EANS-Adhoc: Atrium European Real Estate Limited / FULL YEAR 2011 RESULTS SHOW CONTINUED STRONG FINANCIAL PERFORMANCE AND SUCCESSFUL DELIVERY AGAINST STRATEGY

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16.03.2012

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

FULL YEAR 2011 RESULTS SHOW CONTINUED STRONG FINANCIAL PERFORMANCE
AND SUCCESSFUL DELIVERY AGAINST STRATEGY

Jersey,16 March 2012. Atrium European Real Estate Limited
(VSE/ Euronext: ATRS), one of the leading real estate companies
focused on shopping centre investment, management and development in
Central and Eastern Europe, announces its results for the year ended
31 December 2011.

Highlights: - Gross rental income ("GRI") increased by 13.7% to
EUR172.2 (2010:EUR151.5m) with an increase in like-for-like GRI of
7.5% to EUR152.5m (2010: EUR141.9m)

- Net rental income ("NRI") increased by 15.1% to EUR154.9m
(2010:EUR134.5m), with an increase in like-for-like NRI of 8.6% to
EUR138.1m (2010: EUR127.2m)

- Operating margin increased to 90.0% (2010: 88.8%)

- Occupancy rates according to the EPRA definition increased to 97.6%
in 2011 from 95.5% in 2010

- EBITDA excluding the valuation result increased by 46.5% or
EUR45.8m to EUR144.2m (2010: EUR98.4m)

- Profit before taxation increased by 34.9% to EUR169.7m (2010:
EUR125.8m)

- Adjusted EPRA earnings per share increased 12% to EUR0.28 (2010:
EUR0.25)

- EPRA Net asset value ("NAV") per ordinary share increased 5.6% to
EUR6.36 (2010: EUR6.02)

- Net cash generated from operating activities amounted to EUR101.4m
(2010:EUR97.4m)

- The income producing portfolio increased to 155 assets (2010: 153)
valued at EUR2.1bn (2010: EUR1.5bn) mainly as a result of the three
major acquisitions of shopping centres in Atrium´s core markets of
Poland and the Czech Republic for EUR417m completed during the year
as well as revaluation gains of EUR129m, offset by the sale of the
Group´s single shopping centre in Turkey

- Cash position of EUR235m

- Borrowings of EUR568m as at 31 December 2011 (31 December 2010:
EUR425m)

- Dividend payments increased by 21.4% from EUR0.14 per share in 2011
to EUR0.17 per share going forward

- Ratings upgrade announced in October, with Standard and Poor´s
upgrading Atrium´s long-term credit rating to `BB+´ and Fitch
affirming its BB+ rating, but revising its outlook to positive

- Named as winners in the categories of "Best shopping Centre in
Poland", for the Targowek centre, and "Best Shopping Centre
Management Company 2011" at the Eurobuild Awards 2011.

Commenting on the results, Rachel Lavine, CEO of Atrium European Real
Estate, said:

"2011 has been a highly successful year for Atrium, and against an
uncertain macro-economic backdrop, I am proud of both the milestones
achieved and of the Group´s performance throughout the year.

"Looking forward, our key objective for 2012 is to continue to
deliver a strong operational performance as measured by positive real
growth in rental income. To supplement organic growth we will
continue to seek opportunities to acquire high quality income
producing assets in tier one cities of our target markets, such as
those we successfully acquired in 2011. In addition, we will maintain
our cautious approach to development, focusing on extensions to
existing assets and developments in core locations with high levels
of pre-leasing.

"We have a strong team in place and a track record of continual
improvement behind us. I am confident that we can continue the solid
progress made to date, that we are well placed to achieve our aims,
and I look forward to 2012 with a cautious degree of optimism."

This announcement is a summary of, and should be read in conjunction
with the full version of the Group´s 2011 results, which can be found
on the Atrium page of the Vienna Börse website at
http://en.wienerborse.at/ and on the Group´s page of the Euronext
Amsterdam website, www.euronext.com or on the Group´s website at
www.aere.com.

Further information can be found on Atrium´s website www.aere.com or
from:

Analysts:

Ljudmila Popova +31 (0)20 718 4564

Press & Shareholders:
FTI Consulting Inc +44 (0)20 7831 3113
Richard Sunderland

Will Henderson
Daniel O´Donnell
atrium@fticonsulting.com

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.

Further inquiry note:
FTI Consulting
Faye Walters
020 7269 7134

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