Land Bank Increases to 100,400 Hectares

 

Landkom International PLC (AIM: LKI, "Landkom" or the "Company"), the Ukrainian producer of high-value oil seed rape and wheat, has doubled its land bank during the first five months of 2008.

Since its last announcement at the beginning of March 2008, Landkom has added a further 33,400 hectares, giving it a total land bank of 100,400 hectares. This is well ahead of required progress to meet the company's stated land bank target of 115,000 hectares by the end of 2008.

All the land acquired is in Ukraine and has been selected in areas which provide good rainfall and soil parameters for the production of oil seed rape and wheat.

Richard Spinks, Landkom Chief Executive, commented:
"This is a tremendous achievement by our land acquisition team. The land acquisition programme has accelerated quickly due to the greater experience of the team and the improved efficiencies this creates. Last year we said we intended to add a further 65,000 hectares in 2008, over and above the 50,000 hectares acquired in 2007, giving us a total land bank of 115,000 hectares by the end of this year. We have now more than doubled our total land bank during the first five months of 2008 and are well ahead of our original land bank targets for the year."

For further information:

Landkom International PLC (www.landkominternational.com)
Richard Spinks, Chief Executive
Tel: +380 673 410 140

Libertas Capital
Aamir Quraishi/Anthony Rowland
Tel: +44 (0)20 7569 9650

Liberum Capital
Simon Atkinson Tel: +44 (0)20 3100 2223

College Hill
Simon Whitehead/Adrian Duffield
Tel: +44 (0)20 7457 2020

 

03 June 2008

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