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30.12.2010 – 08:43

Atrium European Real Estate Limited

EANS-News: Atrium European Real Estate Limited

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Company Information

St Helier Jersey / Channel Islands (euro adhoc) - COMMENT ON LEGAL PROCEEDINGS

Jersey, 30 December 2010: Atrium European Real Estate Limited ("Atrium" or the "Company") (VSE/Euronext: ATRS), one of the leading real estate companies focused on shopping centre investment, management and development in Central and Eastern Europe, notes the announcement issued yesterday by Meinl Bank ("Meinl") regarding a proposed legal action against the Company filed with The International Arbitral Centre of the Austrian Federal Economic Chamber.

Atrium believes that this action is entirely without merit, and that it is consistent with Meinl's strategy of attempted intimidation by lawsuit.

The indemnityprovisionsto which this legal action refers are not relevant or applicable in this case.

Further, it should be noted that Meinl continues to misrepresent thestatements madeto dateby the Jersey Financial Services Commission ("JFSC"). On 22 December 2010, the JFSC stated thatwhile MEL (now Atrium)had not breached relevant provisions of the Jersey Companies Law in the 2007 buy-back of ADCs, the JFSC "is reviewing the information contained in the Report to consider whether the authorised principal persons of MEL and MERE who approved and undertook the buy back of the ADCs acted in a fit and proper manner."

Atrium believes this legal action is yet another desperate response by Meinl to the E2 billion claim that Atrium brought against Julius Meinl V, Meinl Bank, Peter Weinzierl and other co-defendants as announced in August this year. Julius Meinl V himself also remains under criminal investigation and has been arrested and subsequently released on E100 million bail for matters pertaining to fraud relating to Meinl European Land.

Atrium continues to cooperate and work closely with the Austrian Prosecution Authority, the Austrian Financial Markets Authority and the JFSC in their ongoing independent investigationsand processes.

For further information: Financial Dynamics: +44 (0)20 7831 3113 Richard Sunderland Laurence Jones Stephanie Highett

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 Continuous
Börsen: Wien / official market

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