CpiFim

Board/Management Information • May 25, 2012

Press Release

Paris May 25, 2012

Orco Property Group

The board of directors is pleased to welcome two new board members, David Ummels of Astin Capital Management Ltd. and Benjamin Colas with support from MTone.

Astin and MTone are former Orco Germany bondholders who have recently exchanged their bonds for Orco Property Group shares and OCA. This change in the board composition reflects the change in Orco's new shareholding structure.

"We welcome the fact that certain Orco Germany bondholders who have become Orco Property Group shareholders have decided to further commit to the Company over the long term by joining the board" stated Jean-François Ott, Orco's President & CEO.

To allow the appointment of Mr. Ummels and Mr. Colas through the cooptation by the board, two board members, Ott & Co., S.A. and Ales Vobruba have decided today to resign from the Orco Property Group board. The board thanked them for their decision and validated the cooptation.

Ott & Co. is the personal holding company of Jean-François Ott. In his individual capacity, Mr. Ott maintains membership and presidency of the board. Mr. Vobruba is Orco's Deputy CEO and Managing Director of Orco in Central Europe.

Tomorrow, Orco will be convening an ordinary general meeting for 28 June during which time the shareholders will have the possibility to confirm and elect the coopted Board members, Mr. Ummels and Mr. Colas.

For more information, visit our shareholder corner on www.orcogroup.com