Paris - September 24th, 2009  -  The Bondholders’  General Meeting has rejected  the  restructuration  of  the  bonds indebtedness proposed by the Group after weeks of discussions with representatives of bondholders.

Individual consultations with Bondholders will now be organized in coordination with Me  Le  Guerneve  and Me Leloup-Thomas, respectively Trustee (Administrateur Judiciaire) and Creditor’s  Representative (Mandataire Judiciaire) appointed  by the  Commercial  Court  of  Paris.

Orco Property Group’s Management will propose an alternative Plan that Me Leloup-Thomas will   then transmit   to  all  creditors for consultation knowing that the Court will  have full power to decide on a term out of all liabilities over a maximum period of 10 years.

Hence, the Administrateur Judiciaire is requesting the prorogation of the observation period to continue benefiting from the sauveguarde procedure.

For more information, visit our Shareholders corner on http://www.orcogroup.com/, or contact:
Nicolas Tommasini +33 1 40 67 67 23 or at investors@orcogroup.com