Cencosud plans to open over a hundred new stores and three shopping centers

Cencosud announces its capex 2012 of USD 1,285 million for organic growth

• According with this capex Cencosud expects revenues of USD 18 bill for the year

2012

• Of the total investment, USD 660 million will be for the retail area, and a 86% of that will remain in the supermarket division

Santiago, February 10, 2012.- With the focus placed on the opening of new stores and shopping centers, Cencosud defined its investment plan for 2012, which reached almost USD 1.3 bill.

Of the total capex this year, USD 660 million will be invested on the retail sector, being the Supermarket division which leads the 86% of this, followed by the Home Improvement division and Department Stores with a 9% and 5%, respectively.
In Chile, total capex plan is USD 413 million, including 33 new stores and the opening of two new Shopping Centers (Costanera Center and Portal Osorno).
For Brazil, is estimated a total investment of USD 198 million, which includes the opening of 26 new stores.
In Peru, the total investments planned reach USD 119 million, which includes the opening of 15 new supermarkets and the development of a new Shopping Center.
For Argentina, the plan estimates approximately USD 147 million, for 27 new stores. The capex for the operation in Colombia is USD 3 million, to open 1 new Easy store.
In addition, during the year 2012, we will continue to work in the standardization of processes of the operations of Cencosud in all countries and businesses in which we operate, on technological platforms uniforms and centralized. For this matter, the company will invest USD 106 million on IT.
In addition, Cencosud plans to invest in the year 2012 USD 299 million for the purchase of new lands and also recurring investments.
With this aggressive investment plan Cencosud plans to generate total revenues of about USD 18 bill in the year 2012, with EBITDA of roughly USD 1,580 million, which results in an EBITDA margin target estimated in the order of 8.8%.

Forward Looking Statements

This release includes declarations on future events, which include statements with respect to our plans, strategies, beliefs and other statements that are not historical facts. These statements are based on assumptions of our management and beliefs in the light of the

information currently available to them. These assumptions include information relating to us, industries and countries in which we operate.

Cencosud S.A. is one of the largest Latin American retailer, with presence in Argentina, Brazil, Chile, Colombia and Peru. As of September 2011 owns 47 hypermarkets, 611 supermarkets, 81 home improvement stores, 25 shopping centers, 35 Paris department stores, giving direct employment to more than 130,000 people.

IR Contact Marisol Fernández (56-2) 959 0545

mariasoledad.fernandez@cencosud.cl

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