Multiplan Cm 20090901 En

PRESS RELEASE STANDARD & POOR’S RAISES THE CORPORATE CREDIT RATING OF MULTIPLAN

MULTIPLAN EMPREENDIMENTOS IMOBILIÁRIOS S.A. (BM&F BOVESPA S.A.: MULT3), headquartered at Av. das Américas n.º 4.200 - Bloco 2, sala 501, Barra da Tijuca, city and state of Rio de Janeiro, enrolled with the Taxpayer Registration (CNPJ/MF) under n. 07.816.890/0001-53, hereby announces that, Standard & Poor’s revaluated its corporate credit ratings for Multiplan, raising from brAA- to brAA on the Brazilian National Scale, and from BB to BB+ on the global scale with stable perspective. Rio de Janeiro, September 1st, 2009.

Armando d’Almeida Neto Vice President and Investor Relations Officer

Multiplan is the leading shopping center company in Brazil in terms of revenue, in addition to developing, owning and managing one of the largest and highest-quality mall portfolios with 34 years of experience in the sector. The company also has strategic operations in the residential and commercial real estate development sectors, generating synergies for mall-related operations and adjacent owned land destined for mixed-use projects. On June 30th 2009, Multiplan owned – with an average interest of 68.2% - and managed 12 shopping centers totaling a GLA of 484,873 m², 3,026 stores, and an estimated annual traffic of 146 million consumers. This has ranked the company among the largest shopping center operators in Brazil according to the Brazilian Shopping Centers Association (ABRASCE). Seeking to control and exercise its management excellence, Multiplan owns controlling positions in 10 out of the 12 shopping centers in its portfolio and currently manages all operating shopping centers in which it has an ownership interest.