Lisbon, August 2nd 2007

8ª Avenida opens in S. João da Madeira on the 27th of September

• An investment of €48.6 million, which generates 1000 jobs
• A GLA of 30,500 m2, with 130 shops
• 90% of the Gross Lettable Area (GLA) in the two commercial levels already let
• Main Portuguese and international brands will be present
• The project was certified by the ISO 14001 environmental standard, during the construction stage

Shopping and leisure centre 8ª Avenida, owned and developed by Sonae Sierra in the city if S. João da Madeira, Portugal, will be inaugurated on the 27th of September, 2007. This innovative development, which is the result of the expansion of the pre-existing Modelo Shopping Centre, represents an investment of  €48.6 million, and is an important step in the modernization of the shopping and leisure offer in this region, where no other similar development exists.

With a Gross Lettable Area (GLA) of 30,500 m2, 8ª Avenida will make available a complete and wide-range offer of a total of 130 shops, including the 13 pre-existing in the current Modelo Shopping Centre. The development will feature a total of 12 large dimension shops, of which we highlight a Modelo supermarket, 5 Castelo Lopes cinemas, and SportZone, Worten, Modalfa and C&A shops. The offer is completed by 19 restaurants and 99 shops which will host several prestigious brands, such as Bershka, Pull & Bear, Kiddy's Class, Stradivarius, Women' Secret, Springfield, Pré Natal, Lanidor, Zippy, United Colors of Benetton, Livraria Bertrand, Multiópticas, among others. In the restaurant area, Pizza Hut, Pan's & company, Burger King, Loja das Sopas e Brasa Rio will be represented.

Also important is the fact that up to date a total of 19 shops had been let to local S. João da Madeira tenants.

Located  in  an  area  of  about  300,000  inhabitants,  in  a  20  minute  catchment  area,  the  8ª Avenida  will  serve  a  far  more  numerous  population,  since  it  will  attract  people  from  the surrounding  counties,  which  boast  an  important  industrial  area,  and  therefore  expect  a population growth in the coming years. The shopping and leisure centre is expected to have 5.7 million visits and estimate sales of  €50 million in the first complete year of operation, excluding the hypermarket sales.

The architectural theme of this new shopping and leisure centre, designed by Sonae Sierra's team,  lead  by  architect  José  Quintela,  and  Laguarda.Low,  is  based  S.  João  da  Madeira's regional  codes  -  the  fashion  industry,  thus  establishing  an  emotional  attachment  with  the local community.

Built on a 27.620 m2 site, the new shopping and leisure centre is located in one of the most important avenues of S. João da Madeira, Avenida Renato Araújo, and is served by several access roads, including the E-1 (through EN227) and IC1 (through EN227), besides the A1 and the IC2, two of the main roads of the country's northern region. The parking lot of the new shopping and leisure centre will be free of charge, with capacity for 1,700 cars.

According to  Álvaro  Portela,  Sonae  Sierra's  CEO, "With  the  opening  of 8ªAvenida,  we reinforce our position as leaders of the Portuguese market, and we raise our offer to a total of 20 shopping and leisure centre under operation in the country. We believe that the opening to  the  public,  on  the  27th  of  September,  will  be  an  enormous  success,  and  will  aid  the development  of  the  S.João  da  Madeira  region,  thanks  to  the  1,000  new  jobs  and  to  the commercial and leisure offer created".

Construction of 8ªAvenida with environmental certification 

Certified,  in  the  construction  stage,  by  the  ISO 14001  environmental  standard,  the 8ª Avenida,  abides  to  the  most  rigorous  and  demanding  quality  standards  imposed  by  Sonae Sierra  in  all  its  developments,  namely  in  terms  of  comfort,  safety  and  environmental protection.

The certification, issued by Loyd`s Register Quality Association  (LRQA), is the result of the implementation  of  the  best  environmental  practices  throughout  the  construction  stage, defined  in  the  scope  of  Sonae  Sierra's  Environmental  Management  System,  which  has  the purpose of minimizing environmental impacts and promote the continuous improvement of the  performance  in  this  area,  in  accordance  with  Sonae  Sierra's  corporate  responsibility policy.

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 1,7 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, its centres welcomed more than 402 million visits.