Atrium European Real Estate Limited

euro adhoc: Atrium European Real Estate Limited

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc. The issuer is responsible   for the content of this announcement. --------------------------------------------------------------------------------@@end@@


For Immediate Release

- Phase II opens in time for Christmas trading with 96% of units let -

Jersey, 1 December, 2008: Atrium European Real Estate Limited   ("Atrium")  (ATX: ATR), one of the leading  real  estate  companies   focused  on  shopping  centre investment, management and development in Central and Eastern Europe,  announces today that it has completed the development of the  Optima  shopping  centre  in Kosice, Slovakia. This follows  the  opening  of  Phase  II  of  the  scheme on Saturday 29 November 2008 and  brings  online  a  further  16,000 m2  of  gross lettable area (GLA).

Phase I of Optima originally opened in 2002 and, following the opening of  phase II, is 96% let. The two storey shopping  centre  is anchored  by  Hypernova,  a major food retailer in Slovakia and the   Czech  Republic  owned  by  the  global supermarket operator Ahold, and also offers a seven screen Cinemax cinema and  a variety of restaurants ranging from McDonalds through to  local  operators  such as Viccolo and Bright.    There  are  145  units  within  the  centre which  has attracted a range of national  and  international  brands including  Deichmann, Intersport, Peacocks, Marks & Spencer, H&M, C&A,  Reserved,  Guess,  Esprit  and Nike.

Optima is the largest shopping centre of  its  kind  in  Slovakia,   outside  the capital of Bratislava.  It has been designed to make it a  destination  location for the local population and aims to attract visitors  from  a  wide  catchment area, where Atrium has identified a gap in  the  market  for  such  a  facility. There are over 250,000 inhabitants in Kosice making it the second  largest  city in Slovakia.  The location close to the main junction of the  E51   motorway  and the city ring road I50, opens the centre up to a further 290,000  consumers  who are within a 30 minute drive.  The facility also offers car parking  for  up  to 1600 cars.

Rachel Lavine, the  new  CEO  of  Atrium,  commented:    "Optima  is   a  landmark development in a prime location and will become  both   the  major  shopping  and entertainment complex for Kosice  and   attract  visitors  from  the  surrounding regions.  Dominating a large commercial and retail zone, it has  attracted  many major international brands to  the  area  and  with  the  opening  so   close  to Christmas, our tenants will be able to  take  full   advantage  of  the  seasonal boost in sales.  Located 1km from the city centre, Optima  benefits  from  being part of a big commercial zone, which  also  includes  a  Kika  furniture  store. This, coupled with our major anchors such as Hypernova and Marks & Spencer  will strengthen Optimas retail offering to tenants and consumers alike.

"Furthermore, this is  a  great  example  of  the  management  team's skill  in undertaking high quality extension projects which offer great returns  at  lower risks and help maximize the value of our investment portfolio."

For further information:

@@start.t2@@Financial Dynamics:                                                              +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones

@@start.t3@@end of announcement                                                 euro adhoc

ots Originaltext: Atrium European Real Estate Limited
Im Internet recherchierbar:

Further inquiry note:
Financial Dynamics, London
Stephanie Highett / Richard Sunderland
Phone: +44 (0)20 7831 3113

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Continous
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Atrium European Real Estate Limited

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