SOURCE: EuroTrust A/S

February 13, 2007 15:15 ET

EuroTrust - Wind Farm Investment Update

COPENHAGEN, DENMARK -- (MARKET WIRE) -- February 13, 2007 --EuroTrust A/S (NASDAQ: EURO) today announced that it had secured project rights in Bulgaria, where it is the intention to commence construction on the first phases within 2007 pending a final construction permit. With these latest acquisitions EuroTrust expects to own 44,5 MW of wind farm capacity in Bulgaria, hence positioning them as one of the major players in the Bulgarian Wind Industry.

Furthermore, EuroTrust has increased their project rights pipeline in Italy with an additional 7,5 MW increasing the overall Italian wind farm capacity in development to 221,5 MW on top of the 3 MW already in operation.

With the latest expansions, EuroTrust now has increased the amount of secured project rights with 48 MW to an accumulated capacity of 442 MW. Bo Kristensen says, "We are delighted with the progress of our expansion in Bulgaria, which we see as a strong future market for wind energy projects offering good wind resources and a current possibility to enjoy preferential tariffs. Furthermore, we are pleased to see that our activities in Italy continue to expand as it is one of our key markets."

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 www.eurotrust.dk

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 7696 6000
    Email Contact