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Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited
COMMENT ON LEGAL PROCEEDINGS

St Helier Jersey / Channel Islands (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Company Information
COMMENT ON LEGAL
PROCEEDINGS
Jersey, 30 December 2010: 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, notes the 
announcement issued yesterday by Meinl Bank ("Meinl") regarding a 
proposed legal action against the Company filed with The 
International Arbitral Centre of the Austrian Federal Economic 
Chamber.
Atrium believes that this action is entirely without merit, and that 
it is consistent with Meinl's strategy of attempted intimidation by 
lawsuit.
The indemnityprovisionsto which this legal action refers are not 
relevant or applicable in this case.
Further, it should be noted that Meinl continues to misrepresent 
thestatements madeto dateby the Jersey Financial Services Commission 
("JFSC"). On 22 December 2010, the JFSC stated thatwhile MEL (now 
Atrium)had not breached relevant provisions of the Jersey Companies 
Law in the 2007 buy-back of ADCs, the JFSC "is reviewing the 
information contained in the Report to consider whether the 
authorised principal persons of MEL and MERE who approved and 
undertook the buy back of the ADCs acted in a fit and proper manner."
Atrium believes this legal action is yet another desperate response 
by Meinl to the E2 billion claim that Atrium brought against Julius 
Meinl V, Meinl Bank, Peter Weinzierl and other co-defendants as 
announced in August this year. Julius Meinl V himself also remains 
under criminal investigation and has been arrested and subsequently 
released on E100 million bail for matters pertaining to fraud 
relating to Meinl European Land.
Atrium continues to cooperate and work closely with the Austrian 
Prosecution Authority, the Austrian Financial Markets Authority and 
the JFSC in their ongoing independent investigationsand processes.
For further information: Financial Dynamics:                         
+44 (0)20 7831 3113 Richard Sunderland Laurence Jones Stephanie 
Highett  Atrium@fd.com
end of announcement                               euro adhoc

Further inquiry note:

Financial Dynamics, London
Richard Sunderland / Laurence Jones
Phone: +44 (0)20 7831 3113
mailto:richard.sunderland@fd.com

Branche: Real Estate
ISIN: JE00B3DCF752
WKN:
Index: Standard Market Continuous
Börsen: Wien / official market

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