At the same time Freeport has completed the acquisition of Freeport Leisure (Czech Republic)--the company which owns the Excalibur site on the Austrian/Czech border crossing - for €6.2 ($5.4 million). The company has detailed planning consent to build a 240,000-sf outlet mall and construction will now begin in May 2002.

Collidge said: ''Freeport is again leading the way with the first designer outlet mall located in a 'duty free' zone. The outlet mall at Excalibur will provide shoppers witha triple bonus - no duty, no sales tax and 30% discounts.'

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