Maia, Portugal, 15th of November 2006

Sonae Sierra reinforces expansion team

New Expansion Manager at Sonae Sierra

Sonae  Sierra,  the  international  shopping  centre  specialist,  has  appointed  Jorge Morgadinho, who has broad experience of the development of shopping centres, to its expansion team. Since 1st of November 2006, Jorge has been appointed Sonae Sierra Expansion Manager, New Markets.

Jorge Morgadinho, 39, started his career in Sonae Sierra in 1994 as an architect in the Centro Colombo project and was then appointed deputy development manager for  Centro  Vasco  da  Gama.  Since  1999  Jorge  was  responsible  for  the  project management  of  new  shopping  centres  in  cities  such  as  Málaga  (Plaza  Mayor), Toledo (Luz del Tajo) and Madrid (Plaza Éboli). Over the last 17 months he studied for his Global Executive MBA, at IESE - Universidad de Navarra, fully sponsored by Sonae Sierra.

Fernando  Oliveira,  Board  Director  of  Sonae  Sierra's  development  activities  has welcomed Morgadinho new role: "We are pleased about the reinforcement of our Expansion team. Jorge Morgadinho is an industry insider, with 12 years experience in  Sonae  Sierra,  and  his  know-how  will  be  a  great  asset  for  the  successful expansion of our activities".

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  40 shopping centres in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total Gross Lettable Area (GLA) of more than  1.6 million m².   Currently, Sonae Sierra is developing another  15 projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than 520.000 m².   In 2005, its shopping centres had more than 400 million visits.