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Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria Announces Investment in Bolivia Farmland

BUENOS AIRES, Argentina, Nov. 20 /PRNewswire-FirstCall/ -- Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria (the "Company") (Nasdaq: CRESY) reported today to the Argentine Comision Nacional de Valores and to the Buenos Aires Stock Exchange that it agreed the purchase of approximately 7,600 ha of farmland inBolivia at USD 17,501,359.99. The company has paid 43% of total amount while the rest remain to be paid in two annual consecutive payments, the first one to be paid during calendar year 2009. These transactions were made according to what was stipulated in the Company plans made public upon the Equity Follow on of last March, regarding international expansion.

About Cresud:

Cresud is a leading Argentine agricultural company with a growing presence in the Brazilian agricultural sector through its investment in BrasilAgro-Companhia Brasileira de Propriedades Agricola. Cresud is currently involved in a range of activities including crop production, cattle raising and milk production. Cresud's business model, which it seeks to roll out abroad, taking into account the specific conditions of each country, focuses on the acquisition, development and exploitation of properties having attractive prospects for agricultural production and/or value appreciation and the selective disposition of such properties where appreciation has been realized.

SOURCE Cresud S.A.C.I.F. y A.

Tags: ,AGR,FOD,CON,Cresud-invests-farm

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