www.cencosud.com

CENCOSUD Opens Stores in Brazil & Chile

Santiago, Chile, October 30, 2014 - CENCOSUD (NYSE: CNCO; BCS: CENCOSUD) a leading South American retailer with operations in Chile, Argentina, Brazil, Peru and Colombia, today announced the opening of one GBarbosa Supermarket in Brazil and two Santa Isabel in Chile.

CENCOSUD is pleased to announce the opening of a new GBarbosa Supermarket on October 29, 2014, in the Brazilian city of Fortaleza in the northeastern state

2

of Ceara. The GBarbosa store has 2,357 m
of selling
space. On October 29 the company additionally opened two Santa Isabel stores in the Chilean city of Santiago. The new locations have selling space of
1,517 m2 and 1,244 m2. With these openings Santa Isabel comes to operate 187 stores. Cencosud has successfully added 20 locations this year.

About CENCOSUD

CENCOSUD is a leading multi-brand retailer in South America, headquartered in Chile and with operations in Chile, Brazil, Argentina, Peru and Colombia. The company operates in supermarkets, home improvement, shopping centers and department stores, always aiming to deliver the right product at the right price to Latin America's growing middle class. In 2012 the company listed American Depositary Receipts (ADRs) on the New York

Stock Exchange.

Investor Relations

Marisol Fernández León

IR Manager

Phone +562 2959 0545

mariasoledad.fernandez@cencosud.cl

Natalia Nacif

IR Senior Analyst

Phone +562 2959 0368

natalia.nacif@cencosud.cl

Ignacio Reyes

IR Senior Analyst

Phone +562 2959 0804

Ignacio.reyesmiranda@cencosud.cl

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