Orco Property Group and Colony Capital enter into exclusive
negotiations on a reserved share capital increase

29 April 2009 – Orco Property Group SA (OPG), a major property company focused
on Central Europe, announced that its Board of Directors has entered into
exclusive negotiations with Colony Capital with a view to proceeding with a
share capital increase reserved for ColOG, a company controlled by funds
advised by Colony Capital.

ColOG is considering, in partnership with Jean-François Ott, founder and CEO of
Orco Property Group, to reinforce OPG’s equity by €25 million by the end
of the
second quarter 2009 and by an additional amount of up to €140 million at the
end of the Safeguard Procedure (Procédure de Sauvegarde) opened by the Paris
Commercial Court (Tribunal de Commerce) on March 25, 2009.

These negotiations are being undertaken in the context of the management’s
financial and operational restructuring plan and also aim at allowing the
company to continue, under the best conditions, certain property developments
adapted to such plan.

After a due diligence period, ColOG would be entitled to subscribe, at the
latest on June 22, 2009, to a reserved €25 million share capital increase. Orco

Property Group would issue 5 million shares with share warrants, at a
subscription price per share of €5.

Four share warrants would be attached to each new share allowing ColOG to
acquire 20,000,000 new shares at a subscription price of €7 per share. These
share warrants would be exercisable at the end of the Safeguard Procedure.

Furthermore, the Board of Directors of Orco Property Group has proposed that
all OPG shareholders be granted one free share warrant for two OPG shares,
entitling shareholders to subscribe to one new share at the same subscription
price as the share warrants issued to ColOG.

Mr. Le Guerneve, the court administrator appointed by Paris Commercial Court on
March 25, 2009, has been informed of this negotiation.

Press contacts:
Orco Property Group
Marion Bougeard, EURO RSCG C&O: +33 1 58 47 95 19

Colony Capital
Anne-France MALRIEU, Image Sept : +33 1 53 70 74 66

kroovka dla fatso w upominku po promocji wczorajszej

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