Berlin, 14th June 2007

ALEXA delivers Keys to Tenants

Countdown starts - Alexa opens on September 12th

• A €290 million investment, which creates 180 shops and 1000 new jobs
• 95% of the Gross Lettable Area (GLA) already let
• 26% of the total GLA occupied by local tenants
• Main national and international brands present
• Project certified according ISO 14001 Standard

"A star is born" - following this theme, Sonae Sierra and Foncière Euris today symbolically hands over the keys to the tenants of ALEXA in an official ceremony attended by retailers, all project partners and the senate of Berlin. As of today, the countdown begins until the official opening of ALEXA to the public on 12th September 2007.

Sonae Sierra and partner for development and investment Foncière Euris joined forces in 2004  at  equal  parts  (50  percent)  and  invested  €290  million  into  the  German  flagship project ALEXA that will redefine shopping and leisure for people of all ages, contributing to  Berlin's  socio-economic  growth  and  development.  "We  offer  56,200  square  meters lettable area to our tenants. Customers will be able to shop, enjoy entertainment and relax on  13,000 square meters mall space. Also, they will find  1,600 parking spaces on three underground levels. All in the very heart of Berlin", says Álvaro Portela, CEO of Sonae Sierra. "We hope to attract 9 million visitors in the first full year of activity."

Today ALEXA opens its doors for an exclusive one-day preview of its areas for key members of the German retail, business and political communities. In total  180 tenants will start moving  in  as  of  today  to  complete  the  individual  interior  fitting  works  of  their  shops.

Visitors can look forward to a mix of large shops and smaller shops offering a complete mix of quality goods.  "The shops are going to be just as modern inside as ALEXA is itself", promises Pierre Férraud, CEO of Foncière Euris. "In the last few weeks we were especially able to acquire tenancy contracts for smaller shops in ALEXA" explains Férraud. "They are a perfect compliment to flagship tenants such as  Media Markt, H&M, Zara,  Esprit and Douglas Holding, and will ensure that ALEXA will have a unique character."

ALEXA  is  also  going  to  feature  an  innovative  entertainment  concept,  accommodating Kindercity,  offering  children  exciting  and  creative  learning  and  playing  time,  and  the "Loxx" train experience, with digitally managed trains in a scale of  1:87, such as Berlin trams, and a model of a commercial airport with planes taking off and coming in to land.

Environment protected

 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.

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 Gross Lettable Area  (GLA) of more than  1,6 million m2. Currently, Sonae Sierra is developing  15 more projects in Portugal, Spain, Italy, Germany, Greece and Brazil, with a total GLA of more than 500.000 m2. In 2006, the company had more than 402 million visits in it's shopping centres.

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.