Notice of AGM

Engel East Europe N.V.

Notice of Annual General Meeting ("AGM")

TUESDAY, 21 February 2012 - Engel East Europe N.V. ('Engel' or 'the Company') the AIM-listed Central and Eastern European property developer (EEE:L), today announces that it has posted to its shareholders a notice of an AGM to be held on Wednesday, March 7, 2012 at 10.00 a.m. at the Company's new registered office at 616 Keizersgracht, 1017ER Amsterdam.

The notice includes, inter alia, details of a resolution to amend the articles of association for the Company, which will include a change of name to Kimberley Enterprises N.V.

The notice for the AGM and the proposed new articles are available on the Company's website at www.engel-ee.com.

END

Enquiries:

Engel East Europe N.V. Tel: +31 20 778 4141

Assaf Vardimon

Libertas Capital Corporate Finance Limited Tel: +44 20 7569 9650

Sandy Jamieson