IRSA Propiedades Comerciales S.A. Announced Today That IRSA Inversiones y Representaciones Sociedad Anónima Has Priced the Secondary offering of 10,240,000 Common Shares Represented by 2,560,000 ADSs

BUENOS AIRES, Argentina, Oct. 27, 2017 /PRNewswire/ -- IRSA Propiedades Comerciales S.A. ("IRSA CP")  announced today that IRSA Inversiones y Representaciones Sociedad Anónima ("IRSA") has priced a secondary public offering of 10,240,000  common shares, par value Ps.1.00 per share, which will be represented by American Depositary Shares ("ADSs"), each representing four common shares. The ADSs were exclusively offered and sold outside Argentina. IRSA CP did not offer any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering. In addition, none of IRSA CP's officers or directors sold any common shares or ADSs beneficially owned by them in the offering.  The offering is expected to close on October 31, 2017.

The offering of these securities was made outside of Argentina pursuant to an effective registration statement on Form F-3 filed on October 10, 2017. The offering was made only by means of the F-3 and a prospectus supplement. J.P. Morgan is serving as underwriter for the offering. A copy of the prospectus relating to the offering of shares represented by ADSs, when available, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About IRSA CP

IRSA CP owns, develops and manages commercial real estate properties, which consist primarily of shopping malls and office buildings throughout Argentina. IRSA CP is currently the largest owner and operator of shopping malls and one of the largest owners of office buildings and other commercial properties in Argentina in terms of gross leasable area and number of rental properties according to data published by the Argentine Chamber of Shopping Malls. With several projects under development, IRSA CP owns 16 shopping malls, with an aggregate 341,289 square meters of gross leasable area and 6 office buildings, with an aggregate 86,497 square meters of gross leasable area as of June 30, 2017.

Forward-Looking Statements

This press release includes certain disclosures which contain "forward-looking statements." You can identify forward-looking statements because they contain words such as "believes" and "expects." Forward-looking statements are based on IRSA CP's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in IRSA CP's filings with the SEC, including IRSA CP's registration statement on Form F-3, as amended or supplemented from time to time, under the caption "Risk Factors."

SOURCE IRSA Commercial Properties S.A.