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The Managing Director of ING Real Estate Development Germany Mr. Bernd Hasse and the Chairman of BVS Outlet Villages Mr. Robin Behar are delighted to announce the purchase of the Landquart site to develop the Alpenrhein Outlet Village.

The 90,000m² plot situated between the Landquart train station and the A13 motorway, one of the major North-South arteries through the Alps, has been acquired by ING Real Estate Development from MIAG Mutschler Immobilien, Zuerich in July 2007. MIAG who developed the project over numerous years with the local authorities obtained the necessary planning consent for the 21,000m2 Alpenrhein Outlet Village in February 2007.

An agreement to finance, develop and ultimately manage the Alpenrhein Outlet Village had been reached between ING Real Estate Development and BVS Outlet Villages in March 2007. Construction is scheduled to start in Autumn 2007 with an opening in Winter 2008/9.

Says Bernd Hasse from ING: “We are extremely pleased about this project. Landquart is an exceptional site because it combines a fabulous tourism potential with a particularly affluent catchment population. It will not only be an ideal stop over for travellers on the Swiss rail and adjacent motorway but it also has the potential to become the most exciting shopping destination for people living within a one hour radius”.

Adds Robin Behar from BVS: “The Alpenrhein Outlet Village has quickly become very popular within the retail community eager to join this unique project. 25% of the space has already been leased at this point with a range of top brands from various categories such as high end fashion, ski and sportswear as well as accessories”.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Alain Van Hulle Managing Director Leasing & Commercial Operations alain.van.hulle@bvsvillages.com Tel.: +32 479 333 361

Barbara Horatz Marketing Director barbara.horatz@bvsvillages.com Tel.: +44 7887 760 810

Source : bvsvillages.com, August 10th 2007