Lisboa, 04-1-2007

In the scope of the new Caldas da Rainha shopping centre project

Sonae  Sierra  signs  a  cooperation  agreement with Faianças Artísticas Bordalo Pinheiro

• The image of artist Rafael Bordallo Pinheiro as an inspirational theme for the Shopping Centre

Sonae Sierra, the international shopping centre specialist, has signed a cooperation agreement with Faianças Artísticas Bordalo Pinheiro, Lda, intended to associate the image and products of the factory, founded in 1884, to the Caldas da Rainha shopping centre, currently in the licensing stage.

With this agreement, the image of artist Rafael Bordallo Pinheiro becomes the central theme of the shopping centre, and materials from the factory will be used in the decoration.

Sonae Sierra will also create conditions for a space dedicated to the marketing of Faianças Artísticas Bordalo Pinheiro products, thus creating the conditions for a greater presence of the brand in the community, and making an important contribution to the financial consolidation of the factory.

The protocol signed today reflects Sonae Sierra's corporate responsibility policy, illustrating the company's efforts to integrate itself in the local community, both in economic terms and in terms of promoting the local industries.

The Faianças Artísticas Bordalo Pinheiro, Lda factory is today one of the main icons of the city of Caldas da Rainha. Founded in 1884, then called Fábrica de Caldas da Rainha, it became popular by offering an infinity of convenience and decoration pieces, maintaining the rigour and design of the master, artist Rafael Bordallo Pinheiro.

The project of the Sonae Sierra shopping centre is the responsibility of architect José Quintela da Fonseca, and it includes the connection to the pre-existing Modelo das Caldas da Rainha. The new space will include three levels of commerce and leisure, and two underground parking levels.

This equipment will reinforce Caldas da Rainha as the centre of attraction in its region. Besides providing a much improved offer in the shopping and leisure offer, the new centre will also have a significant impact in terms of job opportunities, creating new jobs in the city.

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 41 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 14 more projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than 500.000 m2. In 2005 its centres have welcomed more than 400 million visits.