EANS-News: Atrium European Real Estate Limited / COMMENT ON LEGAL PROCEEDINGS

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Company Information

St Helier Jersey / Channel Islands (euro adhoc) - COMMENT ON LEGAL
PROCEEDINGS

Jersey, 30 December 2010: Atrium European Real Estate Limited
("Atrium" or the "Company") (VSE/Euronext: ATRS), one of the leading
real estate companies focused on shopping centre investment,
management and development in Central and Eastern Europe, notes the
announcement issued yesterday by Meinl Bank ("Meinl") regarding a
proposed legal action against the Company filed with The
International Arbitral Centre of the Austrian Federal Economic
Chamber.

Atrium believes that this action is entirely without merit, and that
it is consistent with Meinl's strategy of attempted intimidation by
lawsuit.

The indemnityprovisionsto which this legal action refers are not
relevant or applicable in this case.

Further, it should be noted that Meinl continues to misrepresent
thestatements madeto dateby the Jersey Financial Services Commission
("JFSC"). On 22 December 2010, the JFSC stated thatwhile MEL (now
Atrium)had not breached relevant provisions of the Jersey Companies
Law in the 2007 buy-back of ADCs, the JFSC "is reviewing the
information contained in the Report to consider whether the
authorised principal persons of MEL and MERE who approved and
undertook the buy back of the ADCs acted in a fit and proper manner."

Atrium believes this legal action is yet another desperate response
by Meinl to the E2 billion claim that Atrium brought against Julius
Meinl V, Meinl Bank, Peter Weinzierl and other co-defendants as
announced in August this year. Julius Meinl V himself also remains
under criminal investigation and has been arrested and subsequently
released on E100 million bail for matters pertaining to fraud
relating to Meinl European Land.

Atrium continues to cooperate and work closely with the Austrian
Prosecution Authority, the Austrian Financial Markets Authority and
the JFSC in their ongoing independent investigationsand processes.

For further information: Financial Dynamics:
+44 (0)20 7831 3113 Richard Sunderland Laurence Jones Stephanie
Highett Atrium@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
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