GTC and Polnord signed a joint venture agreement

• GTC and Polnord to jointly develop a modern mall in Warsaw

• The shopping centre will be constructed on a 7.5 hectare site in Wilanów

• The opening of the mall is planned for 2013

Globe Trade Centre S.A. (GTC) and Polnord S.A. (Polnord) signed today a set of agreements pursuant to which each of them will become an owner of 50% of shares in a SPV, which will own 7.5 ha of land in Wilanów district of Warsaw.

In March 2010 GTC and Polnord agreed main terms of this transaction and signed a Letter of Intent.

GTC and Polnord will develop a modern shopping and entertainment centre on the plot, that is currently owned by Polnord.

The mall is planned to comprise approx. 60 000 sqm of net retail space. The construction of the mall in Wilanów is expected to start within next 12 months, after obtaining a building permit. The total cost of investment, including land, is estimated at EUR170m.

The primary catchment area of the mall includes the most affluent housing districts of Warsaw such as Wilanów and Sadyba, as well as prestigious resort area in Konstancin.

“I am very pleased to see that GTC and Polnord have been acting like partners from the very beginning of our negotiations and I am confident that together we will successfully develop a landmark shopping facility in Warsaw” – said Eli Alroy, the Chairman of GTC Supervisory Board.

GTC will have a leading role in the development and management of the project with a full support of Polnord. The value of the mall upon completion is estimated at EUR 250m.

GTC was the developer of Galeria Mokotów in Warsaw – the first and the most prestigious shopping centre in Poland. In Kraków GTC developed Galeria Kazimierz and in October 2009 the company opened Galeria Jurajska in Częstochowa. GTC owns Avenue Mall in Zagreb and three small-size shopping centres in Romania. GTC has also shopping malls under various stages of development in Czech Republic, Romania , Bulgaria and Croatia.

Polnord is one of the most experienced companies in the construction and developer market in Poland, listed on the WSE. It commenced business activity its in 1977 as an export general contractor. Today Polnord is active in residential, office, hotel and retail sectors. The total land bank of the company comprises 1 million sqm of building rights.

“I’m very satisfied that Polnord and GTC signed this agreement. Such retail development will significantly increase the standard of living for residents of Miasteczko Wilanow. It will also positively impact the local labour market, creating new jobs” – said Ryszard Krauze, the Chairman of Polnord Supervisory Board. ”GTC is a renowned and reputable partner. We hope that conclusion of this agreement will lead to potential co-operation of our firms in further new projects.”

The final closing of the transaction is subject to antimonopoly approval and fulfillment of other conditions.

GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.

GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential sector.

GTC has developed about 750 000 sqm of net space and currently is the owner of completed commercial property with a combined net area of about 455 000 sqm. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.8 million sqm of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s assets are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index which comprises the 250 biggest and most liquid real estate companies of the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.

GTC launches the construction of Platinium Business Park IV

• GTC S.A hired Warbud as the general contractor for the 4th Platinium Business Park building

• The building is scheduled to be finished by the end of May next year

Globe Trade Centre S.A. (GTC) has obtained the permit for the expansion of the Platinium Business Park in Warsaw by constructing the 4th building. The main contractor for this Project will be Warbud, who has already commenced preparatory works at the construction site. The new building will provide 26,000 sq m of total area. The construction is scheduled to be finished by 30 May 2011.

GTC has obtained the permit for the construction of the fourth building of the Platinium Business Park complex in Warsaw. Warbud, who was responsible for the construction of the earlier stages of the project, has been appointed as the main contractor. The contract totals approx. EUR 16 mil.

The fourth building of the Platinium Business Park complex will be facing Domaniewska street. Total area of the building will amount to 26,000 sq m, with a net rentable area of 12,000 sq m. As was the case with the third stage of the project, the new office block has been designed by the Grupa 5 architectural office. The investment is scheduled to be completed by 30 May 2011.

„The Platinium Business Park complex meets all the requirements that are usually voiced by large tenants who seek a high quality office space with good communication, rich service background and a possibility to expand and develop within one office complex” – says Mariusz Kozłowski, Member of Management at GTC S.A

Platinium Business Park is a modern office complex located in Warsaw by the intersection of Domaniewska street and Wołoska street. In its final shape, Platinium Business Park will comprise six buildings, providing a total area of 70,600 sq m of modern office space. Since 2007, the complex has remained one of the most popular office centres in Warsaw. Almost 100% of space in the three buildings that have been completed so far is already rented. The tenants are drawn by high quality of the architecture, modern technical solutions and a high standard of finishing work. Non-business elements of Platinium Business Park are valued highly as well. The surroundings of the buildings – a harmonious blend of water and green areas – makes it easier to relax and maintain positive relationships with co-workers. The complex as a whole constitutes an inspiring, creative workplace.

GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.

GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential sector.

GTC has developed about 750 000 sqm of net space and currently is the owner of completed commercial property with a combined net area of about 455 000 sqm. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.8 million sqm of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s assets are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index which comprises the 250 biggest and most liquid real estate companies of the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.

GTC publishes Q1 2010 results

• Rental income increased to EUR 30.6m (+42% y-o-y)

• Gross margin from operations was EUR 24.6m (+15% y-o-y)

• GTC maintained high liquidity at the end of Q1 2010

Globe Trade Centre S.A. (GTC S.A.) achieved a strong increase in income from rental operations in Q1 2010. Newly completed buildings in 2009 were the main contributors to the rental growth. The company maintained a good rental operations margin (78%) as a result of stabilization of the newly completed projects.

Revenues from residential sales declined to EUR 6.5m (from EUR 23.7m in Q1 2009) due to the lower number of new residential units being completed and handed over, as part of the typical business cycle in those projects. GTC’s strategy provides for reducing its exposure to the residential sector and focusing on office and retail development.

Operating profit in Q1 2010 was EUR 18.5m (vs EUR 33.1m in Q1 2009), as the company did not record any revaluation gains in 2010. Profit after tax for the period was EUR 4m (vs EUR 4.4m in Q1 2009).

GTC continues its expansion in the retail sector. The company has agreed the terms of a joint venture with Polnord S.A. for development of a modern shopping mall in Wilanów, one of the most affluent residential districts of Warsaw. GTC is to hold a 50% stake in the project. The final joint venture agreement is expected to be concluded by the end of May 2010.

Recently GTC seized the opportunity to consolidate its retail assets in Romania and increased its 50% stakes in mid-size shopping centres (in the cities of Buzău, Suceava and Piatra Neamţ) to approximately 70%.

GTC’s shopping mall under construction in Croatia—Avenue Mall Osijek—received a EUR 40m financing package from the EBRD, which includes a 20% equity investment and a loan syndicated with Raiffeisen Zentralbank.

GTC’s strategy of recycling capital provides for selective disposal of its assets. GTC benefits from increased demand for high-quality property in Poland. In May 2010 the company signed a letter of intent with an international investor for sale of two of its office buildings in Warsaw: Nefryt and Topaz, with a total area of approx 27,000 sqm. The transaction would further improve GTC’s liquidity position and its financial ratios. Final execution of the transaction is subject to due diligence and approvals of statutory authorities of both the buyer and the seller, and is scheduled for the end of June 2010.

The agreed value of the transaction reflects a price of about EUR 3,000 per net sqm and yields of 7.0-7.2% on current income.

GTC’s resilient performance during the crisis and its ability to develop top-quality assets won recognition from the leading real estate professionals in the region. In the 7th edition of the CEE Real Estate Quality Awards, Globe Trade Centre S.A. was voted Developer of the Year, while City Gate in Bucharest won the prize for Best Office Building of the Year and for Best Overall Development.

GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.

GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential sector.

GTC has developed about 750 000 sqm of net space and currently is the owner of completed commercial property with a combined net area of about 455 000 sqm. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.8 million sqm of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s assets are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index which comprises the 250 biggest and most liquid real estate companies of the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.

GTC selling prime office assets in Poland

• GTC agreed main terms of sale of Topaz and Nefryt office buildings in Warsaw

• Letter of Intent was signed with international real estate investor

Globe Trade Centre S.A. (GTC S.A.) signed a Letter of Intent with an international investor for sale of its two office buildings in Warsaw: Nefryt and Topaz.

Nefryt and Topaz are prime office assets located in the heart of Mokotów – the largest business district in Poland, next to Galeria Mokotów shopping centre.

The buildings stand out for its award-winning architectural design, technical specifications, as well as quality of its tenants such as Roche, Allianz, Noble Bank, Cisco Systems, Motorola and Honeywell among the others. The total rentable space of the building is approx 27,000 sqm.

The final execution of the transaction is subject to due diligence and approvals of statutory organs of both the buyer and the seller and is scheduled for the end of June 2010.

The agreed value of the transaction reflects the price of approx 3000 EUR per net sqm and the yields of 7.0-7.2% on a current income.

GLOBE TRADE CENTRE S.A. (GTC S.A.) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.

GTC develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential sector.

GTC has developed about 750 000 sqm of net space and currently is the owner of completed commercial property with a combined net area of about 455 000 sqm. GTC also holds an impressive portfolio of investment at various stages of development which will facilitate the construction of 1.8 million sqm of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company’s assets are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index which comprises the 250 biggest and most liquid real estate companies of the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.

IBM renews lease with GTC for another 5 years

• GTC has signed a lease extension with IBM for the Galileo building in Cracow

• IBM’s offices at Galileo cover 5,300 sq m of space

• New lease concluded for another 5 years

Globe Trade Centre S.A. (GTC) and IBM have agreed to extend IBM’s lease of space in the Galileo office building in Cracow, where IBM Business Consulting Services occupies 5,300 sq m. The prior lease was signed in 2005.

IBM leases a total of over 14,500 sq m of space at the GTC Office Center at ul. Armii Krajowej, including 5,300 sq m in the Galileo building used by a branch ofIBM Business Consulting Services. Other IBM units operating in Cracow are headquartered in the neighbouring Newton and Edison buildings.

IBM Business Consulting Services provides business advisory covering client relationship management, finance, supply chain management and human resources. It specializes in strategic advice and consulting on new technologies and systems implementation, as well as business process outsourcing.

“GTC has great experience in creating high-standard office space for international corporations,” said Piotr Kroenke, General Manager of GTC S.A. “Thanks to longstanding relationships with renowned tenants, we know their needs and can adapt our office buildings to fully match the highest global standards. We are proud that after our 5 years of cooperation with such a large and demanding client as IBM, we continue to enjoy their confidence and that they have decided to renew their lease with us.”

Galileo is an 11-storey Class A office tower with a total lease area of 10,300 sq m, delivered to the market in 2003. In addition to IBM Business Consulting Services, office tenants include Raiffeisen Bank Polska, KPMG, Grupa Lotos and Cetelem. The Newton and Edison buildings also serve as headquarters for such prominent Polish and international firms as Deloitte, Ahold and Hewitt.

The GTC Office Center, with a total lease area of 31,000 sq m, is conveniently located between central Cracow and the international airport at Balice.

Cracow is one of the key cities for GTC’s business in Poland. Other projects GTC has built there include Kazimierz Office Center and the shopping mall Galeria Kazimierz. It is currently developing the Pascal building (5,250 sq m of lease space), which will be the culmination of the office complex at ul. Armii Krajowej.

GLOBE TRADE CENTRE S.A. (GTC S.A) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in 10 countries: Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Bulgaria, Slovakia, Ukraine and Russia.

GTC develops projects in three key real estate sectors: office buildings, retail and entertainment centres, and residential.

GTC has developed about 750,000 sq m of net space and currently is the owner of completed commercial properties with a combined net area of about 455,000 sq m. GTC also holds an impressive portfolio of new investments at various stages of development, which will facilitate the construction of 1.8 million sq m of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange in the prestigious WIG20 index. The company’s shares are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index, which comprises the 250 biggest and most liquid real estate companies in the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.

First GTC office building in Katowice opening soon

• First stage of Francuska Office Center to be completed in May

• GTC signed a lease in April with Nordea Bank

• More deals to be finalised shortly

Globe Trade Centre S.A. (GTC S.A.) signed a lease with Nordea Bank Polska S.A. for space at Francuska Office Center in Katowice. The bank, a member of the largest financial group in Scandinavia, has rented 500 sq m in the first building of the complex. The building is to be delivered to tenants in May.

Nordea Bank Polska S.A. has been present on the Polish banking market since 1999. The Nordea Bank location at Francuska Office Center will occupy 500 sq m.

Francuska Office Center is being built in central Katowice, at ul. Francuska 34. The first building in the complex offers a lease area of 11,000 sq m. The GTC project is an important element of the new business and service district that is developing in Katowice. The headquarters of many key institutions are located in the immediate vicinity of Francuska Office Center – local government, the regional court, and prominent Polish and international companies.

“Francuska Office Center is an excellent proposition for any firms seeking to establish a modern office in the capital of Upper Silesia,” said Katarzyna Pankiewicz, Director of Office Space at GTC S.A. “The smallest lease area is 100 sq m, which makes prestigious GTC offices accessible to small companies as well as large ones.”

Ultimately Francuska Office Center will include two six-storey Class A office buildings with a total rental area of over 21,500 sq m. The second building will be finished as the available space in the building is progressively leased. One of the strengths of the complex is the ability to develop a flexible arrangement of the plans for each floor, which can be used by one or more tenants in an open space plan or with individual offices. The area of a typical floor in Building A is 1,740 sq m. The complex will come fully equipped, with air conditioning, state-of-the-art telecommunications systems, professional security, suspended ceilings and tilt windows.

Francuska Office Center is located adjacent to public transit stops. The project is convenient for motorists (with direct access from ul. Francuska) and easily accessible for travellers on the A4 motorway and national route 86 linking Warsaw and Bielsko-Biała. Katowice International Airport, at Pyrzowice, is about a 25-minute drive. The underground parking garage at the complex offers spaces for about 400 vehicles.

Francuska Office Center was designed by the renowned Polish architectural studio APA Wojciechowski in cooperation with the Katowice office of Stabil. The project features high-quality finishing. The glass façades are trimmed with light stone, giving the complex an attractive appearance and providing excellent access to natural light in the interiors.

The last finishing touches are underway at the first building at Francuska Office Center, along with roadwork around the development. Construction will be finished in May 2010.

GTC is conducting advanced negotiations for lease of the remaining space at Francuska Office Center.

GLOBE TRADE CENTRE S.A. (GTC S.A) is one of the leading developers in the New Europe and was established in 1994 in Warsaw. Currently it operates in 10 countries: Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Bulgaria, Slovakia, Ukraine and Russia.

GTC develops projects in three key real estate sectors: office buildings, retail and entertainment centres, and residential.

GTC has developed about 750,000 sq m of net space and currently is the owner of completed commercial properties with a combined net area of about 455,000 sq m. GTC also holds an impressive portfolio of new investments at various stages of development, which will facilitate the construction of 1.8 million sq m of commercial and residential space. GTC’s total assets exceed EUR 2.6 billion.

GTC’s shares are listed on the Warsaw Stock Exchange in the prestigious WIG20 index. The company’s shares are also included in the international MSCI index and Dow Jones STOXX Eastern Europe 300 index, as well as the GPR250 index, which comprises the 250 biggest and most liquid real estate companies in the world. Among GTC’s shareholders are many of the biggest Polish and international institutional investors.