São Paulo, October 2nd 2006

1st place in the "Corporate Social Responsibility - Internal Public" category

Sonae Sierra's PERSONÆ Project wins the ECO Award, from the American Chamber of Commerce

• 143 projects by 105 companies were up for the award.
• The award ceremony will be attended by the former vice-president of the United States, Al Gore.

PERSONÆ, a groundbreaking project in the shopping and leisure centre business, developed by Sonae Sierra with the support of DuPont Safety Resources, has just won the Eco Award, in the "Corporate Social Responsibiliy - Internal Public" category, from Amcham.

Initiated in  2004, PERSONÆ aims at accelerating the development of Sonae Sierra as the shopping centre company with the highest standards and practices on Health,  Safety and Social Responsibility in Europe and Brazil, and the program's implementation is scheduled to last four years.

Social responsibility starts with taking care of the people around oneself, hence protecting them from any harm: a culture of anticipation will drive the prevention of "accidents" that can cause harm to oneself or others. PERSONÆ will foster that culture of anticipation and integrate it in the attitude of each one, which will improve social responsibility and business performance.

PERSONÆ is being successfully implemented in all of the Company's shopping centres and offices, in Europe and Brazil, but isn't confined to those facilities: "The purpose is to extend the  knowledge  obtained  during  the  application  of  the  project,  bringing  it  into  our  staff families and to the everyday lives of all those involved. It's a bold and groundbreaking policy in terms of Safety and Health, and it also has a social function", said Pedro Soveral Rodrigues, responsible for the project in Sonae Sierra.

In its first two years alone, PERSONÆ has involved more than 11 thousand people, among employees, tenants, and suppliers in Sonae Sierra. Currently, Sonae Sierra's shopping centres and offices prepare documents, seminars and workshops, conduct awareness visits to all shops and premises, and correct non-conformity situations observed, also involving suppliers.

Another  one  of  the  project's  actions  is  the  regular  holding  of  meetings  with  employees, managers  and  shop  owners  to  debate  apparently  simple  attitudes,  such  as  accident prevention drills. The purpose is to stimulate the tenants to make this project an everyday work tool.

"It's everyone's duty to look after the health of employees and customers. Social responsibility begins with our concern for the people around us. A culture of anticipation allows for the prevention of accidents that may cause harm to ourselves, others, and assets", concluded Pedro Soveral Rodrigues.

Other actions in the scope of PERSONÆ have a much more simple and effective methodology. Every month,  employees  from both  offices  and shopping  centres receive  "Safety Tips", a message with safety and health advices related to their everyday activities. This message is also sent by shopping centre administrations to their tenants. The idea is for the latter to pass the message to their employees and relatives, further disseminating the information.

The Award

Launched  by  Amcham  in  1982,  The  ECO  Award  was  a  pioneer  in  the  acknowledgment  of companies  that  adopt  socially  responsible  practices,  generating  a  reflection  on  the development of the concept and practice of Business Citizenship in Brazil.

On its 24th edition, 143 projects from 105 companies were up for the award. The number of applicants was one of the largest ever. The award ceremony will be attended by the former vice-president of the United States, Al Gore, and will take place on October 17th, at the Ibirapuera Auditorium, in São Paulo, Brazil.

For further information on the award, go to:

http://www.premioeco.com.br/historico/index_html

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  39 Shopping Centres in Portugal, Spain, Italy, Greece and Brazil, with a total Gross Lettable Area  (GLA) of more than  1,6 million m2. Currently,  Sonae Sierra is developing  14 more projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than  480.000 m2. The company has earned an international reputation for the innovation of its products and its management capacity, and has gathered more international awards than any other company in its sector.