ALTAREA : Success of the €210 million share capital increaseincrease, taking to €369 million the total amount of equity raised since the beginning of 20161

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PRESS RELEASE13 June 2016, 17:35Success of the €210 million share capital increase, taking to €369 million the total amount of equity raised since the beginning of 20161 Total demand of €276 million Subscription ratio of 131%Altarea Cogedim announces today the success of its capital increase, following the subscription period ending on 3 June 2016. Total subscriptions represented 1.3 times the amount of the capital increase.

The €210 million of proceeds raised will strengthen Altarea Cogedim's equity capital and take to

€369 million the total amount of equity raised since the beginning of 20161.

The Group now has additional financial resources that will allow it to pursue development strategy, while maintaining a solid financial structure.

Alain Taravella, founding CEO of Altarea Cogedim, commented: «The success of the capital increase testifies to the support of our shareholders for the growth strategy of Altarea Cogedim. Our balanced business model, creating long term value, allows us to reiterate our objective of group share FFO increasing by 15% to 20% in 2016, as well as dividend distribution of at least

€11 for the next two years. I would like to thank our shareholders for their support and loyalty to the company and for embracing its development plan. »

Transactions Highlights

The share capital increase with preferential subscription rights ("PSR") to existing shareholders was launched on 20 May 2016 with the subscription period ending on 3 June 2016.

Gross proceeds amount to €210,423,920 and results in the issuance of 1,503,028 new shares at a price of €140.

Total demand, which amounted to €275.6 million, was greater than the targeted proceeds of

€210 million, corresponding to a subscription ratio of 131%. 1,484,329 new shares were subscribed on a basis not subject to reduction ("à titre irréductible"), representing 98.76% of the total number of new shares. The subscriptions subject to reduction ("à titre réductible")

1 Reserved share capital increase of €31.7 million as part of the purchase of Pitch Promotion, share capital increase of €126.9 million in connection with the option to pay the 2015 dividends in shares, and the rights issue of €210.4 million.

represented 484,549 new shares and will therefore only be partially served, in an amount of 18,699 new shares.

Settlement-delivery and admission to trading on Euronext Paris of the new shares will take place on 15 June 2016 on the same listing segment as the existing shares (ISIN Code FR0000033219). The news shares will entitle holders to current dividend rights.

Following the transaction, the share capital of Altarea Cogedim will be divided in 15,030,287 shares.

Morgan Stanley and Société Générale Corporate & Investment Banking acted as Global Coordinators, Lead Managers and Joint Bookrunners on the transaction.

The prospectus relating to this transaction was approved by the Autorité des Marchés Financiers (the "AMF") on 19 May 2016 under visa n°16-185. Altarea Cogedim draws the public's attention to the risk factors described in the prospectus.

Financial CalendarRelease of half-year results: Thursday 28 July post market close.About Altarea Cogedim - FR0000033219 - ALTAAltarea Cogedim is a leading property group. As both a commercial land owner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the know-how in each sector required to design, develop, commercialize and manage made-to-measure property products. With operations in France, Spain and Italy, Altarea Cogedim manages a shopping center property portfolio of €4.4 billion. Listed in compartment A of Euronext Paris, Altarea had a market capitalization of €2.2 billion at 30 May 2016 (before the capital increase).

Contacts Altarea Cogedim	Contacts Citigate Dewe Rogerson
Eric DUMAS, Chief Financial [e-mail], Tel: [phone] Catherine LEROY, Analyst and Investor [e-mail], Tel : [phone]	Nicolas CASTEX, Press [e-mail], Tel: + 33 1 53 32 78 94

Disclaimer

This press release and the information contained herein do not constitute either an offer to sell or purchase or the solicitation of an offer to sell or purchase the Company's new shares or preferential subscription rights, in any country whatsoever. In France, these new shares or preferential subscription rights may not be offered absent a prospectus approved by the AMF.

The diffusion of this press release in some jurisdictions may constitute a violation of applicable laws and regulations. People physically present in these jurisdictions in which this press release is distributed shall get informed about such restrictions and comply with them.

With respect to each Member State of the European Economic Area other than France (the "Member State") which has implemented the directive 2003/71/EC, as amended, in particular by Directive 2010/73/EU and to the extent implemented in the Member State, (the "Prospectus Directive"), no action has been undertaken or will be undertaken to make an offer to the public of new shares or preferential subscription rights requiring a publication of a prospectus in any Member State. As a result, new shares or preferential subscription rights may only be offered in Member States pursuant to an exemption under the Prospectus Directive. Securities mentioned in this press release may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Altarea Cogedim does not intend to register any

portion of the planned offer in the United States of America or to conduct a public offering of securities in the United States of America.

This press release does not contain or constitute an invitation, inducement or solicitation to invest in the United Kingdom. This press release is directed only at and is for distribution only to persons who (i) are outside the United Kingdom, (ii) are "investment professionals" falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order"), (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Order or (iv) are other persons to whom an invitation or inducement to engage in investment activity (within the meaning of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons in (i), (ii), (iii) and (iv) together being referred to as "Relevant Persons"). Any investment or investment activity to which this press release relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

This press release may not be published, distributed or diffused, directly or indirectly, in the United States of America, Canada, Australia, or Japan.