EANS-Adhoc: Atrium European Real Estate Limited / ATRIUM COMPLETES EUR55 MILLION ACQUISITION OF MOLO SHOPPING CENTRE IN POLAND´S SEVENTH LARGEST CITY

--------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------

12.12.2011

ATRIUM COMPLETES E55 MILLION ACQUISITION OF MOLO SHOPPING CENTRE IN
POLAND'S SEVENTH LARGEST CITY

Jersey, 12 December 2011. 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, announces
the E55million acquisition of the Molo shopping centre in, Szczecin,
Poland's seventh largest city, from PFCE Soparfi A, a real estate
fund managed by CBRE Global Investors. The acquisition is in line
with the Company's aim of acquiring prime income producing shopping
centres in the major cities of its key target markets of Poland,
Czech Republic and Slovakia, which have the strongest economies in
the CEE region, and further increasing Atrium's exposure to A- rated
or above countries. The transaction has been financed through a
mixture of equity and debt and follows Atrium's E191million purchase
of the Palác Flóra shopping centre in Prague, Czech Republic, in
September, as well as the recent upgrading of the Company's credit
rating to BB+ by Standard & Poor's.

Situated in a prime location, Molo is one of the leading shopping centres in
Szczecin, Poland's seventh largest city, which has a population of over 400,000
and is one of the country's largest seaports. The centre is 100% let and,
following a cE10 million refurbishment and extension which was completed in
November 2010, now offers 28,161 sqm of gross lettable area ("GLA") of which
26,235sqm is retail. Molo is anchored by Carrefour and Media Markt, along with
a number of Polish and international brands including H&M, TK Maxx, Cubus,
Reserved, Deichmann, Douglas, New Yorker, Cropp Town and Home & You, among
others.

Molo also offers 504 sqm of offices housed within the main building, which are
100% let, 218 sqm of storage for the centre's retailers and a 1,200 sqm
Carrefour petrol station. It also benefits from over 860 on-site parking places
and, as one of the first shopping centres built in Szczecin (in 2000), has a
well established loyal customer base.

Molo is located just 13 km from the main Polish-German border crossing on the A6
motorway and is located in a highly visible position on one of the main roads of
Szczecin city, where it provides good access for customers arriving by car. In
addition, it has excellent transport connections including three bus links and
three tram lines.

Commenting on the acquisition, Rachel Lavine, CEO of Atrium said:
"The acquisition of Molo provides clear evidence of the positive
momentum we are achieving in putting our strong balance sheet to work
and growing our business through the purchase of prime assets in tier
one cities in our target markets. While Molo has recently been
upgraded through an extensive refurbishment, we now look forward to
bringing it into Atrium's portfolio where it will benefit from our
asset management expertise and the operational efficiencies and
economies of scale that we are able to apply to it.

For further information:

FTI Consulting Inc:

+44 (0)20 7831 3113

Richard Sunderland

Will Henderson

richard.sunderland@fticonsulting.com

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 2011 the Group owned 154 shopping centres, with a
market value of E2.00 billion, diversified across seven countries
with a total gross lettable area of 1.17 million sqm. At the same
time the Company had a cash position of E290 million against
borrowings of E562 million.

Gross rental income from investment properties for the year ended 31
December 2010 was E151.5million and was E126.3 million for the nine
months to 30 September 2011, while net rental income for the same
periods was E134.4 million and E115.1 million (up 14.8% over 9M2010)
respectively. The operating margin at 30 September 2011 was 91.1%
compared to the full year 2010 figure of 88.8% and around 81% in 2009
and 71% in 2008, when the current management began running the
company.

Geographically, the Group's focus is principally concentrated in
Poland, the Czech Republic and Russia with a presence in Hungary,
Romania, Latvia and Slovakia. In addition, the Company has a
development portfolio with a market value of E592 million as at 30
September 2011. The Company is based in Jersey and dual listed on the
Vienna and Euronext Amsterdam Stock Exchanges under the ticker ATRS.

Atrium in Poland

Prior to the acquisition of Molo, Atrium owned 19 operational
shopping malls in Poland with a market value of approx E926 million
as at 30 September 2011. In total, these provide approximately
346,745 sqm of gross rental space, which, in the first nine months of
2011, generated E45.5 million of net rental income. Atrium's
portfolio of Polish shopping centres includes Reduta and Targówek in
Warsaw, Galeria Bia?a in Bia?ystok, as well as Copernius in Koszalin.
In May 2011, Atrium expanded its activities in the capital of Poland
by concluding the E171 million purchase Promenada, one of Warsaw's
top shopping centres.

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.

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

end of announcement euro adhoc
--------------------------------------------------------------------------------

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