Zlote Tarasy retail center to open 7 February 2007 (PL)

Zlote Tarasy Sp. z o.o. has announced that the retail part of the Zlote Tarasy complex in Warsaw will open on the 7th of February 2007. This reveals from a press release that ING Real Estate distributed on Monday, November 27th, 2006.

Zlote Tarasy provides approximately 63,500 m² of retail space which is fully let. The retail center will feature over 200 stores and service units. Of the rentable floor area approximately 4,500 m² will be food and beverage making it the largest concentration of restaurants, cafes and bars in the City of Warsaw.

Marcel Kooij, Managing Director of Zlote Tarasy Sp.z.o.o, said: "We are very happy with the announcement of the opening date of the retail part of the Zlote Tarasy complex. We believe the set date gives our tenants sufficient time to complete the fit-out of their retail units. We have been able to fix the opening date thanks to a combined effort together with Skanska, the general contractor, and all co-operating partners to solve the outstanding issues. We are now progressing rapidly towards the successful completion of the Zlote Tarasy retail center."

In a press release that Rodamco Europe distributed on Tuesday, November 28th, 2006, the company states that at this stage ING Real Estate can not deliver to Rodamco Europe its 50% of the shares in the project due to the fact that ING Real Estate is not yet in possession of 100% of the shares in the Zlote Tarasy project.

Earlier, on November 13, 2006, Rodamco Europe announced uncertainties regarding the timing of the opening and delivery of the Zlote Tarasy project. Rodamco is currently studying its position and the consequences of this situation.

Company Profile ING Real Estate
ING Real Estate is a global real estate company active in investment management, development and finance. With a total business portfolio of EUR 79 billion and offices in 21 countries in Europe, America, Asia and Australia, ING Real Estate ranks among the world's strongest real estate companies. ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries.

Company Profile Rodamco Europe
Rodamco Europe with headquarters in Rotterdam, the Netherlands, is both investor and manager of its dominant shopping centers in its home regions The Netherlands & Belgium, the Nordic countries, France, Spain and Central Europe. Top quality shops and shopping centers form 94% of Rodamco Europe's €10.0 billion property assets. This makes Rodamco Europe the largest listed property investment and management company in the retail sector in Europe. Rodamco Europe is listed on the Stock Exchanges in Amsterdam, Paris, Frankfurt and Brussels. A Euronext 100 company, Rodamco Europe is included in the Euronext AEX Index (AEX) and in the MSCI World Index.

Sources: ING Real Estate & Rodamco Europe

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