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Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited

St Helier Jersey / Channel Islands (euro adhoc) -

ATRIUM OPENS EXTENSION AT VOLGOGRAD PARK HOUSE, RUSSIA
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
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Subtitle: ATRIUM OPENS EXTENSION AT VOLGOGRAD PARK HOUSE, RUSSIA
ATRIUM OPENS
EXTENSION AT VOLGOGRAD PARK HOUSE, RUSSIA
-Stand alone retail box let to OBI-
Jersey, 29 October, 2009: Atrium European Real Estate Limited 
("Atrium"  or  the "Company") (ATX/Euronext: ATRS),  one  of  the  
leading  real  estate  companies focused on shopping centre 
investment, management  and  development  in  Central and Eastern 
Europe, announces the opening of an extension to its Volgograd  Park 
House shopping centre in Russia.
The extension comprises an 11,800 sqm, stand-alone retail box with 
314 car park spaces, which is fully let to OBI, the leading German 
DIY Company, under a 15 year lease agreement with options for three 
additional periods of five years.
The opening of the OBI extension enhances the offering  of  what  is 
already  a strong and well performing asset which  suits  the  
requirements  of  its  local south Russian catchment area.  Anchored 
by  Karusel,  SportMaster,  Tekhnosila, Bouling Planet, Academy and 
Starik Khotabbych, Volgograd  Park  House  also  has over 230 other 
tenants across its 55 000 sqm GLA.   It is located  on  a  69 000 sgm
site in Volgograd and was originally opened in two phases in 
2003-2004.
Rachel Lavine, CEO of Atrium, commented:  "The extension to our  
Volgograd  Park House shopping mall is a good example of  Atrium´s  
ability  to  deliver  income producing improvements to its standing 
assets and is  a  particularly  effective
way of enhancing value during  difficult  market  conditions.   We  continue  to
explore ways  of  creating  value  and  improving  performance  at  all  of  our
operating assets and believe strongly in the potential of our portfolio."
For further information:
Financial Dynamics:            +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones 
Richard.sunderland@fd.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.
About Atrium European Real Estate Limited Atrium is a leading real 
estate company focused on shopping  centre  investment, management 
and development in Central and Eastern Europe. As  at  30  June  2009
the Group owned 152 standing investments, with a market value of 
EUR1.49 billion, diversified across eight countries with a  total  
gross  lettable  area  of  1.1 million sqm.  Geographically, the 
Group´s focus is principally concentrated  in Poland, the Czech 
Republic and Russia  with  a  presence  in Hungary,  Romania, 
Slovakia, Latvia  and  Turkey.  In  addition,  the  Company has  a  
development portfolio including several development projects with a 
market  value  of  EUR712 million as at 30 June 2009.
Gross rental income from investment properties for the year  ended  
31  December 2008 was EUR134 million and EUR75 million for the first 
half of  2009.   Net rental income for the year to 31 December 2008 
amounted to EUR95 million and EUR59  million for the six months to 30
June 2009.  As at 30 June 2009, the Company had a  cash position of 
EUR855 million against borrowings of EUR1.08 billion.
Following a strategic investment of EUR500 million by a  Citi  
Property Investorsand Gazit Globe Ltd joint venture, agreed in  
August  2008,  Rachel Lavine  wasappointed Chief Executive Officer  
of  Atrium.  Rachel  Lavine  has significant experience of both real 
estate and the CEE region and was previously  President and CEO of 
Plaza Centres.  The Board is chaired by  Chaim Katzman,  founder  of 
Gazit Globe Ltd. (TASE:GLOB), which  has  extensive global  
experience  of  all aspects of the real estate industry and  is  one 
of  the  largest,  developers, owners and operators of shopping 
centres in the world.
The Company is based in Jersey and  dual  listed  on  the  Vienna  
and  Euronext Amsterdam Stock Exchanges under the ticker ATRS.

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 Continous
Börsen: Wien / official market

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