EANS-Adhoc: Atrium European Real Estate Limited

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Completion of Exchange Transaction

01.12.2009

Atrium European Real Estate Limited

Completion of Exchange Transaction

Payment of Special Dividend and implementation of dividend policy

Jersey, 1 December, 2009: Atrium European Real Estate Limited
("Atrium" or the "Company") (ATX/Euronext: ATRS), a leading real
estate company focused on shopping centre investment, management and
development in Central and Eastern Europe, announces that further to
its announcements of 3 September, 2 October and 24 November 2009, the
Exchange Transaction with Citi Property Investors ("CPI") and
GazitGlobeLimited ("Gazit" and, together with CPI, the "Investors")
has completed.

The Exchange Transaction The Company has now exchanged, and
subsequently cancelled, the outstanding E427.9 million in principal
amount of the 2008 Convertible Bonds, 4,933,333 Warrants and the
outstanding 8,043 Special Voting Shares held by the Investors for an
aggregate consideration of 144,853,705 new ordinary shares of the
Company ("New Ordinary Shares") and approximately E9.3million in
cash. The Company now has 372,052,993 ordinary shares in issue and
there are no Special Voting Shares in issue.

The New Ordinary Shares will rank pari passu with the Company's
existing ordinary shares and application will be made for them to be
listed on the Vienna Stock Exchange and NYSE Euronext Amsterdam. It
is expected that the New Ordinary Shares will be listed on both
exchanges on 11December 2009. Dividend Timetable As a result of the
completion of the Exchange Transaction, the Company announces that
the timetable for the payment of the E0.50 Special Dividend and the
E0.03 dividend relating to the fourth quarter of 2009, in accordance
with the Company's proposed annual dividend policy of E0.12, payable
quarterly, will be as follows:

Ex-dividend date: 9 December 2009

Record date: 11 December 2009
Payment date - E0.50 Special Dividend: 17 December 2009
Payment date - E0.03 2009 dividend: 30 December 2009

Partial tender offer for the 2006 Notes A further announcement
detailing the logistics and timings of the intended Partial Tender
Offer will be made in due course, but it is expected that this
process will commence in the first half of January 2010.

For further information:

Financial Dynamics: +44 (0)20 7831 3113
Richard Sunderland / Laurence Jones

{Richard.sunderland@fd.com}[HYPERLINK:
mailto:Richard.sunderland@fd.com]

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 September 2009 the Group owned
152 standing investments, with a market value of E1.46 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 E706 million as at 30 September 2009.

Gross rental income from investment properties for the year ended 31
December 2008 was E134 million and E117million for the first nine
months of 2009. Net rental income for the year to 31 December 2008
amounted to E95million and E89 million for the nine months to 30
September 2009. As at 30 September 2009, the Company had a cash
position of E814 million against borrowings of E1.07 billion.

Following a strategic investment of E500 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 Ltd.
(TASE:GLOB), which has extensive global experience of all aspects of
the real estate industry and is one of the largest, developers,
owners and operators 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.

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:

For further information:

Financial Dynamics:

+44 (0)20 7831 3113

Richard Sunderland

Laurence Jones

atrium@fd.com

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