Press Release, Berlin, 1st of June 2007

Following Sonae Sierra Corporate Responsibility strategy

ALEXA is the first Shopping Centre construction site in Germany with an Environmental Certificate

• Certified according ISO 14001 Standard
• Sustainability with environment-friendly materials
• Key delivery ceremony to tenants on 14th June 2007

ALEXA,  at  Berliner  Alexanderplatz,  is  the  first  shopping  centre  construction  site  in Germany  to  obtain,  during  its  construction  stage,  the  ISO 14001  environmental certification, which refers to the management of the construction process.

Issued by Loyd`s Register Quality Association (LRQA), this certification is the result of the implementation of the best practises in environmental management during construction, defined in the scope of Sonae Sierra's Environmental Management System, which aims at minimizing the environmental impacts and promoting a continuous improvement of our performance in this area. The certification process has been accompanied by the ALEXA Environmental team with support by ENVIRON Germany GmbH and CU Consult.

„ We are convinced that today's business leader must also be a leader in environmental matters.  Sonae  Sierra  intends  to  set  an  example  to  other  shopping  centres  by demonstrating  that  good  environmental  stewardship  in  business  can  lead  to  improved performance and competitiveness. The certification according ISO 14001 not only proves that we take our responsibility for the environment seriously but also that we concretely act upon it. ISO  14001 attests the quality of our Environmental Management System by which  we  guarantee  the  implementation  of  all  environmental  objectives.  We  are improving permanently the environmental protection on our construction sites and are minimising the environmental risks", states Álvaro Portela, CEO Sonae Sierra. But this is not all:  "The successful implementation of the Environmental Management System also gives us competitive advantage because it leads to costs-saving, e. g. through minimising the  waste  and  optimisation  of  waste  recycling  as  well  as  through  reduction  of  the construction site traffic and decreasing energy consumption."

Sustainability for nature and environment

ALEXA  construction  site  in  Berlin  is  the  eighth  construction  site  in  a  row  which  is developed according to the environmental management system of Sonae Sierra and that had their construction certified.

Within  its  Corporate  Responsibility  Strategy  the  international  specialist  for  shopping centres Sonae Sierra looks to ensure social justice, environmental protection, and economic prosperity in order that the Companies business can truly be sustainable, in the very longterm meaning of the word.

For Sonae Sierra, the environmental management of construction work is an important component in the development of the "green centre" concept, which has been a part of the  different  development  of  the  company  throughout  the  years.  According  to  this concept,  the  implementation  of  minimization  measures  for  the  building's  impact  is guaranteed from the concept stage of the development.

The implemented system answers environmental questions that have been identified in the  daily  management  of  the  construction  work,  managing  them  in  an  eco-efficient manner. The consumption of natural resources - water, energy, fuels and raw materials, the noise, the discharging of residual waters and the management of waste produced are some of the aspects taken into account when defining the procedures that regulate the construction work.

„Until 2008 we will be in a leading position as company renown for its environmental responsibility in our business sector", states Álvaro Portela, in the recent published third Corporate Responsibility Report of the company (www.sonaesierra.com). To underline this approach the company voluntarily obliged itself to minimise the CO2 consumption about 10 % per square meter until 2020 compared to 2005.

Usage of environment friendly construction material

ISO 14001  norms  confirms  a  continuously  structured  improvement  process,  based  on planning,  implementation,  controlling  and  optimisation.  A  company's  measurable environmental efforts are the objective of the ISO 14001.

Sonae Sierra's contractors are obliged to use environmental friendly materials for the construction of its shopping centres; this accordant usage is monitored and controlled by the  company.  In  order  to  minimise  the  energy  consumption  and  the  traffic  on  the construction site several measurements have been implemented: e. g. waste collecting and separation directly on the construction site to be removed by high capacity lorries to decrease the construction site traffic.

Ceremonial Key Delivery on 14th June 2007

On 14 June 2007 Sonae Sierra is going to symbolically hand over the keys to 54,000 square metres of floor space to the tenants of ALEXA in an official key delivery ceremony. In total 180 tenants will start moving in as of June to complete the individual interior fitting works of their shops. The symbolic key delivery ceremony, by now an international tradition, is going to take place within a gala event where the opening day of the shopping centre will be announced.

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 44 shopping centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total rentable floorspace of more than 2.0 million square metres. At present the company is engaged in the development of 15 further projects in Germany, Spain, Portugal, Greece and Brazil with a gross floorspace of more than 550,000 square metres. In 2006, the company registered more than 402 million shoppers in its retail outlets.

Foncière Euris specialises in the development of shopping and leisure centres in Europe. The company forms alliances with top-quality developers to invest in major projects that contribute to vitalising cityscapes. Major developments are: Carré de Soie project on the outskirts of Lyons, Paris-based Beaugrenelle shopping centre, Manufaktura programme in Lodz, Poland. Foncière Euris S.A. is a subsidiary of the Euris Group, which also controls the Casino Group, France's second largest retail chain listed on the stock exchange.