CpiFim — Major Shareholding Notification 2012

May 25, 2012

Press Release

Paris, 25 May 2012

Orco Property Group Shareholding notification

Orco Property Group (the "Company") has been notified by email received on 22 May 2012 that:

Credit Suisse Securities (Europe) Ltd has crossed the threshold of 2.5% of the total voting rights of the Company.

As of 14 May 2012, Credit Suisse Securities (Europe) Ltd directly holds 1,487,941 shares of the Company (ISIN Code LU0772552906), entitling it to 4.2% of the total voting rights of the Company.

The shares were acquired on 14 May 2012 within the framework of the Company's capital increase as a first payment on the "Obligations Convertibles en Actions" (ISIN XS0741974009) issued by the Company on 9 May 2012 against the contribution of approximately 84.5% of the Orco Germany bonds (ISIN XS0302623953).

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