group a.s ("CPI") for the entire issued share capital of the Company not already owned by CPI ("Offer")

The board of Ablon ("Board") notes the announcement by CPI on 22 February 2013 of an unconditional mandatory cash offer to be made by CPI for the entire issued share capital of the Company, not already owned by CPI, at a price of 22.5 p per ordinary share of ?0.01 in the Company ("Ordinary Share"), valuing the Company's entire issued share capital at £30.8 million. Whilst the Board recognises that the Offer would provide shareholders with the opportunity to exit their investment; as stated in the Company's announcement of 15 February 2013, the Board believes that an offer at 22.5 pence per Ordinary Share does not fairly reflect the underlying value of the Company and its assets.

The Board also notes CPI's intention to seek a recommendation for the Offer from the Board and will provide in due course their further views and/or a recommendation as to what action shareholders should take.

Each member of the Board accepts responsibility for the information contained in this announcement and, to the best of each member of the Board's knowledge and belief (having taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

A further announcement will be made by the Board in due course, as appropriate.

Enquiries:
Alex Borrelli / Adrienn Lovro

Ablon Group Limited

+44 7747 020 600/+36 1 225 6600

Roland Cornish/Emily Staples

Beaumont Cornish Limited

+44 207 628 3396

Beaumont Cornish Limited ("Beaumont Cornish") which is authorised and regulated in the United Kingdom by The Financial Services Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Beaumont Cornish or for providing advice in relation to the matters described in this announcement.

A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) at http://www.ablon-group.com by no later than 12 noon (London time) on 27 February 2013, being the business date following the date of this announcement.

About ABLON Group Limited

Founded in 1993 in Budapest (Hungary), ABLON and its subsidiaries (together the "ABLON Group") has properties at 33 locations, of which there are 15 completed projects and 23 development projects in Budapest, Prague, Bucharest and Warsaw. Its portfolio comprises a diversified mix of office, residential, retail, logistics and hotel developments valued at ?385 million as at 30 June 2012. The ABLON Group had, as at 30 June 2012, 202,000 square metres of existing and income generating office, residential, hotel, retail and logistics assets (at 15 locations) in Budapest and Prague, with a significant development land bank comprising a further 1,159,600 square metres (at 23 locations) in Budapest, Prague, Bucharest and Warsaw. ABLON's shares are traded on the Main Market of the London Stock Exchange under the ticker 'ABL'.