GE adds to Central European portfolio.

SLOVAKIA : GE Commercial Finance Real Estate has acquired three shopping centres in Slovakia from development companies EuroMax a.s. and SlovakiaMax a.s.

The "Max", in Trnava, which was completed late 2004, has been purchased for 14.2 million Euros. The 10,000 sq m (107,639 sq ft) shopping centre comprises 65 speciality stores and a multiplex cinema, the centre is anchored by Austrian chain Billa. Other tenants include Kenvelo, EXISport and Mountfield.

GE Real Estate has also contracted to acquire the Max centres in Poprad and Trencin. Both shopping centres opened in December and are anchored by Hypernova supermarkets, operated by Ahold.

Karim Habra, Managing Director, GE Real Estate Central Europe, commented: "One of our key strategies for growth has been to invest in the strengthening retail markets across Central and Eastern Europe.

"We believe strongly that Slovakia will continue to benefit from this trend and are therefore delighted to have acquired these assets.

"The transactions further demonstrate our commitment to investing in Central Europe and underline our continued interest and appetite to grow GE's presence in the region."

GE Real Estate currently has approximately in Euros 1 billion of investments in the region, with assets in the Czech Republic, Poland, Hungary, Slovakia, and Bulgaria.