IN & ABOUT THE CITY CENTER 02 03

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Visitors Official Business and delegations Columbeanu, Turbocim; Colombian Vice-President Chief executive Adrian Wyatt, Michael Aniftos and Kyriazi Dr. Fransisco Santos Calderon deputy chief executive Nick Anghelopoulos, area managers, with ambassador Rida Mariette Shattock and finance director Pafilia property developers, Al Jure Salamé; Montenegro Rebecca Worthington, Quintain Cyprus; 10 members of Friedrich 06 spatial planning & environment Estates, with Buddy Soubra from Naumann Foundation for Liberty; minister Branimir Gvozdenovic, Merchant Bridge, UK; UK Trade chefs Davide Bisetto, Italy, Alain with tourism development and Investment country manager Reix and Dominique Bouchet, project coordinator Rade Karen Neal; Le Gray Hotel France. Ljumovic, foreign affairs director general manager Hector de Professionals and academics for consular affairs Zeljko Galard with a delegation; Fnac Architects Richard Rogers, UK; Stamatovic and honorary consul president-CEO Christophe Shigeru Ban, Japan; Henri general Marwan Paul Kebbe; Cuvillier with secretary general Rivière, Alain Moatti Architecture, Brazilian ambassador Paulo Didier Couerbe, international France; 12 architecture students, Roberto Tarrisse da Fontoura; franchise manager Edouard University of Technology Sydney, Canadian ambassador Martial Cassignol and SCC international Australia; 40 MBA students, Pagé; Turkish ambassador retail development Melanie Wharton University, US. 01. Richard Rogers with Solidere Serdar Kilic; Saudi ambassador Robert; Mary Gray, chairperson, Chairman Nasser Chammaa Media in Paris Mohamad Al Sheikh with Amideast board of directors, US; 02. Serdar Kilic with Vice- Editor Georgika Aeby-Demeter, Saudi official Saoud Al Malki; Aurélie Boisselet from Groupe Chairman Maher Beydoun Exclusif magazine, Switzerland; 03,05,06. Ambassadors Al Sheikh, Mayor Lambros Tapinos and Setec, France; Blackpearl Laurent de Saint Périer, Terra Fontura, Pagé with AR Solh councilor Anthony Helou, Romania, chief executive officer 04,07. Ambassador Al Jure Nueva Match special reports for Moreland, Australia. Ali Chemais and communication Salamé and vice-president Paris Match, France. director Prince Michael de Calderon; Wharton delegation, with Mounir Douaidy Laufenbourg, president Irinel

Copyright 2009 © Solidere The Lebanese Company for the Development and Reconstruction of Central District s.a.l. POBox 119493 Beirut 2012 7305 Tel 961 1 980650 - 980660 Fax 961 1 980661 - 980662 [email protected] www.solidere.com 07 BUSINESS & FINANCIAL NEWS

Development news Annual general meeting Board of directors Dividend distribution A total of 389 projects, representing close to Held on July 13, 2009, Solidere’s annual general meeting, presided over by The elected board of directors The dividend distribution 3 million sq m of built-up area, are in various chairman Nasser Chammaa and attended by the board of directors: met on July 13, 2009 after the relating to fiscal year stages of development in Beirut city center. Approved the audited financial statements for the year 2008; taking note annual general meeting, and 2008 took effect starting Projects BUA sq m Status of accumulated profits and of the US$183,629,205 net income of the year, took the following resolutions: September 28, 2009, in resolved to transfer 10% of net income to retained earnings, and distribute accordance with the annual 247 1,040,401 Completed Elected Mr. Nasser Chammaa US$176,479,956 in the form of US$1.15 per share held, as per the general meeting resolution. 47 524,461 Under construction as chairman and general shareholders’ register at the general meeting date, with distribution to take 10 30,188 Under restoration manager for the duration of A dividend of US$1.15 effect as of September 28, 2009. his mandate. (US$1.09 after deducting the 24 240,838 Under permitting Gave the chairman and members of the board of directors the authorizations compulsory 5% tax on profit 39 639,476 Under study Respectively elected Messrs. stipulated in Articles 158 and 159 of the Lebanese commercial code and distributions) was distributed 13 472,778 Sold plots Fadi Boustany and Maher ratified the agreements signed with the Company. Beydoun as vice-chairmen, for each share held, as per 9 21,377 On hold Cleared the chairman and members of the board of directors of any liability and Raphael Sabbagha as the Shareholders’ register at 389 2,969,519 Total for matters relating to the Company management in 2008. secretary-general. the general meeting date. 01,02. Port Street perspectives showing Elected Messrs. Nasser Chammaa, Maher Beydoun, Sami Nahas, Joseph Upon the chairman’s The total dividend distribution Foch 94, Fochville and Foch Residence Asseily, Bassile Yared, Fadi Boustany, Sarkis Demirjian, Fouad El Khazen, recommendation, Mr. Mounir amounts to US$176,479,956, 03. Wafic Sinno Avenue perspective showing calculated on the number of Hilton Hotel, Avenue du Parc, Park View, Raphael Sabbagha, Maher Daouk and Abdulhafiz Mansour as members of the Douaidy was reappointed as Four Seasons Hotel and Marina Tower board of directors for a period of three years ending on the date of the annual general manager for the outstanding shares with the general meeting held to approve the financial statements of the year 2011. duration of the board’s exception of the balance of treasury shares held by the Appointed Ernst & Young and Deloitte & Touche as auditors for a period of mandate. Company. three years ending on the date of the annual general meeting held to approve the financial statements for the year 2011.

Share performance during the 3rd quarter 2009 02 Solidere shares traded within a narrow band throughout Share A - Daily Closing Prices Volume the quarter, as political 406,091 uncertainty kept most market 01 $29 400,000 participants on the sidelines. Having traded at a discount $27 300,000 from the shares, the GDRs closed the quarter on a $25 200,000 positive note, after adjusting $23 100,000 to trade closely with the underlying share. $21 0 The Company fundamentals 1 Jul 09 30 Jul 09 28 Aug 09 30 Sep 09 kept the shares strong, however trading volume remained subdued. Share A fluctuated between a low of Trading activity decreased Share B - Daily Closing Prices Volume US$22.54 and a high of during the quarter, with US$26.93, closing at around 9.5 million shares $29 400,000 US$25.13, a 0.94% decrease of both classes traded in the compared to the previous local market, 18% less than $27 300,000 quarter. Share B traded in the previous quarter. $25 200,000 between a low of US$22.66 The GDRs traded in the and a high of US$26.75, London Stock Exchange $23 100,000 closing the quarter at followed the locally traded US$25.14, a 0.39% increase shares, closing the quarter $21 0 over the previous quarter. at around US$25.1, a 4.8% 1 Jul 09 30 Jul 09 28 Aug 09 30 Sep 09 increase compared to the previous quarter closing level. 03 Share price (US dollars) Trading volume THE ART OF SHOPPING

Newcomers Retail Restaurants Atelier Sola Design Baguette, café Berluti Cremeria Vienna, Boutique 1 café Brioni Fairuz Envy Lebneniyet Gelco Taten café Instruments Garage Léticia Business/ services Lucia Bella Banque Libano- Nolita Française Smart Gift, Al Amal pharmacy International Harb pharmacy Sophie’s Choice Stun, Ed Hardy Talaco Taten Toy Watch Vintage Story Vitra

Fairs, markets, etc. Openings Biel Bokja boutique Joaillerie Liban, July 20-24 Jadis boutique Salon du Luxe, September 27-30. Me Long Time Liner Sabine Mazloum Other Selection gallery Afkart, art and crafts, July 1-5 Starch second edition Morrocan handicraft village, Saifi tennis court, July 23 – August 3 Art Summer 2009, Aishti festival Opening soon including art, books and design, Akaber Moutrane Street, July 15-19. Ayyam Gallery Baldinini Cat’s Dior Emme Griffes Houchaime La Martina Lancel Limited Edition Natuzzi Nawbar jewelry Pollini Viviane Debbas CULTURAL AND SPIRITUAL

Spiritual & festive activities Operation Antioche, 4th edition of the Christian choir, Saifi Village, July 8-12 Nouriya Chapel blessing: archbishop Elias Audi led the prayers for the chapel inauguration, August 14 Sikkar Nabet, Ramadan lounge, off Foch Street, near Biel, August 29 – September 24 Children’s story telling through the Holy month of Ramadan, Al Omari Mosque Eid El Fitr prayers and celebrations.

Beirut Book Capital 2009 From the alphabet to the Nahda Virgin Megastore aims at reviving Beirut’s heritage Last Chance, The Middle East in through cultural and social the Balance, booksigning by activities. A joint St Joseph David Gardner, July 23. University - ALBA project, it was launched on July 22 at Orient Institut, with photos, lectures and a tour of the historic Zokak El Blatt quarter.

Exhibitions Alwane Save the environment Contemporary Lebanese artists, Environment awareness Basbous, Chafic Abboud, Amin photographs organized by Bacha and Zeina Assi, members of the Green Party, July 1 – October 30. September 11-13. Pièce Unique Ceramic Lounge Lina Younis Talih, paintings, Le réseau des arts, an exhibition July 2-11 by students from Ghassan Opera Gallery collection, 19th Yammine, September 11-18. and 20th century European master artists, July 15-31 The road to illusion, photography by Jay Styranka, August 5-15. Aida Cherfan Collective exhibition by Lebanese and international artists, July 1 – September 31. Maqam art gallery Rediscovering Vera Yeramian, paintings, drawings and sculptures, August – September. FRANCOPHONE GAMES

Solidarity and Sustainable Development was the theme of the Sixth Francophone Games, held in Beirut from September 26 – October 6, which involved international participants, athletes and artists, from 70 countries. Franco-Foire Beyrouth 2009 provided a preview, July 10-12. Village des Partenaires was the focus of cultural events which stretched throughout the duration of the Games. Together with street performances, events in the city center also included: The Waves, interactive installation by Thierry Kunzel, France, City Center Dome. Creanumerica, digital photo exhibition by Alexandre Castonguay and Andreads Rutkauskas, Pièce Unique. Closing ceremony for the Games in Biel, October 6.

Village des Partenaires Lectures and round tables Plays, screenings and concerts Creanumerica Sports as factor of peace Classical concert by Union Sautez, Jump, an interactive between people Libanaise-Suisse space with visitors filmed and Sports, environment and Mektoub Cyrano, play by Aziz edited versions screened in the sustainable development Hellal evening. Recreational goods and services: Concert by Zeid Hamdan Exhibitions stakes in business and business Stand up comedy by Yass, Fleurs photovoltaïques, negotiations. preceeded by Nasser Zerkoune Alexandre Dang, Belgium Crafts Concert by Belgian singer and delegation An area dedicated to artisans composer Derek Sein Beyrouth in postcards, a historic from several Francophone Repetition, interactive projection, collection by Charbel Matta, countries including Lebanon. Vaceslav Druta. Lebanon Performances Photographs representing water Home, movie by Yann Arthus- by Pascal Cornier, France Bertrand Reflexion, photographs, Hungary Le Prophète, by Khalil Gebran, Cyprus archeological sites, performed by French and photographs Lebanese artists Collection Monaco Autrement, Qui Sera Champion, quiz, Franck Doat, Monaco. animated by Julien Lepers. MUSIC & SHOWS

Biel David Guetta, July 18 Mamma Mia on Ice Show, July 23 – August 8 Pussycat Dolls, July 31, Cattaneo, September 25. City Center Dome Tribute to Michael Jackson, July 10. Music Hall Galvez & the National Orchestra of Nowhereistan, CD launching and concert, July 29 AIR, Sepember 30. Mouawad museum garden Chansons et Nostalgie, Elie Rizkallah, September 16. Waterside Event Space Sacha & Digweed first joint performance in the region, organized by Mix FM. Brazilian Coffee Carnival Street parade and Samba, in collaboration with Brazilian embassy, September 23-24. IN & ABOUT THE CITY CENTER 02 03

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Visitors Official Business and delegations Columbeanu, Turbocim; Colombian Vice-President Chief executive Adrian Wyatt, Michael Aniftos and Kyriazi Dr. Fransisco Santos Calderon deputy chief executive Nick Anghelopoulos, area managers, with ambassador Rida Mariette Shattock and finance director Pafilia property developers, Al Jure Salamé; Montenegro Rebecca Worthington, Quintain Cyprus; 10 members of Friedrich 06 spatial planning & environment Estates, with Buddy Soubra from Naumann Foundation for Liberty; minister Branimir Gvozdenovic, Merchant Bridge, UK; UK Trade chefs Davide Bisetto, Italy, Alain with tourism development and Investment country manager Reix and Dominique Bouchet, project coordinator Rade Karen Neal; Le Gray Hotel France. Ljumovic, foreign affairs director general manager Hector de Professionals and academics for consular affairs Zeljko Galard with a delegation; Fnac Architects Richard Rogers, UK; Stamatovic and honorary consul president-CEO Christophe Shigeru Ban, Japan; Henri general Marwan Paul Kebbe; Cuvillier with secretary general Rivière, Alain Moatti Architecture, Brazilian ambassador Paulo Didier Couerbe, international France; 12 architecture students, Roberto Tarrisse da Fontoura; franchise manager Edouard University of Technology Sydney, Canadian ambassador Martial Cassignol and SCC international Australia; 40 MBA students, Pagé; Turkish ambassador retail development Melanie Wharton University, US. 01. Richard Rogers with Solidere Serdar Kilic; Saudi ambassador Robert; Mary Gray, chairperson, Chairman Nasser Chammaa Media in Paris Mohamad Al Sheikh with Amideast board of directors, US; 02. Serdar Kilic with Vice- Editor Georgika Aeby-Demeter, Saudi official Saoud Al Malki; Aurélie Boisselet from Groupe Chairman Maher Beydoun Exclusif magazine, Switzerland; 03,05,06. Ambassadors Al Sheikh, Mayor Lambros Tapinos and Setec, France; Blackpearl Laurent de Saint Périer, Terra Fontura, Pagé with AR Solh councilor Anthony Helou, Romania, chief executive officer 04,07. Ambassador Al Jure Nueva Match special reports for Moreland, Australia. Ali Chemais and communication Salamé and vice-president Paris Match, France. director Prince Michael de Calderon; Wharton delegation, with Mounir Douaidy Laufenbourg, president Irinel

Copyright 2009 © Solidere The Lebanese Company for the Development and Reconstruction of s.a.l. POBox 119493 Beirut 2012 7305 Lebanon Tel 961 1 980650 - 980660 Fax 961 1 980661 - 980662 [email protected] www.solidere.com 07

Phase One of Beirut Souks has been completed, with a grand opening planned towards the year end. Solidere organized a media tour on October 2, in the Souks, where a number of shops are already opened. Offering a unique experience that is different from that of a typical commercial mall, Beirut Souks are an open of the 21st century. Modern shopping and leisure opportunities are enjoyed while preserving the intricate relationships of urban market spaces within the city.