Orco announced in its press release that Endurance Fund acquired 50% stake in Luxembourg Plaza (Prague) from Trigranit Development Corporation for total amount of EUR 16m. Over half of the 22,000 sqm space is pre-leased by international companies: Exxonmobile, GTS Novera. Luxembourg Plaza also includes 160 rooms Marriott Hotel. The official opening is planed for April this year. Note that at the end of 2005 Endurance Fund (EF) bought some other buildings in Prague including Mercury Tour and 4D Center. EF currently controls assets in the total amount of EUR 110m. The purchase fits into Endurance Fund strategy as it focuses on stabilized assets producing stable income. We see the news as slightly positive and reiterate our Buy recommendation.