EANS-Adhoc: Atrium European Real Estate Limited / EXECUTION OF SETTLEMENT AGREEMENT WITH MULTI INVESTMENT

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15.07.2011

Atrium European Real Estate Limited
("Atrium" the "Company" or the "Group")

EXECUTION OF SETTLEMENT AGREEMENT WITH MULTI INVESTMENT

Jersey, 15 July 2011. Atrium European Real Estate (VSE / Euronext:
ATRS), one of the leading real estate companies focused on shopping
centre investment, management and development in Central and Eastern
Europe, announces that, following its statement on 17 December 2010,
it has executed the settlement agreement (the "Agreement") with Multi
Investment BV ("Multi") and that their business relationship has now
been terminated.

The Agreement covers five projects in total:

* Sale of 100% of Atrium's shares in the company that owns Trabzon
shopping centre in Turkey to Multi.

* Acquisition of the remaining 49.9% of the shares in the company
that owns Koszalin shopping centre in Poland from Multi. Koszalin
is now 100% owned by Atrium. The shopping centre in Koszalin has a
gross lettable area of around 54,000 sqm, and is anchored by a
10,000 sqm Tesco.

* Acquisition of the remaining shares in three companies which
respectively own a development project in Sofia, Bulgaria and in
Balcova and Istanbul in Turkey.

As a result of the Agreement Atrium will receive net cash of
approximately E 64 million and generate a profit of approximately E
156million which will be recognised in Q3 2011.

Commenting on the transaction, Rachel Lavine CEO of Atrium European
Real Estate said: "The finalisation of this mutually beneficial
agreement is very positive for Atrium as it allows us to strengthen
our position in Poland, gain control of the development projects and
improve our cash position; thereby providing us with a stronger and
more flexible platform for future growth."

For further information:
Financial Dynamics +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones
Will Henderson
Richard.sunderland@fd.com

More information about Atrium European Real Estate Ltd can be found
on the Atrium page of the Vienna Börse website at
http://en.wienerborse.at/ and on the Company's page of the Euronext
Amsterdam website, www.euronext.com or on the Company's website at
www.aere.com.

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 31 March 2011 the
Group owned 153 shopping centres, with a market value of E1.51
billion, diversified across eight countries with a total gross
lettable area of 1.1 million sqm. As at 31 December 2010, the Company
had a cash position of E374 million against borrowings of E425
million.

Gross rental income from investment properties for the year ended 31
December 2010 was E151 million and net rental income for the period
was E134 million. For Q1 2011 Atrium delivered a net rental income
increase of 17.8%, or 15.9% on a like-for-like basis, compared to Q1
2010, reflecting continued improvement in rental levels and operating
margins. The full year 2010 operating margin improved to 89% compared
to around 81% in 2009 and 71% in 2008.

Geographically, the Group's focus is principally concentrated in
Poland, the Czech Republic and Hungary with a presence in Russia,
Romania, Slovakia, Latvia and Turkey. In addition, the Company has a
development portfolio with a market value of E635 million as at 31
December 2010.

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

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@fd.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English