SOURCE: EuroTrust A/S

December 04, 2006 06:37 ET

Acquisition of Real Ejendomme A/S to Occur on January 1, 2007

COPENHAGEN, DENMARK -- (MARKET WIRE) -- December 4, 2006 -- EuroTrust A/S (NASDAQ: EURO) today announced that the due diligence in regard to its proposed acquisition of Real Ejendomme A/S has been completed and that the acquisition will close on January 1, 2007. EuroTrust also announced that the parties had agreed to extend the deadline for the completion by EuroTrust of its due diligence in regard to the proposed acquisition of JBH Gruppen A/S, to January 15, 2007.

JBH Gruppen A/S and Real Ejendomme A/S are multi-disciplined real estate development companies with broad experience in retail, office and multi-family real estate development. These companies expect to deliver 3 multi-family projects by the end of 2006, 4 retail and multi-family projects by 2007 and 5 retail and multi-family projects by 2008-2009.

About EuroTrust A/S:

EuroTrust (NASDAQ: EURO) owns European property and property development businesses and wind energy farms. More information about EuroTrust and its subsidiaries is available at

Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause EuroTrust's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: (a) economic and other factors that could affect the development and sales of properties such as (i) a downturn in the housing market in Denmark or Norway, (ii) delays in obtaining necessary governmental permits and approvals, and (iii) delays in the construction of housing units; (b) factors that could impact the development and sale of wind energy such as (i) the availability of wind energy turbines for the development of new wind farms, (ii) the market price of electricity, and (iii) the amount of wind in any year; and (c) general economic, political and labor conditions. More information about potential factors that could affect the company's business and financial results is included in EuroTrust's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 20-F for the year ended December 31, 2005 and quarterly reports on Form 6-K. EuroTrust undertakes no obligation to update any of the forward-looking statements after the date of this press release.

Contact Information

  • EuroTrust Contact:
    Bo Kristensen
    CEO EuroTrust
    +45 7550 2475
    Email Contact