EANS-Adhoc: Atrium European Real Estate Limited / OFFER TO RESOLVE LEGAL DISPUTES

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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other
19.01.2016

OFFER TO RESOLVE LEGAL DISPUTES

Jersey, 19 January 2016. Atrium European Real Estate Limited (the
"Company") (VSE/Euronext: ATRS), a leading owner, operator and
developer of shopping centres and retail real estate in Central and
Eastern Europe and the ultimate parent of the Atrium Group, announces
the resolution of the Dutch litigation brought by "Stichting Atrium
Claim" and the establishment of an arrangement to create a
compensation fund through which to resolve disputes currently being
litigated in Austria in the civil courts as well as submissions by
individuals to join pending criminal proceedings. The arrangement
involves Meinl Bank AG and attorneys from the Stichting (including
one who represents certain current Austrian plaintiffs). Stichting
asserts that it represents the interests of present and former
investors in the Company who purchased certificates between 2002 and
2007, when the Company was known as Meinl European Land Limited,
predating all current officers and directors.

The arrangement offers the opportunity for qualifying investors to
recover from a compensation fund. Although the Company continues to
believe that there is no basis for any claims to be made against it
in the Austrian civil proceedings, those proceedings generally assert
damages on behalf of investors tied to purported misstatements and
omissions in public statements of Meinl European Land. The Company
has joined as a participant in the arrangement as a means to put
legacy issues behind it, providing an opportunity for all those
litigating and who have made submissions to join the criminal
proceeding to achieve a comprehensive resolution, and in so doing
address a source of significant demands on management time and
associated legal fees and costs, which are detrimental to its
shareholders.

Under the arrangement announced today, qualifying investors may
obtain compensation in accordance with a standard methodology
explained in full on the Stichting's
website—www.atriumclaim.com—which takes into account factors such as
dividends received, current holdings, timing of investment and total
amounts invested. The Company encourages all eligible investors to
review carefully the information made available through this website,
to seek advice from a suitably qualified adviser and then make their
own decisions about whether to join the arrangement. Those who
choose to obtain compensation through the arrangement announced today
will receive a payment calculated using the methodology set forth in
the arrangement. To participate, eligible investors will need to
complete an on-line form and release, and submit certain information
related to their claims.

While it is not clear at this time how many investors will make an
offer to participate in the arrangement, the Company believes it is
important to support reasonable efforts to help bring final
resolution to these longstanding issues. Although the Company's
maximum exposure under the arrangement (including costs) is
approximately EUR 32 million, the actual amount will be determined
over time and will depend on the number of investors who participate.

The Company is hopeful that eligible investors will participate in
this process. For those who choose to push forward with litigation
against the Company tied to these legacy issues, the Company
emphasizes its belief that there is no basis for the claims against
it and that it will continue to defend itself vigorously in all
proceedings.

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

Further inquiry note:
For further information:
FTI Consulting Inc.:
+44 (0)20 3727 1000
Richard Sunderland
Claire Turvey
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, stock market: Luxembourg Stock Exchange
language: English