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Pre-Annual General Meeting Information • Mar 24, 2010

Paris, March 24, 2010

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR INTO ANY OTHER JURISDICTION IN WHICH CIRCULATION OF THE PRESENT PRESS RELEASE WOULD BE RESTRICTED BY LAW.

2014 Warrantholders General Meetings to be held on March 25, 2010

Orco Property Group S.A. convened a General meeting of the 2014 Warrantholders set to vote on two resolutions relative to amendments of the terms and conditions of the Warrants 2014.

The Board of Directors of Orco Property Group held today has decided to withdraw the second resolution of the agenda, so that the General meeting of the 2014 Warrantholders to be held on March 25, 2010 shall only vote on the first item of its agenda, which has been made public.

The Board of Directors reserves however the possibility to convene another General meeting of the 2014 Warrantholders in order to vote upon an amended version of the second resolution, in due time.

Warrants 2014: ISIN Code: XS0290764728

For further information on these meetings, please consult the convening notices available on Orco's website www.orcogroup.com, or contact: Nicolas Tommasini, Tel: +33 1 40 67 67 00, ntommasini@orcogroup.com.