Unibail-Rodamco: Adhering to Afep-Medef's recommendations on theremuneration of executive officers of listed companies

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announcement. 
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In its ordinary  meeting of 10  October 2008, Unibail-Rodamco  S.A.'s
Supervisory  Board  considered  Afep-Medef's  recommendations  of   6
October 2008  on the  remuneration of  executive officers  of  listed
companies.
 
The Supervisory Board  observed that nearly  all the  recommendations
were already  applied in  the  Company, in  line with  the  corporate
governance principles followed for numerous years.  In conclusion  to
its  deliberations,  the  Supervisory  Board  agreed  to  apply   the
Afep-Medef  recommendations,  without  exception,  with  full  effect
starting 31 December 2008 and asked the Management Board to take  all
the necessary steps.
 
The application of Afep-Medef's recommendations will be monitored and
evaluated annually  by the  Governance, Nomination  and  Remuneration
Committee and  the  Supervisory Board,  in  close relation  with  the
Management  Board.   All  the   elements  of  remuneration  will   be
communicated   in   detail,    in   accordance   with    Afep-Medef's
recommendations, in the  Company's annual report  for that  financial
year.
 
The  Supervisory  Board  confirmed  that  the  Afep-Medef   Corporate
Governance Code thus supplemented will be Unibail-Rodamco's reference
for the preparation of the report  provided for in article L.  225.68
of the French Commercial Code, in  accordance with the Act of 3  July
2008 that implements the European Directive 2006/46 of 14 June 2006.
 
For further information, please contact :
 
Media
Relations
Investors Relations
 
Arie
Bos
Fabrice Mouchel
+31                   20                    658                    25
00                                                           +33 1 53
43 73 03
 
Maxence Naouri
+33 1 53 43 75 47
 
www.unibail-rodamco.com
 
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Unibail-Rodamco
P.O. Box 75600 Schiphol Netherlands
 
ISIN: 
FR0000124711; 
Listed: Compartment A (Large Caps) in EURONEXT AMSTERDAM;