Bucharest, 8th of November 2007

In the cities of Ploiesti and Craiova

Sonae Sierra will develop two new shopping and leisure centres in Romania

• First developments built from the greenfield by Sonae Sierra in Romania
• An investment of about €153,6 million (in Ploiesti) and €139,4 million (in Craiova)
• Inaugurations scheduled for 2009 (Craiova) and 2010 (Ploiesti)
• Sonae Sierra already owns and manages River Plaza Mall, located in the city of Ramnicu Valcea

Sonae Sierra has just acquired two sites in the Romanian cities of Ploiesti and Craiova, where it will develop two new shopping and leisure centres, the first the company will develop in Romania, for a total investment of more than €293 million.

Ploiesti, an excellent location

Built on a  16 hectares site, in the southern limit of the city of Ploiesti, the ninth most populated in Romania, 60 kilometres north of Bucharest, the future centre has a privileged location  with  more  than  270,000  inhabitants  in  a  15  minute  catchment  area,  and  will benefit from excellent access, namely through the new highway connecting Bucharest to Ploiesti, currently under construction.

This  innovative  shopping  and  leisure  centre  will  have  a  Gross  Lettable  Area  (GLA)  of 64,070  m2 and a parking lot for  3,200 vehicles, for a total investment of about  €153.6 million, and will integrate a  100 hectares area which will be urbanized throughout the next  six  years,  and  will  include  housing,  office  and  service  buildings,  schools,  sports facilities, public gardens, among other equipments.

The  development  plan for  this new Sonae Sierra venture projects the beginning of the construction work in 2008, and the inauguration in 2010.

Craiova, a central project

In Craiova, Romania's sixth largest city, located  240 kilometres west of Bucharest, the new shopping and leisure centre will have a Gross Lettable Area  (GLA) of  55.537 m2, a parking lot for 1833 vehicles, and will represent an investment of €139,4 million.

To  develop  this  project,  Sonae  Sierra  has  acquired  a  6  hectare  site  with  an  excellent location, five minutes away by car from the city centre, with 300,000 inhabitants in a 30 minute catchment area. The construction of the shopping centre is already under way, and the inauguration will take place in the Fall of 2009. For this project, Sonae Sierra had attorneys  Nestor  Nestor  Diculescu  Kingston  Petersen  (NNDKP)  and  Eurisko  Real  Estate consultants.

Sonae Sierra reinforces this way its presence in the Romanian market, where it arrived last May with the acquisition of River Plaza Mall, a shopping centre with  12,358 m2 of GLA, located in the city of Ramnicu Valcea, in the south-western region of the country, which had been inaugurated in November 2006.

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 and  1 Retail Park 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  13  more  projects  in Portugal, Spain, Italy, Germany, Greece, Romania and Brazil, with a total GLA of more than 500.000 m2. In 2006, its centres welcomed more than 402 million visits.