EANS-Adhoc: Atrium European Real Estate Limited

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Result of Tender Offer

21.11.2011

Atrium European Real Estate Limited announces results of its Tender
Offer for the EUR35,000,000 6.8 per cent. Bonds due 21
December 2011 of Manhattan Development
s.r.o.

Jersey, 21 November, 2011: Atrium European Real Estate Limited (the
Company), announces today the final results of its invitation to
holders of the outstanding EUR35,000,000 6.8 per cent. Bonds due 21
December 2011 (ISIN: AT0000330964) (the Notes) of Manhattan
Development s.r.o. (the Issuer) (an indirect wholly-owned subsidiary
of the Company) to tender their Notes for purchase by the Company for
cash (the Offer).

As at the Final Expiration Deadline of 5.00 p.m. (Vienna time) on 18
November 2011, a total of EUR11,133,000 in aggregate nominal amount
of the Notes has been validly tendered for purchase pursuant to the
Offer since commencement of the Offer on 13 April 2011. The Company
has accepted for purchase all such Notes. Settlement of the purchase
for such Notes which have not previously been settled will take place
on the Final Settlement Date which occurs on 22 November 2011.

Pursuant to the terms and conditions of the Notes, the Company will
redeem all outstanding Notes not tendered and purchased pursuant to
the Offer on the final maturity date, which occurs on 21 December
2011.

The Offer was made on the terms and subject to the conditions
contained in the tender offer memorandum dated 13 April 2011 (the
Tender Offer Memorandum) as amended by the terms of the Company's
announcements dated 16 May 2011, 7 June 2011 and 8 August 2011 (the
Announcements). This announcement should be read in conjunction with
the Tender Offer Memorandum and the Announcements. Capitalised terms
used but not otherwise defined in this announcement shall have the
meanings given to them in the Tender Offer Memorandum and the
Announcements.

The Offer was not made to any person located or resident in Italy,
and was also subject to restrictions in other jurisdictions, all as
further described in the Tender Offer Memorandum.

Deutsche Bank AG, London Branch is acting as Dealer Manager (tel: +44
20 7545 801; email: liability.management@db.com) and Tender Agent
(tel: +44 20 7547 5000; email: xchange.offer@db.com) for the Offer.

DISCLAIMER

This announcement must be read in conjunction with the Tender Offer
Memorandum and Announcements. No offer or invitation to acquire any
securities is being made pursuant to this announcement. The
distribution of this announcement and the Tender Offer Memorandum in
certain jurisdictions may be restricted by law. Persons into whose
possession this announcement and/or the Tender Offer Memorandum comes
are required by each of the Company, the Dealer Manager and the
Tender Agent to inform themselves about, and to observe, any such
restrictions.

Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 7831 3113
Richard Sunderland
Will Henderson
Richard.sunderland@fticonsulting.com

end of announcement euro adhoc
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issuer: Atrium European Real Estate Limited
Seaton Place 11-15
UK-JE4 0QH St Helier Jersey / Channel Islands
phone: +44 (0)20 7831 3113
mail: Richard.sunderland@fd.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English