Paris, Schiphol, February 5, 2010

PRESS RELEASE

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

Unibail-Rodamco ha annunciato di aver stipulato un accordo che prevede l'acquisizione di Simon Ivanhoe, controllata europea del Gruppo Simon Property e di Ivanhoe Cambridge, detenente un portafoglio di partecipazioni in 7 centri commerciali in Francia e in Polonia.

Unibail-Rodamco ha inoltre stipulato un accordo di joint venture in base al quale il Gruppo Simon Property e Ivanhoe Cambridge manterranno congiuntamente il 50% delle partecipazioni di Simon Ivanhoe in 5 progetti di sviluppo retail in Francia, tra cui Les Portes de Gascogne a Tolosa, che ha conseguito le autorizzazioni necessarie. Lo sviluppo di questi cinque progetti per conto della joint venture ? stato affidato a Unibail-Rodamco.

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 m?.

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

- Arkadia / Warsaw (Poland) 103,128 m?

- Wilenska Station / Warsaw (Poland) 35,400 m?

- Bay 1/ Bay 2 / Marne la Vall?e (France) 86,002 m?

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

- Villab? A6 / Corbeil (France) 26,410 m?

- Wasquehal / Wasquehal (France) 23,614 m?

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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