euro adhoc: Atrium European Real Estate Limited / other / CLOSING OF EQUITY FUND RAISING AND RELATED ARRANGEMENTS

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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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30.01.2009

CLOSING OF EQUITY FUND RAISING AND RELATED ARRANGEMENTS

Jersey, January 30, 2009: Atrium European Real Estate Limited
("Atrium" or the "Company") (ATX: ATR), one of the leading real
estate companies focused on shopping centre investment management and
development in Central and Eastern Europe, announces that it has
closed the new equity fund raising and related arrangements with Citi
Property Investors and its investors ("CPI") and Gazit- Globe Limited
("Gazit" and, together, the "Investors").

This equity fund raising raised EUR 72.1 million of new equity which,
together with the related arrangements, reduces the Company's
aggregate indebtedness by approximately EUR 175 million in principal
amount and reduces the equity overhang of the outstanding warrants to
subscribe for the Company's shares from 30 million to approximately 5
million.

The Company issued 10,300,000 new ordinary shares to the Investors in
aggregate at a price of EUR 7 per share. CPI acquired 4,738,000
shares and Gazit acquired 5,562,000 shares. The subscription price
was paid by the transfer to the Company of convertible bonds in an
aggregate principal amount of EUR 72,100,000. The voting rights
attaching to the Company's special voting shares have been reduced
proportionately to reflect the reduction in the outstanding aggregate
principal amount of convertible bonds held by the Investors to EUR
427,900,000.

In addition, the Investors delivered 25,066,667 existing warrants to
subscribe for ordinary shares (out of a total of 30 million such
warrants issued to the Investors on August 1, 2008) to the Company.
These 25,066,667 warrants have been cancelled for nil consideration.

The Company has also acquired from Gazit approximately EUR 103
million in principal amount of the Company's 2006 listed medium term
notes (ISIN XS0263871328). The notes were acquired by the Company
for a cash amount equal to the aggregate of the prices paid for them
in the open market (including dealing costs) by Gazit (which in
aggregate was EUR 77.26 million) plus accrued interest on the notes
to the date of purchase by the Company.

As a result of the subscription for the new shares and transfer of
the convertible securities, the Investors and their affiliates are in
aggregate interested in securities of the Company carrying 28.46 per
cent. of the Company's outstanding voting rights.

For further information:

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

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