Update from Blackstone and Ivanhoé Cambridge

Pursuant to a credit facility agreement originally entered into on May 7 2006, a group of institutions (the "Lenders") granted loans to the Spanish companies Alteco Gestion y Promocion de Marcas, S.L and Mag-Import, S.L (the "Borrowers"), secured against the Gecina shares which the Borrowers own.

Blackstone and Ivanhoé Cambridge, acting in concert, announce that they hold, indirectly through jointly-held affiliates, a 64.7% interest in those loans made to the Borrowers.

About Blackstone

Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter@Blackstone.

About Ivanhoé Cambridge

Ivanhoé Cambridge is a world-class real estate company that leverages its high-level expertise in all aspects of real estate including investment, development, asset management and building operations. Through its multiple subsidiaries, it holds assets in more than 20 countries valued at over Cdn$30 billion as at December 31, 2011. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (www.cdpq.com), one of Canada's leading institutional fund managers. For more information, visit www.ivanhoecambridge.com.