S. João da Madeira, Portugal - February 7th 2007

Sonae Sierra invests € 48,6 million

8ª Avenida expected to innovate in S. João da Madeira

• 117 shops, including a Modelo supermarket and 5 cinemas
• Creation of 1000 new jobs
• 5,7 million visits per year scheduled

Future shopping and leisure centre  8ª Avenida, owned and developed by Sonae Sierra in the  city  of  S.  João  da  Madeira,  Portugal,  is  presented  to  the  public  today.  Under construction since April 2006, and scheduled to be inaugurated next Fall, this innovative development, the result of the expansion of the Modelo Shopping Centre, built in  1993, represents  an  investment  of €48,6  million,  and  will  be  a  valuable  step  towards  the modernization of the shopping and leisure offer in the S. João da Madeira region, where there is no other similar development.

With a Gross Lettable Area (GLA) of 32.085 m2, 8ª Avenida will make available a complete and  diversified  offer,  in  a  total  of  117  shops,  including  the  13  that  pre-existed  in  the current  Modelo  Shopping  Centre.  There  will  be 12  large  shops,  including  a  Modelo supermarket,  5 Castelo Lopes cinemas, as well as SportZone, Worten, Modalfa and C&A. The offer is complete with 14 restaurants and  91 shops, which will host a large group of prestigious  brands,  namely  Bershka,  Stradivarius,  Pull&Bear,  Kiddy's  Class,  Springfield, Woman's Secret, Lanidor, Zippy, Livraria Bertrand, and Multiopticas, among others.

Built on a  27.620 m2 site, the new shopping and leisure centre is located on one of the most important avenues of S. João da Madeira, Avenida Renato Araújo, and has several access roads, including the E-1 (by way of EN227) and the IC1 (by way of EN227), besides the  A1  and  the  IC2,  two  of  the  main  roads  in  the  country's  northern  region.  The  new Shopping and Leisure Centre will have a free parking lot with 1.700 spaces.

Located in a region with a catchment area of about 300.000 inhabitants no more than 20 minutes  away,  8ª  Avenida  will  serve  an  even  more  numerous  population,  since  it  will attract  clients  from  surrounding  areas  that  integrate  an  industrial  pole,  thus  with  a population  expected  to  increase  in  the  coming  years.  5,7  million  visits  per  year,  and estimated sales of about €50 million in the first year of operation are expected, excluding supermarket sales.

This development should generate, once it's open to the public, a total of 1000 new jobs. The architectural theme of this new shopping and leisure centre, by the Sonae Sierra team lead by architect José Quintela, and by Laguarda.Low, is based on S. João da Madeira's regional codes  - the fashion industry, thus establishing an emotional bond with the local community.

Safety and environmental quality

Like  every  shopping  and  leisure  centre  developed  by  Sonae  Sierra,  the  8ª  Avenida  was designed  and  is  being  built  according  to  the  company's  Environmental  Management System, so as to comply with the most rigorous and demanding quality standards imposed by  the  company  for  all  of  its  developments,  namely  in  terms  of  comfort,  safety,  and environmental protection.

Therefore, this new centre will feature the most sophisticated solution in areas such as the separation and treatment of waste, or the monitoring of water and air quality. The energy management and savings system is fully computerized (BMS - Building Management System).

In terms of safety, 8ª Avenida will also benefit for 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 portable fire-fighting system (RIA), or the access control system.

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 43 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 welcomed more than 400 million visits.

Annex: Technical sheet