EANS-Adhoc: Atrium European Real Estate Limited / REPAYMENT OF 2008 10.75% CONVERTIBLE BONDS

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24.01.2011

REPAYMENT OF 2008 10.75% CONVERTIBLE BONDS

Jersey, 24 January 2011; Atrium European Real Estate Limited
("Atrium" or the "Company") (VSE/Euronext: ATRS), announces that it
will be paying off the entire outstanding E20million of the 2008
Bonds at par together with accrued interest. Atrium believes that
paying off of the 2008 Bonds is accretive and in the best interest of
its shareholders.

Atrium has decided to pay off the 2008 Bonds notwithstanding that the
purported notice of acceleration received from Centrum Bank of Vaduz,
Liechtenstein was invalid. As previously disclosed, Atrium filed a
claim last week in the English High Court with respect to the invalid
notice.

Meinl Bank's actions in attempting to convene meetings of bondholders
and propose an acceleration of these bonds represents an abuse of its
position as trustee of Atrium's other, listed bonds (namely
AT0000496633, AT0000496641; AT0000492996, AT0000341789 and
AT0000341797) the ("Listed Bonds") for its own benefit (as the owner
of the 2008 Bonds), but unfortunately follows a similar pattern. In
August 2010, Atrium was compelled to remove Meinl Bank as paying
agent on the Listed Bonds as Meinl Bank had refused to confirm it
would pay out interest to the bondholders from funds transferred by
the Company for the purpose - a refusal which is entirely contrary to
Meinl Bank's recent hollow claims to be acting in the bondholders
interests. In this latest instance, Meinl Bank failed to enquire of
the Company with respect to the purported event of default to which
it refers but claims to have acted in reliance on information it says
it received, from a source it has not identified.

Meinl Bank's misuse of its power as trustee is an ill founded and
malicious attempt to invent a bargaining chip to escape
responsibility for the E2 billion law suit which Atrium filed against
it and others. Meinl Bank's attempt is consistent with the frivolous
litigation Meinl Bank has filed and the multiple press releases it
has issued to create a smoke screen to confuse the real issues.

Atrium remains entirely confident of success in its main E2 billion
lawsuit for damages and compensation that it filed against Julius
Meinl and other defendants in August 2010 and which it will continue
to pursue with absolute conviction. In addition, the Company will
continue to cooperate with and assist the Austrian State Prosecutor
wherever possible in its investigations into Julius Meinl and others
regarding their involvement in the Company, then Meinl European Land,
for which Julius Meinl was arrested in April 2009 and remains on the
world-record E100 million bail.

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