September 26th 2005

In terms of Climatic Responsibility in Portugal

Sonae Sierra leads Euronatura's ranking

Sonae Sierra took first place in a study carried out by Euronatura, which aims at evaluating the  performance  of  a  selected  number  of  companies  from  different  areas  of  activity operating in Portugal, in terms of their ability to handle the challenge of climate changes.

This survey,  called "Climate  Changes  and  Corporate  Management:  Response  Index", covered 31  companies,  and  Sonae  Sierra  got  the  best  overall  score,  thanks  to  its Environmental Management Policy, which significantly addresses climate issues.

Sonae Sierra was voluntarily a part of this Euronatura study, and leads a ranking that also includes  institutions  such  as  CIMPOR,  the  runner-up,  followed  by  Secil,  Celbi,  EDP Produção, Petrogal, Cinca, B&A, Somague, Portucel Soporcel, LIPOR and Pingo Doce. The first place in Euronatura's study is once again an acknowledgement of Sonae Sierra's Corporate Responsibility Policy, which translates into a continuous commitment to make environmental management a part of the development and management of each shopping and leisure centre.

With this in mind, Sonae Sierra launched this year its first Corporate Responsibility Report, which contains detailed figures of economic, social and environmental performance, thus allowing for the evaluation of the progress made by the company through time.

As a result of the implementation of the finest practices in Sonae Sierra's environmental management, the company was a pioneer in several environmental certifications obtained during  the  construction  stage  of  developments,  both  nationally  and  internationally, namely for LoureShopping  (Loures), RioSul  (Seixal), Serra Shopping  (Covilhã), Dos Mares (Múrcia), Luz del Tajo (Toledo) and Plaza Eboli (Madrid)).

This study was developed by Euronatura - Centre for Environmental Law and Sustainable Development,  an  NGO  that  specializes  in  science,  politics,  and  environmental  law.  It assumed  that  climatic  responsibility  is  an  integral  part  of  all  companies'  social responsibility, not just the responsibility of companies covered by the European Commerce of Emissions Licenses.

Sonae Sierra, www.sonaesierra.com, is an international shopping centre specialist, with a passion for bringing innovation and excitement to the shopping and leisure centre industry. The Company owns or co-owns 34 Shopping Centres, in Portugal, Spain, Italy and Brazil, with a total Gross Lettable Area (GLA) of more than 1,4 million m2. Currently, Sonae Sierra is developing 15 more projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than 600.000 m2