Aliansce Presents Its Results and Financial and Operating Highlights for 2Q10

RIO DE JANEIRO, Aug. 12 /PRNewswire-FirstCall/ -- Aliansce Shopping Centers S.A. (Bovespa: ALSC3), one of the largest shopping mall owners and administrators in Brazil, announces today its results for the second quarter of 2010.

2Q10 Highlights and Recent Events:

• Sales in the Company's shopping malls grew by 24.2% in 2Q10, while same-area sales (SAS) and same-store sales (SSS) increased 9.3% and 10.0%, respectively.
• Net income grew by 134.4% from the same period of 2009, reaching R$16.3 million.
• Gross revenue increased 31.7% in 2Q10 to R$52.1 million.
• In 2Q10, NOI posted growth of 32.7% to R$40.2 million, versus R$30.3 million in 2Q09, while NOI margin stood at 90.4%.
• Adjusted EBITDA grew by 23.3% in relation to 2Q09 to R$31.1 million, while adjusted EBITDA margin stood at 64.0%;
• Adjusted FFO grew by 65.8% to R$33.8 million, from R$20.3 million in 2Q09. Adjusted FFO margin was 69.6% in 2Q10.
• The malls occupancy rate stood at 98.1%, excluding Shopping Santa Ursula, which is being redeveloped, and Boulevard Shopping Brasilia, which is in its leasing phase.
• In 2Q10, investments in greenfield projects and mall expansions totaled R$48.2 million. Boulevard Shopping Belo Horizonte, which already has 87% of its GLA leased, remains on schedule, with the mall's opening expected in October 2010 and the keys delivered to tenants at the end of July so they can begin works and preparations. Shopping Maceio advanced in the project detailing phase, with launch expected for 4Q10.
• On July 13, 2010, the Company announced an agreement to develop the mall Parque Shopping Belem in Belem, Para. The project has GLA of approximately 23,000 sqm and 170 stores. Aliansce will hold a 50% interest and be responsible for planning, leasing and management. We are already under negotiations with key anchors and mega stores and the mall will be launched on August 19.
• On July 27, 2010, the Company acquired an additional fraction of 2.06% in Super Shopping Osasco. With this acquisition, Aliansce now holds a 33.5% interest in the center and added 363.4 sqm of own GLA to its portfolio.

Full Earnings Release is available on Aliansce's IR website: http://www.aliansce.com.br/ir

Aliansce will be hosting conference calls to discuss 2Q10 Results on Friday, August 13, 2010 at 9:00 a.m. ET (Portuguese) and 11:00 a.m. ET (English). Please see the Company's IR website for connecting numbers.

SOURCE Aliansce Shopping Centers S.A.

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