TIDMATLS 
 
ATLAS ESTATES LIMITED 
(Registered in Guernsey - Number 44284) 
 
Registered Office: 
Martello Court, Admiral Park, St Peter Port, Guernsey, GY1 3HB 
__________________________ 
 
TELEPHONE: +44 1481 211000 
FACSIMILE: +44 1481 211001 
 
e-mail: fundcosec@intertrustgroup.com 
 
For immediate release 8 October 2010 
 
     Update on sale of Slovakian portfolio and breach of banking covenant 
 
Atlas Estates Limited (the "Company") has experienced continuing delays in its 
efforts to complete the sale of its Slovakian property portfolio, as previously 
announced. 
 
The Board of Directors of the Company announces that the sale of two of the 
three investments in the Slovakian portfolio has now been completed, however, 
the sale and purchase of Circle Slovakia s.r.o. the company which holds the 
investment in Bratislava known as Nove Vajnory which forms part of the 
abovementioned portfolio, had not been completed as of 5 October 2010. Atlas's 
officers have not been made aware of any change in the intention of the 
parties, and negotiations are continuing, although at the current stage the 
final outcome of such negotiations, including its timing, cannot be determined. 
 
At the same time the Board of Directors announces that the non-completion of 
the abovementioned transaction triggers the default of the loan granted to the 
Circle Slovakia s.r.o. by Investkredit Bank AG with its seat in Vienna. 
 
In the event of any claims against the Company or its subsidiaries or in the 
event of the Company or its subsidiaries suffering any damages, as a result of 
non-completion of the abovementioned transaction the Company will consider 
taking legal actions against the relevant parties. 
 
A further announcement will be made in due course. 
 
Legal basis: Article 56 section 1 of the Polish Act on Public Offering, the 
Conditions Governing the Introduction of Financial Instruments to Organized 
Trading, and Public Companies of 29 July 2005. 
 
End - 
 
Further information, please contact: 
 
Atlas Management Company Limited           Tel: +44 (0) 207 245 8672 
 
Reuven Havar/ Rabinovitz Lior 
 
Intertrust Fund Services (Guernsey)        Tel: +44 (0) 1481 211 000 
Limited 
 
Company Secretary 
 
Fairfax I.S. PLC                           Tel: +44 (0) 20 7598 5368 
 
David Floyd 
 
 
 
END
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