Paris, Amsterdam, November 19, 2012 Press Release Net share settled bonds convertible into new and/or existing shares (ORNANE) issued in April 2009 Ticker: FR0010751396 Early redemption of all bonds

(article 4.9.3 of the Issue Contract approved by the Autorité des Marchés Financiers through visa no.09-104 dated April 21, 2009)

ORNANE Holders Conversion Right - Calendar

In accordance with article 4.16.2 ("Conversion events") of the Issue Contract, each ORNANE holder may exercise their Conversion Right from November 16, 2012 and until the fourteenth Trading Day (excluded) preceding the date of early redemption (i.e until December 5, 2012 inclusive1).

ORNANE holders may exercise their Conversion Right by giving their instructions to the financial intermediary responsible for the management of their bonds between November 16, 2012 and December 5, 2012 inclusive.

Euronext Paris announced on November 16, 2012, the bonds will be delisted from Euronext Paris on

December 27, 2012.

About Unibail-Rodamco

Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €275. billion on June 30, 2012. As an integrated operator, investor and developer, the Group aims to cover the whole of the real estate value creation chain. With the support of its 1,500 professionals, Unibail- Rodamco applies those skills to highly specialised market segments such as the large shopping centres of major European capital cities, and large offices and convention & exhibition centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental, economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC40, AEX and EuroStoxx 50 indexes. It benefits from an A rating from Standard & Poor's and
Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com.

For further information, please contact: Investor Relations

Fabrice Mouchel Paul Douay

+33 1 53 43 73 03 +33 1 76 77 57 40

Media Relations

Camille Delomez

+33 1 76 77 57 94

1 instead of December 7, 2012 as announced in the notice published on the BALO n°138 dated November 16,

2012. A corrected notice will be published on the BALO n°140 dated November 21, 2012.

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