Sonae Imobiliária: Net Consolidated profits grew 17% on the 3^rd quarter of 2000

• Net Consolidated Profits were PTE 3.341 billion (€ 16.7 million).
• Operating income grew by 22% to PTE 31.0 billion (€ 154.8 million),
• Operating profits went up by 16.4% in the same period, to PTE 6.207 billion(31.0
• million)
• Market capitalisation reached PTE 105.3 billion (€ 525 million) a growth of 6.95% relative to 31/12/1999.

2. Development of new projects

• MadeiraShopping (Madeira, Portugal): 70 % of the GLA already committed (scheduled to open in 2001);
• AlgarveShopping (Guia, Portugal): 60 % of the GLA already committed (scheduled to open in 2001);
• Sintra Retail Park (Sintra, Portugal): 100% of the GLA already committed (scheduled to open 15 November);
• Plaza Mayor (Malaga, Spain): Under construction, 78% of the GLA already committed;
• Setúbal Retail Park (Setúbal, Portugal): Promissory contract signed for the acquisition of a plot of land to develop;
• Parque D. Pedro (Campinas, Brazil ): 50% of the GLA already committed (scheduled to open in 2001);

3.  Portfolio of shopping centres performing well

• Total rental income up by 18 %;
• Centro Vasco da Gama has received over 15.3 million visits and registered sales of PTE 21.9 billion;
• At CascaiShopping, the phase II construction has started;

4.  Overall management of 3,371 leasing contracts and 931,800 m2 of GLA

• Portugal: In the first nine months of 2000, visitors and sales growing by 4.9% and 20.7% respectively, relative to the same period of 1999;
• Spain: establishment of a joint venture to develop a new shopping centre in Madrid;
• Brazil: management of 105.700 s.q.m. of GLA in five shopping centres and 729 leasing contracts.

5. Car Parks: turnover reaches PTE 649 million with a 19.7% growth

6.   Residential: Three projects under Development

7.   "New Technologies Business Project": A new department was created in order to promote the convergence of the new technologies whit the physical businesses pursued by the company;