León, Spain, October 22nd 2007

The 47th shopping and leisure centre owned by the company

Sonae Sierra and the Mall Group inaugurate El Rosal in Ponferrada

• An investment of 111 million euros, which creates 1400 jobs
• El Rosal features 147 shops in 49.500 m2 of GLA 
• 7 million visits expected in the first year
• Certified construction and access

Sierra and the Mall Group have inaugurated today shopping and leisure centre El Rosal,  located  in  Ponferrada,  in  the  Spanish  province  of  Léon,  a  development  that represents  an  investment  of €111  million,  which  will  open  its  doors  to  the  public tomorrow, October 23rd.

Developed by the partnership between Sonae Sierra  (70%) e and the Mall Group  (30%), this new shopping and leisure centre is the 47th owned by Sonae Sierra. It generates 1400 new jobs, and is expected to welcome 7 million visits and reach a sales volume of €110 million in its first year of activity.

El  Rosal  is  now  the  main  commercial  reference  in  the  region  of  El  Bierzo,  with  a catchment area of 178 thousand people, and it makes available a complete commercial offer on its  147 shops, distributed in a Gross Lettable Area  (GLA) of  49.500 m2, 93% of which is already let.

Álvaro Portela, Sonae Sierra's CEO, highlighted "the special pride felt with the opening of El Rosal", underlining that  "this project broadens Sonae Sierra's already significant presence  in  the  Spanish  market,  where  we  now  own  12  large  shopping  and  leisure centres, and it also represents a bet on a region with great potential". In conclusion: "We're certain El Rosal will become the favourite leisure destination for the inhabitants of the El Bierzo region".

Besides many of the most prestiged international brands, such as Zara, Beshka, Pull & Bear,  Oysho,  C&A,  Stradivarius,  Massimo  Dutti,  Promod,  Cortefiel,  Women's  Secret, Springfield and H&M, El Rosal also hosts 17 restaurants and 7 cinemas. We highlight the fact that 33 shops were let to local entrepreneurs.

A Green Centre

With a harmonious architecture, which combines the space with comfort and functionality, this  new  shopping  and  leisure  centre  was  decorated  in  accordance  with  the  local characteristics, with a predominance if warm and welcoming colours. "It's very important for Sonae Sierra to integrate its development with the surrounding areas, and in the case of El Rosal, that objective was completely fulfilled", explained José Quintela, Sonae Sierra's Chief Design Officer.

In accordance with the Sonae Sierra's Corporate Responsibility policy, the new shopping centre  obtained  the  ISO  14001  environmental  certification  for  the  construction  stage, which attests the finest environmental practices during the construction stage.

El  Rosal  fully  respects  the  concept  of  ‘environment-friendly  centre',  with  facilities  and equipments that allow for the saving of energy and water, the monitoring of the air quality and the recycling of waste, among other environmental benefits.

This shopping and leisure centre ensures the best access for all visitors, and with that in view, it was designed and built in accordance to the DALCO (Deambulación, Aprehensión, Localización y Comunicación) criteria, established by the UNE  17001 Global Accessibility standard,  promoted  by  ONCE  and  AENOR.  This  is  the  third  centre  to  obtain  such certification in Spain, after Luz del Tajo, in Toledo, and Plaza Éboli, in Pinto, both owned by Sonae Sierra.

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 47 Shopping Centres in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total Gross Lettable Area (GLA) of more than 1,8 million m2. Currently, Sonae Sierra is developing 11 more projects in Portugal, Spain, Germany, Greece and Brazil, with a total GLA of more than 400.000 m2. In 2006, its centres welcomed more than 402 million visits.

The Mall Group,   www.mall.es   has its headquarters in the Asturias, has been operating in the different sectors of the real estate business for more than half a century now, distinguishing itself for the originality of its projects. This company is one of the references in the business, a position conquered thanks to its unique developments,  always  set  in  privileged  areas  and  presenting  as  its  most  distinguishing  elements  design, excellence and sustainability.