Klépierre — Regulatory Filings 2013

Mar 21, 2013

For immediate release

WITH THE ST. LAZARE PARIS RETAIL SPACE, KLÉPIERRE TAKES THE LEAD

Paris, March 21, 2013

ST.LAZARE PARIS, a success from day one

As soon as it opened, the new retail space at the station won visitors over with its design features and retail mix, including 80 stores and restaurants.

Average retail sales per square meter over the first twelve months reached €14 500, an exceptional performance that puts most of the retail stores at the top of their respective networks and sets a new standard for shopping centers.

The customer survey¹ conducted by Klépierre in November 2012 confirms that the station's commuters and travelers have been won over. In fact, 55% of the visitors surveyed have made at least one purchase at ST.LAZARE PARIS and the space has become a genuine destination for a significant number: nearly 20% of those surveyed said they had specifically come for the shopping mall.

"The station's commuters, travelers and visitors adopted this new retail space immediately. The exceptional performances of the retail tenants and the high level of customer satisfaction reflect the impressive success of ST.LAZARE PARIS. Practical, flexible in terms of store hours, offering quality and variety, the mall has much to offer customers, who love to stroll and window shop. This outcome is the result of our teams' expertise and the close relationships we have nurtured with the best retailers," notes Laurent Morel, Chairman of the Klépierre Executive Board. "We plan to continue to surprise and delight visitors to the station. For example, we are very happy to announce that Eric Frechon, the famous chef who has earned three Michelin star, plans to open a new space at Saint-Lazare in September 2013. While maintaining his current position as head chef at the Hotel Bristol in Paris, Mr. Frechon sees his plans for opening LAZARE as a way of democratizing fine food by making it accessible to the general public."

¹ Survey commissioned by Klépierre and conducted by SAD Marketing on a representative sample of 915 people between November 19 and 24, 2012, at the ST. LAZARE PARIS retail space

ST.LAZARE PARIS, a retail mix designed for mobile and urban consumers

The 450 000 daily commuters and travelers, employees of the surrounding offices and residents of the neighborhood have discovered a varied retail offering that is adapted to their lifestyle. Klépierre has developed a retail brand mix composed of convenience stores, familiar concepts and a new generation of retailers that bring genuine value for money, style and pricing that are perfectly aligned with the current needs of customers.

Close to the trains, travelers and commuters find numerous services that facilitate their daily lives (restaurants, print media, pharmacy, medical labs, etc.) and, on the street and subway levels, a retail mix that covers every retail segment, from personal products and food, to culture and leisure, beauty and health.

To meet their food shopping needs, visitors to ST.LAZARE PARIS can choose between Monop' and Carrefour City. Klépierre has opted to host new brand names in the retail space. Among the newcomers, the Japanese concept Muji to Go, the Danish jeweler Pandora, and the Spanish shoemaker MaryPaz among them. Pylones, a store that sells trendy, colorful items, the photo gallery and store Yellow Korner, Kusmi Tea and Kickers are among those retailers entering the shopping center environment for the first time.

Both the space and the retail mix have been designed to cater to the increasingly nomadic consumer, who is looking to transform down time into useful and pleasant time. In fact, 98%¹ of all visitors say they are happy to be able to make purchases rapidly. Customers spend an average of 22 minutes¹ in the retail space. Retailers keep long hours and seek to adapt to different needs and schedules. Daily commuters can pick up a forgotten item or make an impulse purchase, or even plan a shopping expedition during the week.

The remarkable architecture of ST.LAZARE PARIS

The historic edifice has been magnified by the major restructuring program that was carried out as part of an exemplary partnership between Gares&Connexions and Klépierre. The AREP and DGla architectural teams did a remarkable job of integrating the retail space fully into the station while respecting commuter flows.

Modern, comfortable, functional and light-filled, the new Saint-Lazare station is open and openly functional. Circulation is fluid thanks to the vertical liaisons around which the retail space is organized: four vast shafts house 25 escalators. The glass roof let the natural light penetrate all three station levels, down to the subway entrance. 96% of all customers surveyed¹ say they enjoy strolling around ST.LAZARE PARIS.

Klépierre was awarded the SIIC 2012 "Ville et Avenir" trophy, which singles out one project that has had a particular impact on the quality of urban life for recognition. The panel of judges praised the retail space for its exemplarity. The renovation of the Saint-Lazare station also won an award the "2012 Janus du Commerce" and the accessibility award. ST.LAZARE PARIS is also nominated for the European Awards of the International Council of Shopping Centers.

______________________________________________________________________________ ¹ Survey commissioned by Klépierre and conducted by SAD Marketing on a representative sample of 915 people between November 19 and 24, 2012, at the ST. LAZARE PARIS retail space

ST.LAZARE PARIS
Floor area	10 000 sq.m. of retail
Number of stores	80 units, including  3 mid-sized units  13 restaurant outlets with food court  10 newsstands, bookstores and/or tobacco shops
Parking	250 spots
Long and convenient hours	 7:30 am – 8:00 pm, Monday-Friday and 9:00 am – 8:00 pm on Saturday  Virgin Megastore 7:00 am – 9:00 pm Monday-Saturday  Carrefour City 7:00 am – 10:00 pm, Monday-Saturday and Sunday morning  Monop' 7:30 am – 10:00 pm, Monday-Saturday
Daily traffic	450,000 travelers and around 1 million visitors, all means of transportation combined
Total investment	160 million euros
Financial occupancy rate (retail spaces)	98%

ABOUT ST.LAZARE PARIS

Ideally located in the heart of one of the largest business and retail neighborhoods of Paris, ST.LAZARE PARIS features 80 shops of witch smaller stores, services and restaurants, plus parking for 250 passenger vehicles. Situated in an exceptional architectural setting, the retail complex covers 10 000 sq.m. GLA and is totally integrated over the three levels of the station (train, street and subway). The gateway to one of Europe's most thriving retail neighborhoods, Saint-Lazare is Europe's second-largest station, with 450 000 travelers a day passing through, most of them commuters to and from Paris and its suburbs. Klépierre won an SIIC "Ville et Avenir" award in 2012 for ST.LAZARE PARIS, for the exemplary way in which the space is integrated into Saint-Lazare train station. For more information, visit the website: www.stlazareparis.com

ABOUT KLEPIERRE

A leading player in retail real estate in Europe, Klépierre combines development, rental, property and asset management skills. Its portfolio is valued at 16.4 billion euros on December 31, 2012 and essentially comprises large shopping centers in 13 countries of Continental Europe.

Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia's number one shopping center owner and manager. Klépierre's largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.9%), the number one bank in the Euro zone.

Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes. Klépierre is also included in several ethical indexes - DJSI World, FTSE4Good, ASPI Euro Zone – and is a member of both Ethibel Excellence and Ethibel Pioneer investment registers. These distinctions mark the Group's commitment to a voluntary sustainable development policy.

For more information, visit the website: www.klepierre.com

MEDIA CONTACTS

Ketchum agency

Elise MOUROCQ – + 33 (0)1 53 32 61 81 – elisemourocq@ketchum.fr Aurélie CHAMBON – +33 (0)1 53 32 56 88 – aurelie.chambon@ketchum.fr