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08.02.2010 – 09:07

Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
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St Helier Jersey / Channel Islands (euro adhoc) - 8 February 2010


Jersey, 8 February, 2010: 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 appointment of Thomas Schoutens as Chief Development Officer.

Mr Schoutens, aged 41, joins from Carrefour Group, the world's second-largest retailer and the largest in Europe, which he joined in 2003.

He is a Belgian national with 18 years of real estate and construction industry experience in Central and Eastern Europe and Russia.

From 2003 until 2009, he served as a member of Carrefour's Executive Committee in Poland and Russia and as Director of Assets, Investments & Expansion in these countries.

Since 2007 he held responsibility for Carrefour's expansion strategy and operations in Russia which included undertaking an in-depth market investigation of 80 major Russian cities. Prior to this he had responsibility for all aspects of Carrefour's Polish expansion; during which period the number of stores increased from 68 to 328. He also managed the development of over 20 shopping centres.

From 1995 - 2003, he worked for the Belgian-based global construction group CFE (Group Vinci), where he held a number of management positions and, from 2001, was the manager of the Warsaw branch of the business.

From 1991 - 1995 he worked for the Belgian general contractor Besix and the Belgian developer Euton, where he held various supervisory and project management roles in Russia and the Czech Republic.

Mr Schoutens has a degree from the IC-HEC Business Management School in Brussels and is a Commercial Engineer.

Mr Schoutens replaces Dominique Beghin, who left to Company for personal reasons.

Commenting on the appointment Rachel Lavine, CEO of Atrium, said: "Thomas has a wealth of experience that fits exactly with Atrium's operations and has been gained through 18 years in Central and Eastern Europe, particularly in Poland, Russia and the Czech Republic and including seven years at the world's second largest retailer. I am very pleased to welcome him into our team and we look forward to working with him and to utilising his contacts and know-how, as we continue to cement Atrium's position as the foremost operator and developer of supermarket anchored shopping centres in Central and Eastern Europe."

"Dominique's contribution to Atrium's re-structuring and re-organization has been invaluable and on behalf of the Board of Directors and all of his colleagues at Atrium, I would like to thank him sincerely for his hard work and dedication over the past year and a half."

For further information:

Financial Dynamics: +44 (0)20 7831 3113 Richard Sunderland

Laurence Jones


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 September 2009 the Group owned 152 standing investments, with a market value of E1.46 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 E706 million as at 30 September 2009.

Gross rental income from investment properties for the year ended 31 December 2008 was E134 million and E117million for the first nine months of 2009. Net rental income for the year to 31 December 2008 amounted to E95million and E89 million for the nine months to 30 September 2009. As at 30 September 2009, the Company had a cash position of E814 million against borrowings of E1.07 billion.

Following a strategic investment of E500 million by a Citi Property Investors and Gazit Globe Ltd joint venture, agreed in August 2008, Rachel Lavine was appointed 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.

end of announcement                               euro adhoc

Further inquiry note:

Financial Dynamics, London
Richard Sunderland / Laurence Jones
Phone: +44 (0)20 7831 3113

Branche: Real Estate
Index: Standard Market Continous
Börsen: Wien / official market

Original content of: Atrium European Real Estate Limited, transmitted by news aktuell