ORCO PROPERTY GROUP SCOOPS HIGHLY PRESTIGIOUS PROPERTY AWARD FOR POLAND’S ZLOTA 44

Libeskind-Designed Project Wins Recognition in Four Major Categories

(July 3, 2008) -- Orco Property Group is delighted to announce that it has been recognized by the CNBC Europe & Africa Property Awards 2008 for the categories of Architecture, Redevelopment, High-Rise Architecture and High-Rise Development for its flagship investment in Poland - Zlota 44. The awards will be presented at a glittering gala dinner in the Sheraton Park Lane Hotel, London on September 27th.

The fact that Orco Property Group earned these coveted awards is a clear indication of Poland’s increasing importance within the highly competitive European & African property markets. Having received this high recommendation by its peers, the company is now entitled to display the CNBC Europe & Africa Property Awards’ logo with pride. This symbol of excellence is recognized and appreciated by the public who are becoming increasingly well informed and discerning about the properties they seek to buy.

Entries were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards. Chaired by Eric Pickles, British Shadow Secretary of State, this year’s judges included Helen Shield, editor-in-chief of International Homes magazine; Peter Bolton King, chief executive of the National Association of Estate Agents; Phil Spencer, property expert and presenter of Channel 4’s Location and Relocation TV shows; Imtiaz Farookhi, chief executive of the National House Building Council; Christopher Hall, past president of the National Association of Estate Agents; Thijis Staff, International Consortium of Real Estate Agents Association (ICREA); Alejandro Escurdero, SIMA; Kirkor Ajderhanyan, French Real Estate Federation (FNAIM); Graham Norwood of the Daily Mail; David Hoppit, property writer; Jill Keene, editor of International Homes magazine; Diana Yakely, chairman British Interior Design Association; and Tad Zurlinden, Association of Relocation Professionals.

Jean-Claude Moustacakis, Zlota 44 Project Director said of the award, “I am delighted that Orco Property Group obtained this prestigious award for Zlota 44 in all four categories we participated in. I am convinced that this ground-breaking apartment tower, designed by renowned architect Daniel Libeskind, will change the skyline of Warsaw and positively influence the development of the centre of Poland’s capital city. The joint success of Orco and Libeskind teams has been confirmed by the project’s great popularity among clients followed by great commercial success. We are proud that this spectacular project also found recognition among international property authorities. This award proofs that thanks to the project’s outstanding and unique design, Zlota 44 will put Warsaw on the world's architectural map.”

    
CONTACT:     Orco Property Group:  Alicja Ko?ciesza
                     +48 22 595 49 00, +48 601 803 604
                     akosciesza@orcogroup.com

                     Studio Daniel Libeskind:  Lynn Krogh
                     (212) 497-9114; (917) 378-9302
                     PublicRelations@daniel-libeskind.com