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Livermore Investmens Press Release 2007 / Acquisition of Significant Share position in Atlas Estates Ltd. ("Atlas")
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07 December 2007

Acquisition of Significant Share position in Atlas Estates Ltd. ("Atlas")

Livermore today announces the acquisition of 8.41% of the issued share capital of Atlas Estates Limited, by means of the purchase of 4,076,836 issued ordinary shares in Atlas at an average price of 277.48p per share. The total consideration for this investment is £11.3m in cash.

Atlas is an AIM-quoted real estate investment and development company. Atlas's strategy is to build a high yielding investment portfolio and generate additional capital gain through development projects, with a focus on residential development. Its activities are focused in Central and Eastern Europe, excluding Russia and other former Soviet Union countries. Its current assets are located in Poland, Hungary, Slovakia and Romania. In the eleven months to 31 December 2006 Atlas made a loss before taxation of €9.1m and at 30 June 2007 Atlas had net assets of €253.2m.

Noam Lanir, Chief Executive Officer of Livermore, commented: "We believe the investment in Atlas, which is in line with our strategy to establish an investment portfolio focused on areas of potential high growth, will deliver both dividend yield and capital appreciation.”

Hudson Sandler
Jessica Rouleau / Fran Read
020 7796 4133

Numis Securities
David Shapton
020 7260 1000