euro adhoc: Atrium European Real Estate Limited / other / Atrium opens two shopping centres in Poland

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26.11.2008

Atrium European Real Estate Limited
("Atrium" or the "Company")

Atrium opens two shopping centres in Poland
- Anchored by major supermarkets and over 98% let -

Jersey, 26 November 2008. Atrium European Real Estate (VSX: ATR), one
of the leading real estate companies focused on shopping centre
investment, management and development in Central and Eastern Europe,
announces the opening of two shopping centres in Poland, ahead of the
key Christmas trading period. The opening yesterday of the Galeria
Kasztanowa shopping centre, in Pila, was followed today by that of
Forum Koszalin shopping centre in Koszalin, in which Atrium holds a
50.1% interest. Both centres are over 98% let to a strong tenant base
of international, national and local retailers which have been
selected to suit local requirements.

Forum Koszalin Anchored by a 10,000 sqm Tesco, the 82,000 sqm centre
has a Gross Lettable Area ("GLA") of 53,970 sqm and is 99% let upon
opening with an average lease length of 9.2 years. It is located in
Koszalin, the second largest city in the West Pomerania region of
northern Poland, with a local population of 170,000 people. With good
transport links, 1500 car parking spaces and a large catchment area
with a strong local economy boosted by tourism owing to its location
only 10 km from the coast, Forum Koszalin has attracted strong tenant
demand from both national and international retailers. As well as
Tesco, it has attracted Media Markt, Europe's largest retailer of
consumer electronics and a large number of well known Polish national
and local retailers.

The second 10,000 sqm property in the two building complex is let
entirely to Castorama, one of the biggest European DIY chains, and
opened on 15 November 2008.

The centre also includes a Silverscreen cinema, a Gymnasion fitness
centre and a number of restaurants, all of which help make the centre
a destination location, drive footfall and allow extended opening
hours to increase income generation.

Galeria Kasztanowa Located in North West Poland, Pila serves a local
population of over 75,000 inhabitants. The 51,000 sqm centre is
anchored by Bomi, the Polish food retailer, which has a chain of 239
stores, is listed on the Warsaw Stock Exchange and has taken 2,500
sqm of space. With 66 retail units in total, covering 12,100 sqm of
GLA, it is 98.6% occupied by a broad range of quality national
tenants. To encourage footfall, it also has a multiplex cinema, run
by Helios, a number of restaurants and 433 car parking spaces.

These two projects follow the opening in June 2008 of Atrium's Forum
Trabzon development on the Black Sea Coast of Turkey. Forum Trabzon
has a GLA of approximately 49,000 sqm and is the largest retail
development within a 300 km radius. Tenant mix includes Marks &
Spencer, McDonald's, Douglas, Intersport, Nike, Levis, LaCoste and
Benetton, as well as well-known local groups such as hypermarket
Migros and DIY Koctas, underlying Atrium's ability to attract high
quality tenants and international occupiers.

Rachel Lavine, Chief Executive of Atrium, said: "These two
developments are excellent examples of our ability to attract the
most appropriate tenants for the local catchment area. At Galeria
Kasztanowa, we have offered flexible spaces and a wide range of rents
that have attracted strong national Polish brands that are suited to
the needs of the local population. Contrastingly, at Koszalin there
is a much larger catchment area with an 8.5% above average purchasing
power and a regular influx of tourists, which is more fitting to
international retailers such as Tesco and Media Markt."

"We maintain a strong presence in Poland, with 15 shopping centres
operating across the country and have a number of developments at
various stages of construction. With tenant and consumer demand still
strong in the region, we continue to maintain a strong income stream
from our operational investment properties."

Financial Dynamics: +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones
Richard.sunderland@fd.com

Notes to editors:

About Atrium European Real Estate Limited Atrium is a real estate
investment and development company whose primary focus is on retail
assets in Central and Eastern Europe, where it operates in 11
countries. At 30 June 2008, Atrium had 160 operating investment
properties with a market value of just over EUR2 billion and a
significant portfolio of development projects. In addition, it has
established a land bank of over 1.9 million sqm. For the six months
to 30 June 2008. Atrium had a gross rental income of EUR64.1 million
(2007: EUR62.3 million).

end of announcement euro adhoc
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ots Originaltext: Atrium European Real Estate Limited
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Financial Dynamics, London

Stephanie Highett / Richard Sunderland

Phone: +44 (0)20 7831 3113

mailto:richard.sunderland@fd.com

Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Continous
Börsen: Wiener Börse AG / official market