Opening of Costanera Center Towers

Santiago, May 17, 2013.- In response to the information published by a media outlet stating that Cencosud would be attempting to avoid carrying out the necessary road works for the opening of the Costanera Towers, the company wishes to clarify the following:

1. Cencosud is working closely with the corresponding authorities, including the Municipality of Providencia, the Secretariat of Transportation Planning (Sectra), the Ministry of Transportation (Seremitt), the Traffic Control Operating Unit (UOCT), and Transantiago, among others, to define the best alternative for a Par Vial (road reconfiguration) and other mitigation works to be implemented, in order to optimize the current traffic situation in the area.

2. Once these works have been defined and approved by the relevant authorities, Cencosud will announce the schedule for reception, commissioning, and opening of the Costanera Tower. The company expects this to occur in the coming months.

3. Similar to the opening phase of the Costanera Center shopping mall, Cencosud will carry out all the road mitigation works outlined in the Traffic Impact Study and Urban Development Plan (EISTU) that pertain to the opening phase of the Costanera Tower. We remain committed to finding solutions that provide significant traffic improvements in the area.

4. Cencosud is actively working with potential tenants of the Towers to deliver the highest standard of offices and services available in the country.