Press release - 2nd May 2005

Under the Sonae Sierra environmental management system

LoureShopping  is  awarded  environmental  certification  for its building phase

LoureShopping, a shopping centre currently being developed by Sonae Sierra, is the first such centre in Portugal to gain environmental certification under ISO 14001 during its building phase, as a result of its management of construction procedures.

Awarded  by   Bureau   Veritas (BVQI),   this   certification   is   awarded   for implementing best environmental management practices on site, as set forth in Sonae  Sierra's  Environmental  Management  System.    The  aim  is  to  minimize environmental impact and to encourage ongoing improvements in this field.

The system which has been implemented deals with environmental issues that arise during day-to-day construction management on site and manages them in an eco-efficient way.    The consumption of natural resources  (water, energy, fuel and raw materials), noise, waste water discharge and waste management are some of the areas covered in the procedures, which guide and regulate how the project is carried out.

Sonae   Sierra's   passion   for   innovation   and   its   ongoing   commitment   to incorporating  environmental  management  into  all  of  its  new  projects  have gained  widespread  recognition.    Abroad, three Sonae  Sierra developments in Spain have also received the same certification, the projects in question being Dos Mares in Murcia, Luz del Tajo in Toledo, and Plaza Eboli in Madrid.

For Sonae Sierra, environmental management during construction plays a major part in the development of its  ‘green centre' concept, which has been at the heart  of  the  company's  various  developments  over  the  years.     Under  this concept, measures to minimize the building's impact are included right from the design and planning phase.

Opening planned for autumn 2005

LoureShopping leisure and shopping centre, which is owned and developed by Sonae Sierra, involves investment of  €66 million and is set to open in autumn 2005.

Gross lettable area will be 40 000 m2.   It will have 106 shops, of which nine will be anchor shops, including a Continente hypermarket, plus 25 restaurants and a 2 100-space car park.

LoureShoppingwill  serve  a  population  of  over 640 000  people  within  a  30 minute radius.   It is expecting 9.9 million visits per year and will directly create something in the region of 1 000 new direct jobs.