Market value of the IGD Group’s real estate portfolio*

*CB Richard Ellis’s independent appraisal

The market value of IGD’s real estate portfolio has increased consistently over time.

This increase reflects a number of factors: the significant increase in real estate prices recorded through the end of 2007, the commercial success of the existing centers and IGD’s rapid investment process while maintaining a top quality portfolio.

At 30.6.2010 IGD’s properties include:

in Italy

• 17 hypermarkets and supermarkets
• 16 malls
• 4 direct development projects
• 1 asset held for trading
• 1 asset nearing completion
• 6 smaller properties
• 3 shopping centers through RGD, jv at 50%

in Romania

• 15 shopping malls
• 1 office building