CpiFim

Report Publication Announcement • May 24, 2012

Press Release

24 May 2012

Orco Property Group – Q1 2012 financial information and audited 2011 reports

First Quarter financial highlights

• Quarter on quarter revenues stable at 33 Million
• Q1 operating result at EUR 7 Million
• Q1 net profit at EUR 3 Million vs. a net loss of 4 Million
• Expected full year revenues between EUR 160 and 180 Million
• Post bonds' restructuring NAV estimated at EUR 5.8 per share and LTV at 56%

You will find the complete document on our website on www.orcogroup.com