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Atrium European Real Estate Limited

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Atrium opens two shopping centres in Poland

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
26.11.2008
Atrium European Real Estate Limited
                           ("Atrium" or the "Company")
Atrium opens two shopping centres in Poland
               - Anchored by major supermarkets and over 98% let -
Jersey, 26 November 2008. Atrium European Real Estate (VSX: ATR), one
of the leading real estate companies focused on shopping centre 
investment, management and development in Central and Eastern Europe,
announces the opening of two shopping centres in Poland, ahead of the
key Christmas trading period. The opening yesterday of the Galeria 
Kasztanowa shopping centre, in Pila, was followed today by that of 
Forum Koszalin shopping centre in Koszalin, in which Atrium holds a 
50.1% interest. Both centres are over 98% let to a strong tenant base
of international, national and local retailers which have been 
selected to suit local requirements.
Forum Koszalin Anchored by a 10,000 sqm Tesco, the 82,000 sqm centre 
has a Gross Lettable Area ("GLA") of 53,970 sqm and is 99% let upon 
opening with an average lease length of 9.2 years. It is located in 
Koszalin, the second largest city in the West Pomerania region of 
northern Poland, with a local population of 170,000 people. With good
transport links, 1500 car parking spaces and a large catchment area 
with a strong local economy boosted by tourism owing to its location 
only 10 km from the coast, Forum Koszalin has attracted strong tenant
demand from both national and international retailers. As well as 
Tesco, it has attracted Media Markt, Europe's largest retailer of 
consumer electronics and a large number of well known Polish national
and local retailers.
The second 10,000 sqm property in the two building complex is let 
entirely to Castorama, one of the biggest European DIY chains, and 
opened on 15 November 2008.
The centre also includes a Silverscreen cinema, a Gymnasion fitness 
centre and a number of restaurants, all of which help make the centre
a destination location, drive footfall and allow extended opening 
hours to increase income generation.
Galeria Kasztanowa Located in North West Poland, Pila serves a local 
population of over 75,000 inhabitants. The 51,000 sqm centre is 
anchored by Bomi, the Polish food retailer, which has a chain of 239 
stores, is listed on the Warsaw Stock Exchange and has taken 2,500 
sqm of space. With 66 retail units in total, covering 12,100 sqm of 
GLA, it is 98.6% occupied by a broad range of quality national 
tenants. To encourage footfall, it also has a multiplex cinema, run 
by Helios, a number of restaurants and 433 car parking spaces.
These two projects follow the opening in June 2008 of Atrium's Forum 
Trabzon development on the Black Sea Coast of Turkey. Forum Trabzon 
has a GLA of approximately 49,000 sqm and is the largest retail 
development within a 300 km radius. Tenant mix includes Marks & 
Spencer, McDonald's, Douglas, Intersport, Nike, Levis, LaCoste and 
Benetton, as well as well-known local groups such as hypermarket 
Migros and DIY Koctas, underlying Atrium's ability to attract high 
quality tenants and international occupiers.
Rachel Lavine, Chief Executive of Atrium, said: "These two 
developments are excellent examples of our ability to attract the 
most appropriate tenants for the local catchment area. At Galeria 
Kasztanowa, we have offered flexible spaces and a wide range of rents
that have attracted strong national Polish brands that are suited to 
the needs of the local population. Contrastingly, at Koszalin there 
is a much larger catchment area with an 8.5% above average purchasing
power and a regular influx of tourists, which is more fitting to 
international retailers such as Tesco and Media Markt."
"We maintain a strong presence in Poland, with 15 shopping centres 
operating across the country and have a number of developments at 
various stages of construction. With tenant and consumer demand still
strong in the region, we continue to maintain a strong income stream 
from our operational investment properties."
Financial Dynamics:    +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones 
Richard.sunderland@fd.com
Notes to editors:
About Atrium European Real Estate Limited Atrium is a real estate 
investment and development company whose primary focus is on retail 
assets in Central and Eastern Europe, where it operates in 11 
countries.  At 30 June 2008, Atrium had 160 operating investment 
properties with a market value of just over EUR2 billion and a 
significant portfolio of development projects.  In addition, it has 
established a land bank of over 1.9 million sqm.  For the six months 
to 30 June 2008.  Atrium had a gross rental income of EUR64.1 million
(2007: EUR62.3 million).
end of announcement                               euro adhoc

Further inquiry note:

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

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

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