EANS-News: Atrium European Real Estate Limited / ATRIUM FURTHER REBALANCES PORTFOLIO THROUGH THE SALE OF A PORTFOLIO OF 72 SMALLER RETAIL ASSETS IN THE CZECH REPUBLIC FOR EUR70 MILLION

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Company Information/Disposal

ATRIUM FURTHER REBALANCES PORTFOLIO THROUGH THE SALE OF A PORTFOLIO
OF 72 SMALLER RETAIL ASSETS IN THE CZECH REPUBLIC FOR EUR70
MILLION

Ad hoc announcement - Jersey, 9 December 2014: Atrium European Real
Estate Limited ("Atrium" or the "Company") (VSE/Euronext: ATRS), a
leading owner, operator and developer of shopping centres and retail
real estate in Central and Eastern Europe, announces that it has
agreed to sell a portfolio of 72 retail assets (the "Portfolio") in
the Czech Republic to a private client account managed by Peakside
Capital Advisors (the "Purchaser") for a consideration of c.EUR70
million. The consideration comprises a cash payment of c. EUR61
million with the balance satisfied through a secured vendor loan to
the Purchaser. The transaction is subject to certain conditions
precedent and is expected to close in Q1 2015.

The Portfolio consists of 72 retail assets spread throughout the
Czech Republic with a total lettable area of c.177,000 sqm and
primarily comprises smaller format retail properties with an average
size of c.2,500 sqm.

The divestment of these assets forms part of the Company's on-going
rebalancing of its portfolio towards larger scale, well established
shopping centres in Atrium's core markets which dominate their
catchment areas and follows Atrium's recent acquisitions of two prime
shopping centres - AFI Palác in Pardubice, the Czech Republic and
Focus Mall in Bydgoszcz, Poland - comprising c.62,000 sqm of retail
space for around EUR205 million. Following the sale and two recent
acquisitions, the Company's Czech portfolio will comprise 22
properties, accounting for 15.9% of Atrium's total portfolio by
value, compared to 93 properties or 16.4% of the portfolio as at 30
September 2014.

As a result of the transaction, EUR11 million of currency
translations historically accrued in equity due to fluctuations in
the Czech Koruna, will be recorded in the retained earnings through
the Company's income statement in the next financial results
following completion, but with no impact on equity. The purchase
price reflects a discount of around 4% to the 30 September 2014 book
valuation.

Commenting on the divestment, Josip Kardun, Atrium Group CEO,
said:"This disposal marks another significant step forward in our
ambition for Atrium to become the dominant shopping centre owner,
operator and developer in our core markets within the CEE. Combined
with our recently announced acquisition of the AFI Palác shopping
centre in Pardubice, it means that we have significantly reweighted
our income stream in the Czech Republic away from a significant
number of smaller assets and, taking into account the recent
acquisition of the Focus Mall in Bydgoszcz, Poland, provides our
overall portfolio with a far greater focus on larger scale shopping
centres and higher quality cash flow."

For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
Nick Taylor
atrium@fticonsulting.com

About Atrium European Real Estate Atrium is a leading real estate
company focused on shopping centre investment, management and
development in Central and Eastern Europe. As at 30September 2014the
Group owned 151 shopping centres and retail properties, with a market
value of EUR2.5billion, diversified across seven countries with a
total gross lettable area of 1.3 million sqm. In 2013, Atrium
produced a gross rental income of EUR203.5 million.

The Company is based in Jersey and dual listed on the Vienna and
Euronext Amsterdam Stock Exchanges under the ticker ATRS.

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 incorporated and domiciled in Jersey and regulated by the
Jersey Financial Services Authority as a certified Jersey listed
fund, and is listed on both the Vienna Stock Exchange and the NYSE
Euronext Amsterdam Stock Exchange. Appropriate professional advice
should be sought in the case of any uncertainty as to the scope of
the regulatory requirements that apply by reason of the above
regulation and listings. 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:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Nick Taylor
Richard.sunderland@fticonsulting.com

end of announcement euro adhoc
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company: 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