11th of July 2005

Sonae Sierra and Miller Developments sell´s Coimbra Retail Park

Sonae Sierra and Miller Developments have concluded the sale of Coimbra Retail   Park   to   Scottish   Widows   Investment   Partnership, the  asset management arm of Lloyds TSB, for €19.3 million.

Coimbra Retail Park opened in November 2003, and in 2004 recorded sales of over € 9.5 million.

With a  Gross  Lettable  Area  of 12,750m2  and  560  car  parking  spaces, Coimbra Retail Park has a total of 14 shops, among which are prestigious brands  such  as  Worten,  SportZone,  Vobis,     Mestre  Maco,  San  Luís, Multiópticas and Loja do Gato Preto, as well as  2 restaurants, Sopas & Sopas and Primus Café.

The management of Coimbra Retail Park will remain the responsibility of Sonae Sierra.

This is the second retail park sold by Sonae Sierra and Miller Developments partnership in Portugal, further to the sale of Sintra Retail Park.

Sonae  Sierra,  www.sonaesierra.com,  is  an  international  specialist  in  shopping  centres,  with  a passion for bringing innovation and excitement to the shopping and leisure centre business. The Company is the outright owner or joint proprietor of 34 Shopping Centres in Portugal, Spain, Italy and Brazil, owning a total Gross Lettable Area (GLA) of over 1.3 million m². Sonae Sierra is currently building a further 14 projects in Portugal, Spain, Italy, Germany and Greece, with a total GLA of over 600,000 m2.