FASHION HOUSE Gdansk has signed a new lease agreement with Triumph International. The 176 sq m Triumph outlet shop will be located in the second phase of the project. This is the third shop Triumph has opened within the FASHION HOUSE Development and is the latest in a long list of strong international brand names lining up to expand their outlet offer.

Neil Thompson, CEO, FASHION HOUSE Developments explains: ‘We have a wide range of newly opened stores in Gdansk, Sosnowiec, Warsaw and Bucharest which include well-known brands who know the importance of the outlet sector and the need to ensure their positioning in a successful centre with an experienced team.’

He adds: ‘The Outlet market growth is driven by prestigious international and regional brands and producers, who are seeking a new retail channels as their main high street route is hit by consumers who are trying to save some money and are afraid of spending. In the Outlet Centres consumers can shop for high quality and branded products at very affordable prices throughout whole year and the increased interest in the outlet sector shows that Europeans know a good deal and are smarter shoppers in times of recession when getting more for less money makes sense.’

Development of the second phase of Fashion House Gdansk started early in spring of this year and its opening is planned for the middle of November 2009.

FASHION HOUSE Development has three Outlet centres in Poland and one in Bucharest with a second Bucharest site in development and sites in Russia and the Ukraine in development. All of the Centres are continuing to showing remarkable growth despite the downturn including increasing footfall, sales and spend as well as new lease signings and outlet openings.

Neil Thompson adds: ‘We were the first Outlet operator in Poland and now in Romania and we will be the first in Russia and the Ukraine. We are fast becoming the leading name in the Outlet Sector in the CEE and that is a fact we are very proud of.’

For further details please contact Nancy Riach, Head of PR for Outlet Services, GVA Grimley Outlet Services on 07984 176303 or nancy.riach@gvagrimley.co.uk

Notes to Editors

FASHION HOUSE Development (FHD) is the successor to Warsaw-based The Outlet Company (TOC), which developed the market leading portfolio of successful Fashion House Outlet Centres in Poland. FHD is a partnership between several parties formerly involved in TOC (including Liebrecht & Wood and GVA Grimley Outlet Services). Following the sale of these Outlet Centres to Allied Irish Bank’s Polonia Property Fund II, FHD continues with their operational management under the FASHION HOUSE brand licence. FHD is developing a considerable pipeline of Outlet Centre projects in Romania, Russia and Ukraine, including FASHION HOUSE Bucharest and FASHION HOUSE Moscow.

FASHION HOUSE Development is the only Outlet Centre developer in Europe with a business model enabling it to work with either 100% FHD own-investor funded projects; or with FHD investors in different joint venture partnerships on new FASHION HOUSE projects; or to add value to appropriate 100% third- party owned projects, by providing the FASHION HOUSE brand under licence, incorporating the use of FHD’s renowned outlet expertise in development and management.

Together with its principal partners, Liebrecht & Wood and GVA Grimley Outlet Services, FHD offers investors and developers an Outlet-dedicated, premium quality, experienced team, expert in the fields of Outlet shopping centre design, development, finance, operation and management across Europe. Consequently, the FH brand has built up a notable following of world-famous branded retail tenants. For further information see www.fashionhouse.com

Liebrecht & Wood is a Flemish construction project developer of retail, office and logistics parks. It has been focussing on CEE, successfully developing major projects in Poland and Romania over the last 20 years including: Flanders Business Park and Kopernik Office Buildings in Warsaw, and Victoria Park, and Militari Shopping Centre in Bucharest. For further information, see: www.liebrecht-wood.com

GVA Grimley Outlet Services is the only independent, pan-European, integrated, specialist Outlet services business able to Lease, set-up, operate and market Outlet Centre schemes. GVA dominates the Central & Eastern European region, leasing or operating eight Outlet Centres for six different clients in six countries, with another six schemes in development. For more information, see: www.gvagrimley.co.uk/outletservices

Nancy Riach, Head of Public Relations, Outlet Services, GVA Grimley Ltd Mobile: +44 7984 176302 E-Mail: nancy.riach@gvagrimley.co.uk Web: http://www.gvagrimley.co.uk National Number: 08449 02 03 04 Fax:+44 141 204 1986