Press Release - October 26th 2005

First shopping centre with environmentally certified construction work

Sonae Sierra inaugurates LoureShopping with a five hectares Green Park

• 121 shops and the creation of 1000 new jobs
• 100% of the Gross Lettable Area already let
• 9,9 million visits per year expected
• Environmentally certified construction work management
• Certified global access management system

Sonae Sierra inaugurates today the LoureShopping, a development that represents an investment of €67 million, and that will open to the public tomorrow, October 27th, two years after the beginning of construction, in September 2003.

Representing an important step in terms of innovation and quality as well as shopping and leisure offer in the region of Loures, this new Sonae Sierra development has a Gross Lettable Area (GLA) of 38.640 m2 and features a total of 121 shops, eight of which are anchor shops, and also 26 restaurants and a parking lot with 2.100 spaces. The main innovation in terms of leisure is the Green Park created in the surrounding area, with an area of more than five hectares, where visitors can enjoy a well-cared green area and several leisure activities.

The new shopping centre hosts many of the most prestigious national and international brands, such as Continente, Zara, Castelo Lopes Cinemas with 7 theatres and 1370 seats, Worten, Vobis, Sportzone, H&M and Valentim de Carvalho as anchor shops, as well as Stradivarius, Pull&Bear, Massimo Dutti, Bershka, Often, Zara Home, Oysho, McDonald´s, Chimarrão, KFC, Frango da Guia, and more.

Set on an 82.940 m2 site (more than 52 thousand of which are green areas), the new shopping and leisure centre is located next to Quinta do Infantado, in Loures, and is served by a complete network of access roads, such as the A8 highway (Lisbon-Torres Vedras), CREL and EN 115. We also highlight the several improvements carried out by Sonae Sierra in the area that surrounds the development.

LoureShopping will serve a population of more than 640 thousand people in a 30 minutes catchment area, and is expected to welcome about 9,9 million visits per year. The annual sales are expected to reach about €74,8 million, and roughly 1000 new jobs were created.

Green Area for leisure activities

As a reflex of the environmental concerns of Sonae Sierra in the development of LoureShopping, this is the first development of the kind built by the Company to include in its leisure area a Green Park accessible to all visitors, neighbours, and the community in general. The Green Park as garden of more than five hectares with 1000 trees, which includes a pedestrian trail with a fitness course, a bike trail and several other equipments, namely a traditional games area and an area for the hosting of outdoors events.

The Park is crossed by a water line, which has its quality ensured by the maintenance of the creek's natural characteristics and the building of five wooden bridges that allow people to visit the entire area.

The flora for this area was chosen considering the region's climate, and the dominant species are aspens, ash-trees, oaks and cork-oaks. There are also different bush species and a meadows area with different types of bushes.

Guaranteed environmental quality, accessibility and safety

Benefiting from Sonae Sierra's vast experience and know-how in the development of shopping and leisure centres, the LoureShopping abides to all of the company's rigorous demands in terms of comfort, safety, integration in the surrounding environment and environmental quality.

The LoureShopping was the first shopping centre in Portugal to obtain the ISO  14001 environmental certification for its construction work.

Awarded  by  the  Bureau  Veritas (BVQI),  this  certification  is  the  result  of  the implementation of the finest practices in terms of the environmental management of construction work, defined in the scope of Sonae Sierra's Environmental Management System,  which  aims at minimizing  environmental impacts and develop a continuous improvement of the performance in this area.

LoureShopping is also a pioneer in Portugal because of its certified global accessibility management system, ensured by the UNE 170001-2:2001 standard, which concerns the good  access  of  all  visitors  to  all  public  areas,  namely  the  ones  with  moving impairments.

Also in what concerns safety, the LoureShopping benefits from some of the most modern support systems, such as the automatic fire detection system (SADI), the closed circuit television surveillance system (CCTV), the automatic intruder alert system (SAI), the fire-fighting system (RIA), and the access control system.