EANS-Adhoc: Atrium European Real Estate Limited / FIRST HALF RESULTS SHOW A CONTINUED STRONG OPERATIONAL PERFORMANCE AND SOLID PROGRESS IN THE GROUP'S STRATEGY FOR GROWTH

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23.08.2013

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

FIRST HALF RESULTS SHOW A CONTINUED STRONG OPERATIONAL PERFORMANCE
AND SOLID PROGRESS IN THE GROUP'S STRATEGY FOR GROWTH ~ Gross rental
income for the half year surpasses EUR100 million ~

Ad hoc announcement - Jersey, 23 August 2013. Atrium European Real
Estate Limited (VSE/Euronext:ATRS), a leading owner, operator and
developer of retail real estate and shopping centres in Central and
Eastern Europe, announces its interims results for the second quarter
and six months to 30 June 2013.

Financial Highlights: * Gross rental income ("GRI") increased by 5.2%
to EUR101.1m (6M 2012: EUR96.2m), with an increase in EPRA
like-for-like GRI of 3.9% to EUR99.7m (6M 2012: EUR95.9m) * Net
rental income ("NRI") increased by 4.9% to EUR96.3m (6M 2012:
EUR91.7m), with an increase in EPRA like-for-like NRI of 3.6% to
EUR94.8m (6M 2012: EUR91.5m) * Operating margin remained stable at
95.2%, slightly ahead of management expectations for the full year
(6M 2012: 95.4%) * EPRA occupancy rates unchanged at 98% * EBITDA,
excluding revaluation, disposals and impairments increased by 6.8%
to EUR81.3m (6M 2012:EUR76.1m) * Profit before taxation was EUR61.7m,
compared to EUR90.9m for the first half of 2012, with the change
primarily due to a non cash EUR7.5 million upwards revaluation of
the portfolio compared to EUR33.0million for the first half of last
year * Company adjusted EPRA earnings per share increased by 4.1% to
17.7 cents (6M 2012: 17.0 cents) * EPRA net asset value ("NAV") per
ordinary share increased by 1.4% to EUR6.52 (31December2012:
EUR6.43; 31 March 2013: EUR6.49) after distributing dividends of
EUR0.10 per share. * The value of the Group's 156 standing
investments grew by 0.8% to over EUR2.2bn, with over EUR1.0bn
located in Poland * Cash position of EUR529.9m with borrowings of
EUR879.5m as at 30 June 2013 (FY 2012: EUR537.1m) with a gross and
net LTV of 31.5% and 12.5% respectively, reflecting the successful
EUR350million Eurobond issuance during the period * Third quarterly
dividend payment of EUR0.05 per share due on 30 September 2013 to
shareholders on the register at 21 September 2013 with an ex-date
of 19 September 2013

Operational Highlights: * Announced the acquisition of the Galeria
Dominika?ska shopping centre in Wroclaw, Poland for EUR151.7
million, which is in line the Group's aim of acquiring prime,
income producing shopping centres in the major cities of Atrium's
core CEE markets * EUR350 million successfully raised through the
placing of a 3.7 times over-subscribed unsecured seven year
Eurobond * The Group's 75,000 sqm Atrium Felicity development in
Poland is now over 90% pre-let, with an average lease length of
approximately six years, and on target to open in Q1 2014.
Construction work has also now commenced on the 17,300 sqm Phase II
extension to Atrium Copernicus in Torun, Poland, which is already
65% pre-let

Commenting on the results, Rachel Lavine, CEO of Atrium European Real
Estate, said: "We have delivered a positive set of first half
results as evidenced by our robust operational performance and
continued growth in rental income. We have also made good progress
in the implementation of our strategy for growth, having raised
EUR350 million through a very successful Eurobond issuance and the
acquisition of a significant Grade A shopping centre in Wroclaw,
Poland, for EUR151.7million. In addition, we are now over 90%
pre-let at our major development, Atrium Felicity, in Lublin and have
recently started construction of a large extension to our Atrium
Copernicus shopping centre in Torun, both of which will come online
next year. The economic situation appears to be improving gradually
and I therefore look forward to the remainder of 2013 with a cautious
degree of optimism."

This announcement is a summary of, and should be read in conjunction
with the full version of the Group's Q2 2013 results, which can be
found on the Atrium page of the Vienna Börse website at
http://en.wienerborse.at/ and on the Group's page of the Euronext
Amsterdam website, www.euronext.com or on the Group's website at
www.aere.com.

Further information can be found on Atrium's website www.aere.com or
from:

Analysts:
Ljudmila Popova
lpopova@aere.com
Press & Shareholders:
FTI Consulting Inc
+44(0)2078313113
Richard Sunderland

Will Henderson
Nina Legge
atrium@fticonsulting.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.

Further inquiry note:
Richard Sunderland, FTI Consulting Inc
+44 (0)20 7831 3113
atrium@fticonsulting.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@fticonsulting.com
WWW: http://www.aere.com
sector: Real Estate
ISIN: JE00B3DCF752
indexes: Standard Market Continuous
stockmarkets: official market: Wien
language: English