EANS-Adhoc: Atrium European Real Estate Limited / STRONG 2012 RESULTS REFLECT SUCCESSFUL ASSET MANAGEMENT OF THE PORTFOLIO AND DELIVERY OF STRATEGY

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Annual Reports/quarterly report
13.03.2013

Atrium European Real Estate Limited

("Atrium" or the "Group")

STRONG 2012 RESULTS REFLECT SUCCESSFUL ASSET MANAGEMENT OF THE
PORTFOLIO AND DELIVERY OF STRATEGY

Ad hoc announcement - Jersey, 13 March 2013. Atrium European Real
Estate Limited (VSE/Euronext:ATRS), a leading owner, operator and
developer of retail real estate and shopping centres in Central and
Eastern Europe, announces its results for the year ended 31 December
2012.

Financial Highlights:

* 12.4% growth in gross rental income ("GRI") to EUR193.5m
(2011:EUR172.2m), with a 17.1% rise in net rental income ("NRI") to
EUR181.3m (2011: EUR154.9m)

* EPRA like-for-like GRI increased by 5.2% to EUR161.5m
(2011:EUR153.5m), and EPRA like-for-like NRI grew 7.3% to EUR148.8m
(2011: EUR138.7m)

* 93.7% operating margin (2011:90.0%), the fourth consecutive year of
margin growth

* EPRA occupancy rates increased to a record high of 98.0% (2011:
97.6%)

* 24.7% growth in net cash generated from operating activities to
EUR126.5m (2011:EUR101.4m)

* EBITDA, excluding revaluation and disposals, increased by 29.8% to
EUR146.0m for the year (2011: EUR112.4m)

* 14.3% increase in Company adjusted EPRA earnings per share to
EUR0.32 (2011: EUR0.28)

* As at 31 December 2012 EPRA net asset value per share was EUR6.44
(31 December 2011: EUR6.36) after distributing a dividend of EUR0.17
per share during 2012

* Value of the Group's portfolio of 156 income producing assets was
EUR2.2bn as at 31 December 2012 (31December2011:EUR2.1bn) with over
EUR1.0bn located in Poland

* Balance sheet remains strong with cash of EUR207.8m (2011:
EUR234.9m) and borrowings of EUR537.1m as at 31 December 2012 (31
December 2011: EUR568.0m), resulting in a gross LTV of 19.7% and net
LTV of 12.1%

* Further progress in reducing the Group's more expensive and shorter
term debt achieved through the tender offer for Atrium's bonds
maturing in 2013 and early repayment of four bank loans

* On 12 November 2012 Atrium's Board approved a 17.6% increase in the
Group's annual dividend for 2013 to at least EUR0.20 per share (2012:
EUR0.17), reflecting the Group's continued robust financial
performance and the Board's confidence in its future prospects. The
first payment of EUR0.05 will be paid as a capital repayment on 28
March 2013, to shareholders on the register at 22 March with an ex
date of 20 March 2013.

Group and Operational Highlights:

* Achieved the Group's stated strategic priority of securing an
investment grade credit rating. Atrium is now rated at BBB- by both
Standard & Poor's and Fitch

* Strong progress was accomplished at Atrium Felicity in Lublin, the
Group's first major greenfield development due to open in early 2014,
with lease agreements in place for 84% of the project and
construction well underway

* Completed the acquisition from Russian Cinema Holdings of its
holdings in the Group's Volgograd, Togliatti and Yekaterinburg
Russian shopping centres for a total consideration of EUR9.3m, adding
a further 15,400 sqm of GLA to the portfolio

* Completed the rebranding of all Polish shopping centres under the
Atrium brand, providing both increased awareness of the Group and a
highly visible mark of quality for customers and retailers

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

"2012 was another successful year for Atrium, in which we achieved
robust growth across all of our key metrics, as well as delivering
against our corporate objectives. The construction of our first major
greenfield development at Lublin is well underway, and our strategy
of focusing on new investment in the strongest and most stable
economies in the region, namely Poland, the Czech Republic and
Slovakia, has returned excellent results.

"One of the most pleasing achievements during the year was Atrium's
upgrade to investment grade by S&P and Fitch, with both recognising
the progress that we have made in strengthening the company's
financial position and improving its performance by focusing on the
strongest markets in our region. Atrium's operational and financial
base is now very well secured and will allow us to continue to
deliver sounds results. We are well placed to achieve our aims and I
therefore look forward to the future with a cautious degree of
confidence and optimism."

This announcement is a summary of, and should be read in conjunction
with the full version of the Group's 2012 Full Year 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 NYSE
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 lpopova@aere.com

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 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@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English