J.P. Morgan J.P. Morgan invites you to participate in a prospective investor conference call for Blackstone Real Estate Partners VII Global real estate remains a compelling investment opportunity given the prevalence of distressed sellers, ongoing de-leveraging. and low new supply in combination with modest economic growth. The Blackstone Group ("Blackstone" or the "Firm") is a global alternative asset manager founded in 1985 that manages over 5160 billion of private equity funds, real estate funds, hedge funds and debt funds. Blackstone's real estate group is a market leader, having invested 430 billion of capital across multiple property types in more than 300 investments over its 20-year history across six equity and two debt funds. Blackstone's opportunistic real estate funds have generated a lifetime net IRR of 16.0% versus 3% for the private real estate benchmark index, NCREIF-ODCEI. Blackstone holdings include many of the world's best known real estate brands including Hilton. Equity Office Properties. General Growth Properties and world-famous properties such as the Waldorf-Astoria and Boca Raton Resort & Club. Blackstone has established Blackstone Real Estate Partners VII (the "Fund") to pursue a global opportunistic real estate strategy. The Fund will seek to achieve attractive returns by acquiring distressed and/or undermanaged properties at a discount to physical replacement cost from motivated sellers or through bankruptcies. recapitalizations and distressed debt investments. Featuring Jonathan Gray, Senior Managing Director and Head of the Blackstone Real Estate Group Date: Wednesday, April 4 th, 2012 Time: 11:00am NY/ 4:00pm London Call-in Numbers: Within the U Outside the U. Hong Kon Singapore: Passcode: BLACKSTONE To view the slides associated with this presentation, copy and paste the following URL into your internct browser: https://Mmorganconferencecall.webex.com Event password: blackstone The Conference Call will be