Acquisition

Dawnay, Day Carpathian PLC
14 July 2006




                       DAWNAY, DAY CARPATHIAN PLC


       Acquisition of Babilonas Shopping Centre, Panevezys, Lithuania

Dawnay Day Carpathian Plc ('Dawnay, Day' or the 'Company') is pleased to
announce that it has acquired the Babilonas Shopping Centre in Panevezys,
Lithuania for approximately €32.5m, to be financed by €24.4m in debt and €8.1m
in equity. The acquisition represents a net initial yield of 7.3%.

The Babilonas centre was developed by Ogmios Centras and Rivona in 2005 and is
anchored by a Norfa hypermarket. Babilonas offers over 21,000 sq m of lettable
space and 1,200 car parking spaces. Babilonas is the only modern covered
shopping centre in Panevezys and has an estimated catchment population over
200,000 people. The average rent in the centre is €9.8 per sq m, which
represents a substantial discount to the town centre.

Panevezys is a fast developing city situated in the middle of Lithuania on the
Via Baltica highway and it is halfway between the two Baltic capitals - Vilnius
and Riga. The local government has a record for attracting and supporting new
investment into the City.

This acquisition represents the sixth property transaction by the Company since
its flotation in July 2005 and fits Dawnay Day's strategy of buying high quality
retail assets in Central and Eastern Europe that offer attractive yield and
capital growth characteristics. Ogmios Centras have already started construction
works on the 2nd phase of the Babilonas project on the same 52 hectare lot,
which will include further complimentary retail, entertainment, office and
residential development and serve to further strengthen the trading location.

Dawnay, Day would like to thank the vendor and their advisors for their
professional co-operation throughout the transaction. The vendor was represented
by Koba and Dawnay Day were advised by Lawin.

Commenting on the acquisition, Rupert Cottrell commented: 'This is our first
acquisition in Lithuania, a country which is showing significant growth in terms
of GDP. Babilonas is just the sort of well located, easily accessible retail
property, with excellent growth prospects and a broad tenant base, that
characterises our expanding portfolio.'


Enquiries:

Dawnay, Day Carpathian PLC  Peter Klimt             020 7834 8060
                            Paul Rogers

Cardew Group                Tim Robertson           020 7930 0777
                            Catherine Maitland


Notes to Editors

DDC listed on the AIM market in July 2005 and raised new funds to create a
geared €1 billion portfolio of retail properties. To date, the Company has
purchased four shopping centres with a property valuation of €64.5 million in
Poland, the Antana Warehouse Park in Hungary valued at €21.0 million, the
Varyada Shopping Centre in the Czech Republic valued at €37.0 million, the
Promenada Shopping and Business Centre in Poland for an initial €127.0 million
and the Plaza Portfolio of four shopping centres in Hungary for an initial €61.0
million.


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