CpiFim — Capital/Financing Update 2012

Apr 13, 2012

Press Release

Paris, 13 April 2012

FURTHER DETAILS RELA RELATING TO THE OPG BOND EQUITIZATION TERM SH SHEET

On 10 April 2012, Orco Property Group., S.A. (" with an ad-hoc committee of principal amount of the bonds issued by OPG, for the restructuring of the five tranches of OPG bonds totaling EUR 411 million in aggregate under OPG's Safeguard Plan (the " OPG") announced the signing of a hoc bondholders representing approximately one restructuring aggregate principal amount and EUR 549 million in total repayments due OPG Bonds"). a binding term sheet approximately one-third of the aggregate

The binding term sheet provides that the ratio for the exchange of OPG Bonds for new OPG shares shall be defined pro rata to the allocation of account possible rounding differences. the EUR 549 million repayments to each tranche ncipal EUR OPG each tranche, taking into

The total repayments due under the Safeguard Plan follows: were allocated by the Commercial Court of Paris ere Commercial Paris as

• EUR 63.2 million for the issued by OPG on 18 November 2005 (ISIN EUR 50,272,605.30 in aggregate principal amount FR0010249599); amount of OBSAR 1 bonds
• EUR 16.0 million for the CZK 300,000,000 OPG on 3 February 2006 (ISIN 300,000,000 in outstanding principal amount of CZ0000000195); Czech bonds issued by
• EUR 28.9 million for the EUR for Suncani Hvar shares issued by OPG on 30 June 2005 EUR 24,169,193.39 in aggregate principal amount (ISIN XS0223586420); amount of bonds exchangeable
• EUR 212.3 million for the issued by OPG on 1 June 2006 (ISIN EUR 149,999,928 in aggregate principal amount FR0010333302); and amount of convertible bonds
• EUR 228.1 million for the issued by OPG on 28 March 2007 EUR 175,000,461.60 in aggregate principal amount 2007 (ISIN XS0291838992 / XS0291840626). principal amount of OBSAR 2 bonds

For more information, please write to investors@orcogroup.com.