CPI PROPERTY GROUP obtains merger clearance for acquisition of retail portfolio from funds managed by CBRE Global Investors

CPI PROPERTY GROUP (société anonyme) 40, rue de la Vallée L-2661 Luxembourg R.C.S. Luxembourg: B 102 254

PRESS RELEASE Luxembourg, 15 February 2017

CPI PROPERTY GROUP obtains merger clearance for acquisition of retail portfolio from funds managed by CBRE Global Investors

CPI Property Group (the "Company" and together with its subsidiaries as the "Group") announces that the Czech Office for the Protection of Competition and the Hungarian Competition Authority granted to the Group the merger clearances concerning the acquisition of retail portfolio located in the Czech Republic, Hungary, Poland and Romania (the "Portfolio") from two funds managed by CBRE Global Investors. The merger clearances granted by the Hungarian and Czech competition authorities became final and binding on 13 February 2017 and 14 February 2017 respectively.

The Portfolio with a total leasable area of approximately 265 thousand sqm comprises of predominantly 11 shopping centres. The closing of the transaction is anticipated to occur in March 2017. For more details please refer to the Company's press release of 16 January 2017.

For further information please contact:

Kirchhoff Consult AG Andrew Stammler Herrengraben 1 20459 Hamburg T +49 40 60 91 86 34 F +49 40 60 91 86 60 E andrew.stammler@kirchhoff.de