Paris, Schiphol, February 5, 2010

PRESS RELEASE

Unibail-Rodamco to acquire Simon Ivanhoe's portfolio in Europe

Unibail-Rodamco anuncia que ha cerrado un acuerdo para adquirir Simon Ivanhoé, filial europea de Simon Property Group y de Ivanhoé Cambridge, que posee una cartera de participaciones en 7 centros comerciales en Francia y Polonia.

En el marco de esta transacción, Unibail-Rodamco Unibail-Rodamco adquiere asimismo los proyectos de desarrollo de Simon Ivanhoé a través de joint-ventures en las que Simon Property Group e Ivanhoé Cambridge conservarán una participación del 50%. Estos proyectos ascienden a un número de 5 y afectan a centros comerciales situados en Francia, entre los cuales, Les Portes de Gascogne en Toulouse, que ha recibido las autorizaciones administrativas necesarias. Unibail-Rodamco desarrollará estos 5 proyectos por cuenta de la joint-venture.

Unibail-Rodamco has agreed to pay the Simon Property Group and Ivanhoe Cambridge E715 million for the assets (excluding transfer and transaction costs), subject to customary post-closing adjustments. The transaction is expected to close during the first half of 2010, subject to customary closing conditions and antitrust approval. Unibail-Rodamco will fund the acquisition from existing bank facilities.

Guillaume Poitrinal, Chairman of the Management Board and CEO of Unibail-Rodamco, said: "This transaction represents a unique opportunity to reinforce further our presence in the large Shopping Centre segment, in French and Polish capital cities. These assets and the development projects offer excellent growth prospects and we are pleased and honoured to be partnering with Simon Property Group and Ivanhoe Cambridge in those developments."

The largest asset in the portfolio is Arkadia which complements Unibail-Rodamco's existing portfolio in Warsaw, Poland. The Arkadia shopping centre opened its doors in October 2004 and is currently among the largest shopping centres in Central Europe, with a total retail area of 103,128 m².

Centres in operation (total GLA including other co-owners):

- Arkadia / Warsaw (Poland) 103,128 m²

- Wilenska Station / Warsaw (Poland) 35,400 m²

- Bay 1/ Bay 2 / Marne la Vallée (France) 86,002 m²

- Bel'Est / Bagnolet (France) 27,117 m²

- Villabé A6 / Corbeil (France) 26,410 m²

- Wasquehal / Wasquehal (France) 23,614 m²

Development projects:

- Les Portes de Gascogne / Toulouse (France)

- Les Terrasses de Poncy / Poissy (France)

- Le Cannet (France)

- Mandelieu - La Napoule (France)

- Saint Geours de Maremne (France)

About Unibail-Rodamco

Unibail-Rodamco is Europe's leading listed commercial property operator, investor and developer. It is present in 12 countries across the continent. Its portfolio of shopping centres, offices and convention-exhibition venues was valued at E22.8 billion on June 30, 2009. Its 1,700 employees create value for its shareholders by investing in and developing outstanding assets, then managing them to exceed its customers' expectations. The Group's success is founded on its ability to build strong relationships with tenants and communities and create attractive, welcoming living places for people to work, shop, relax and do business. The Group is rated A/A3 and listed on the CAC 40, AEX, Euronext 100 indexes and will be included in the DJ EURO Stoxx 50 index, from February 8, 2010. Unibail-Rodamco's commitment to environmental, economic and social sustainability has been recognised with listings in the DJSI (World) and FTSE4Good indexes.

For more information, please visit our website: www.unibail-rodamco.com

For further information, please contact:

Media Relations	Investor Relations
Maxence Naouri	Karine Renaison
+33 (0)1 53 43 75 47	+33 (0)1 53 43 72 89

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