EANS-Adhoc: Atrium European Real Estate Limited / Intention to hold EGM

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announcement.
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17.09.2009

Atrium European Real Estate Limited
(the "Company")

Intention to hold EGM

Jersey, 17 September 2009. Atrium European Real Estate Limited
(Euronext/ATX: ATRS), a leading real estate company focused on
shopping centre investment, management and development in Central
and Eastern Europe, announces today that, further to its
announcement of 3 September 2009, it will hold an extraordinary
general meeting ("EGM") on 2 October 2009 at 12 noon (Jersey/UK time)
at Hotel de France, St. Saviour's Road, St. Helier, Jersey JE1 7XP.

The Company will today publish a circular ("Circular")
providing further details of the proposed resolutions and the EGM,
as well as other supporting documentation including proxy forms,
all of which will be available on the Company's website
(www.aere.com).

At the EGM, the Company will seek approval from its
shareholders on four proposed resolutions which relate to the
package of proposals announced by the Company on 3 September 2009
regarding a debt repurchase, equity issuance, corporate
governance measures and new dividend policy. The Company
believes that the package of proposals will bring significant
benefits to the Company and its shareholders and will put it in a
strong position from which to grow and take advantage of current
market opportunities. Further details of the expected benefits
of the proposals can be found in the Circular and in the
Company's announcement of 3 September 2009. The Board and its
independent committee recommend that shareholders vote in favour of
the resolutions.

The four resolutions for which the Company is seeking shareholder
approval are as follows: (i) to amend its articles of
association, including to extend certain shareholder rights, to
terminate the existing rights of CPI CEE Management LLC and Gazit
Midas Limited (together with their respective affiliates, the
"Investors") to appoint certain directors and to replace them with
new rights dependent on their holding of ordinary shares; (ii) to
make the Company a no par value company which is not limited as to
the number of shares it may be authorised to issue and to facilitate
the payment of dividends by the Company; (iii) to approve the
reduction of the Company's stated capital by the amount of the
proposed payment of a special dividend of EUR0.50 and by the amount
of the proposed payment of an annual dividend of EUR0.12; and (iv)
to authorise the Company to make market purchases up to 50
million ordinary shares and therefore replace the existing authority
to acquire up to 50 million of the Austrian depositary
certificates representing the Company's ordinary shares, now that
the ordinary shares are listed on both the Vienna Stock Exchange
and Euronext Amsterdam.

Expected timetable of events

The expected timetable of events as set out in the circular is as
follows:

Last time for account holding banks or brokers to return (via
an admitted institution) to Kempen & Co N.V. proxy forms of persons
holding ordinary shares of their intention to attend and/or vote at
the EGM: 4.30 p.m. (Amsterdam time/ C.E.T.) on 28 September
2009

Last time for submission by holders of Special Voting Shares of proxy
forms to the Company:

12 noon (Jersey time) on 30 September 2009

EGM:
12 noon (Jersey time) on 2 October 2009

Closing of the Exchange Transaction (subject to the obtaining of
the relevant shareholder approvals and anti-trust clearances)
("Closing"): During the fourth quarter of 2009

Record date for the special dividend of EUR0.50 per ordinary share:
The first business day following Closing

Payment date for the special dividend: Within 30 business days
of Closing (conditional, among other things, on Closing)

Commencement of payment of instalments of the annual dividend of
EUR0.12 per ordinary share: During the fourth quarter of 2009
(conditional, among other things, on Closing)

Launch of the proposed partial tender offer for the notes issued
under the Company's 2006 Medium Term Note Programme: Following
Closing

The above dates are subject to change.

-Ends-

For further information:
Financial Dynamics: +44 (0)20 7831 3113
Richard Sunderland

Laurence Jones
Stephanie Highett

Atrium is established as a closed-end investment company domiciled
in Jersey. Atrium is registered with the Dutch Authority for the
Financial Markets as a collective investment scheme which may
offer participations in The Netherlands pursuant to article 2:66
of the Financial Supervision Act (Wet op het financieel
toezicht). All investments are subject to risk. Past performance is
no guarantee of future returns. The value of investments may
fluctuate. Results achieved in the past are no guarantee of future
results. About Atrium European Real Estate Limited

Atrium is a leading real estate company focused on shopping centre
investment, management and development in Central and Eastern Europe.
As at 30 June 2009 the Group owned 152 standing investments, with
a market value of EUR1.49 billion, diversified across eight countries
with a total gross lettable area of 1.1 million sqm.
Geographically, the Group's focus is principally concentrated in
Poland, the Czech Republic and Russia with a presence in Hungary,
Romania, Slovakia, Latvia and Turkey. In addition, the Company
has a development portfolio including several development projects
with a market value of EUR712 million as at 30 June 2009.

Gross rental income from investment properties for the year ended
31 December 2008 was EUR134 million and EUR75 million for the first
half of 2009. Net rental income for the year to 31 December 2008
amounted to EUR95 million and EUR59 million for the six months to 30
June 2009. As at 30 June 2009, the Company had a cash position of
EUR855 million against borrowings of EUR1.08 billion.

Following a strategic investment of EUR500 million by a Citi
Property Investors and Gazit Globe Ltd joint venture, agreed in
August 2008, Rachel Lavine was appointed Chief Executive Officer
of Atrium. Rachel Lavine has significant experience of both real
estate and the CEE region and was previously President and CEO of
Plaza Centres. The Board is chaired by Chaim Katzman, founder of
Gazit Globe, which has extensive global experience of real estate
management and is one of the largest owners of shopping centres in
the world.

The Company is based in Jersey and dual listed on the Vienna
and Euronext Amsterdam Stock Exchanges under the ticker ATRS.

Ende der Mitteilung 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

Richard Sunderland / Laurence Jones

Phone: +44 (0)20 7831 3113

mailto:richard.sunderland@fd.com

Branche: Real Estate
ISIN: JE00B3DCF752
WKN:
Index: Standard Market Continous
Börsen: Wien / official market