EANS-Adhoc: Atrium European Real Estate Limited / Termination of Agreements with Multi Investment

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17.12.2010

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

Termination of Agreements with Multi Investment

Jersey, 17 December 2010. Atrium European Real Estate (VSE /
Euronext: ATRS), one of the leading real estate companies focused on
shopping centre investment, management and development in
Central and Eastern Europe, announces the conditional purchase
of 49.9% of the shares in the Forum Koszalin shopping centre
("Koszalin") in Poland currently owned Multi Investment BV ("Multi")
and the sale of the Forum Trabzon shopping centre ("Trabzon") in
Turkey to Multi. These transactions form part of a Framework
Settlement Agreement ("The Agreement") with Multi which involves
five projects in Turkey, Poland and Bulgaria. The transaction
is an important step towards achieving Atrium's objective of
ensuring all of its development contracts are managed in-house.

The Agreement Atrium and Multi have agreed to terminate their
relationship on all outstanding developments. The agreement
covers five projects in total but focuses primarily around
Trabzon in Turkey and Koszalin in Poland, both of which opened in
2008 and have been operating successfully since that time. The
other three projects are located in Istanbul and Balcova, in
Turkey, and Sofia, in Bulgaria, all of which were put on hold at
the end of 2008 subject to review due to the financial crisis.

The Agreement is subject to anti-trust approval which is expected in
the first half of 2011. In summary the Agreement comprises the
following:

The sale of Forum Trabzon to Multi Atrium will sell 100% of its
shares in the company that owns Trabzon shopping centre to Multi
at a price which values the business at EUR115.7 million.
Trabzon opened in May 2008 and produced a net rental income
("NRI") of EUR5.7 million for the first nine months of 2010.
Atrium focuses its resources on countries where it has a multitude
of shopping centres and can achieve greater synergies and economies
of scale.

Acquisition of Multi´s remaining shares in Koszalin Atrium will
acquire the remaining 49.9% of the shares in the company that owns
Koszalin from Multi for a consideration of EUR7.4 million and will
become the 100% owner of the shopping centre. Koszalin opened
November 2008 and has a gross lettable area of around 54,000 sqm.
It is anchored by a 10,000 sq m Tesco and produced EUR6.7
million of NRI for the first nine months of 2010. The transaction
allows Atrium to further strengthen its position in Poland, where
it has an existing portfolio of 18 income producing assets.

Acquisition of Multi´s remaining shares in three further development
projects Atrium will own 100% of all the other development projects
it has with Multi following the acquisition of Multi´s: - 20%
stake in the company that owns the Forum Sofia project in
Sofia, Bulgaria; - 20% stake in the company that owns the
Balcova Gayrimenkul project in Turkey; and - The Transfer of a
4% stake in the company that owns the Forum TEM project in
Istanbul, Turkey.

Commenting on the transaction, Rachel Lavine, CEO of Atrium
European Real Estate, said: "The Agreement we have announced
today is an important achievement for Atrium and marks a
significant step in the process of bringing all of our
outstanding development contracts in house. The transaction
provides Atrium with increased flexibility and strengthens our
platform for future growth."

More information about Atrium European Real Estate Ltd can be
found on the Atrium page of the Vienna Börse website at
http://en.wienerborse.at/ and on the Company´s page of the Euronext
Amsterdam website, www.euronext.com or on the Company´s website
at www.aere.com.

For further information:

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

This press release appears as a matter of record only and does not
constitute an offer to sell or a solicitation of an offer to purchase
any security.

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. The Dutch and Austrian paying agent of Atrium is Kempen &
Co. N.V., Beethovenstraat 300, 1077 WZ Amsterdam, the
Netherlands.

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

Richard Sunderland / Laurence Jones

Phone: +44 (0)20 7831 3113

mailto:richard.sunderland@fd.com

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