Altarea

Capital/Financing Update • Jan 7, 2013

PRESS RELEASE

January 7, 2013, 6:00 pm

Altarea Cogedim increases and diversify its financing with the issuance of 250 million euro bonds

In December 2012, Altarea Cogedim issued a total of 250 million euros in bonds through two operations:

• 100 million euros in 5-year unsecured bonds, issued December 21, 2012, at a fixed rate of 3.65%¹ ,
• 150 million euros through an unsecured 7-year private placement, issued December 28, 2012, at a fixed rate of 3.97%.

The average maturity of these financings amounts to 6.2 years, at an average fixed rate of 3.84%.

These operations come in addition to the 280 million euros already raised during the course of 2012 with the Group's usual banks. They bring total corporate financing in 2012 to 530 million euros.

The Group also initiated a restructuring of its hedging instruments, aligned with market conditions over the next two years.

The Group is thus ahead of its refinancing policy, corporate debt maturing in 2013 being largely covered.

Contacts

Eric Dumas Financial Director +33 (0)1 44 95 51 42 edumas@altareacogedim.com Catherine Leroy Analyst and Investor Relations +33 (0)1 56 26 24 87 / +33 (0)6 45 14 76 51 cleroy@altareacogedim.com

Nathalie Bardin Communication Director +33 (0)1 56 26 25 36 / +33 (0)6 85 26 15 29 nbardin@altareacogedim.com

¹ The prospectus is available on the website of the French financial markets authority, the Autorité des Marchés Financiers (www.amf-france.org).

About Altarea Cogedim

Altarea Cogedim is a leading property group. As both a commercial land owner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the required know-how in each sector to design, develop, commercialize and manage made-to-measure property products. By acquiring Rue du Commerce, a leader in e-commerce in France, Altarea Cogedim became the first multi-channel property company. With operations in France, Spain and Italy, Altarea Cogedim has a shopping center portfolio of €2.5 billion. Listed on section A of NYSE Euronext Paris, Altarea today has a market capitalization of €1.3 billion.