AFFINE (EPA:IML) AffiParis sells its building at rue Paul Baudry

Transparency directive : regulatory news

04/12/2012 19:00

Paris, 04 December 2012, 07:00 p.m.

                 AffiParis sells its building at rue Paul Baudry

Affine reproduces below the press release of its subsidiary AffiParis.

The sale by AffiParis of its the building located on the corner of the rue Paul
Baudry and the rue de Ponthieu in Paris (8th District), took place on December
4, at a net price of EUR96m (EUR101.8m including transfer taxes), as announced
in a press release dated 10 October 2012.

As a reminder, this amount, which is 1.5% lower than the value recorded in the
consolidated financial statements as at 30 June 2012, does not impact the
exchange ratio applied for the merger by absorption of AffiParis by Affine that
will be submitted to approval by the extraordinary general shareholders'
meetings of the two companies on 7 December. Given the loss recorded by the
company on the sale, this transaction will not give rise to any mandatory
dividend payment.

This transaction is the end of a sale process that was launched in late 2011,
and enables the company to sell an asset that was of high quality, but
accounted for an excessive portion of its portfolio (around 50%). The building,
which is located in Paris' central business district, is a 9,400 sqm office
complex, which enjoys a 100% occupancy rate. The building premises are almost
entirely occupied by a corporate law firm Baker & McKenzie since October 2006;
the lease was renewed for a fixed 6-year term in August 2011.

The disposal of this building will automatically reduce the LTV ratio (net
debt / assets including transfer taxes) and the average occupancy rate. The net
gain on the sale, after repayment of the attached credit, comes to around
EUR20m.

AffiParis was advised by BNP Paribas Real Estate, and by Maîtres Jean-François
Martin and Olivier Trichet from the solicitor Haussmann Notaires.

The acquirer, represented by DTZ Asset Management, was advised by the solicitor
Théret Leroy Reberat Brandon and by the lawyer Fidal.

About the Affine Group

Affine is a property company specialising in commercial property. At the end of
June 2012, and in partnership with its subsidiary, AffiParis, they owned and
managed 65 buildings with a total value of EUR702m, inclusive of taxes, spread
over a total surface area of 524,000 sqm. The company owns office property
(60%), commercial property (11%) and warehouses (28%). Its business activity is
evenly divided between the l'Ile de France (Paris region) and the other French
regions.

Affine is the reference shareholder of Banimmo (49.5%), the Belgian
repositioning property company present in Belgium, France and Luxembourg, and
of Concerto European Developer, a subsidiary specialising in organising
development operations in logistic property.

In 2003, Affine adopted the special tax treatment applicable to French real
estate investment trusts (SIIC). The Affine share is listed on NYSE Euronext
Paris (Ticker: IML FP / BTTP.PA; ISIN code: FR0000036105) and admitted to the
deferred settlement service (long only). The Affine share is included in the
CAC Mid&Small, SIIC IEIF and EPRA indices. AffiParis and Banimmo are also
listed on NYSE Euronext. www.affine.fr

Contact
INVESTOR RELATIONS              PRESS RELATIONS
Frank Lutz                      Watchowah - Cyril Levy-Pey
+33 (0)1 44 90 43 53 -          +33 (0)6 08 46 41 41 -
frank.lutz@affine.fr            levy-pey@watchowah.com

  SOCIÉTÉ ANONYME (PUBLIC LIMITED COMPANY) WITH CAPITAL OF 53,100,000 EUROS -
               REGISTERED OFFICE: 5 RUE SAINT-GEORGES, 75009 PARIS
       TEL.: 01 44 90 43 00 - FAX: 01 44 90 01 48 - EMAIL: INFO@AFFINE.FR
        712 048 735 RCS PARIS - INTRACOMMUNITY VAT NO. FR92712048735

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