ALTAREA (EPA:ALTA) - ALTAREA COGEDIM WINS A 2011 MIPIM AWARD FOR THE

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15/03/2011 17:45

Press release                                                   15 March 2011

Altarea Cogedim wins a 2011 MIPIM Award for the renovation of the First tower
high-rise building

Altarea Cogedim won the 2011 MIPIM Award for the "Best Refurbished Office
Building" at the 21st annual MIPIM conference, for its renovation of the First
tower high-rise building in the La Defense business district of Paris.

This award recognises an ambitious, innovative renovation project that
transforms an office building into a comfortable, effective,
environmentally-friendly, and energy-efficient complex.

When it was built in 1974, the Axa building, designed by Pierre Dufau, was one
of the most visible high-rise buildings in La Defense; 30 years later it was
ripe for a complete renovation.

Therefore Axa Real Estate and Beacon Capital Partners selected Altarea Cogedim
to head a renovation project, which included scheduling, performing
feasibility studies, selecting architects and project managers, providing
project support, and outlining environmental specifications.

The resulting First tower high-rise building, designed by Kohn Pedersen Fox
and SRA Architectes, was completed after 37 months of work and is the new
symbol of not only the renovated business district but also a new generation
of office buildings.

Jean-Frederic Heinry, Chief Executive Officer of Altarea Cogedim Entreprise,
remarked, "By using state-of-the-art technology we have established First
tower as France's biggest HQE(r) [High Environmental Quality] construction
project, combining excelent environmental performance with a double-skinned
facade, pleasing design, and comfortable fittings. We were able to keep 80% of
the building's original concrete structure despite increasing its height from
162 m to 231 m. Therefore we used a lot less concrete than would have been
required for a new building-and spared ourselves hundreds of truck rotations.
These factors allowed us to cut the embodied energy, and consequently the
carbon footprint, of this project."

Stéphane Theuriau, Chairman of Altarea Cogedim Entreprise, added, "This award
recognises our skills and experience in complicated renovation projects with
high environmental value, on the back of two other awards we recently won: the
Grand Prix National de l'Ingênierie in 2009 and the Pierre d'Or in February
2011. Our MIPIM Award culminates this successful project started ten years ago
and delivered to Beacon Capital Partners on the 28th of February."

Project participants

  * Delegated project manager: Altarea Cogedim
  * Investors: Axa Real Estate and Beacon Capital Partners
  * Owner: Beacon Capital Partners
  * Architects: Kohn Pedersen Fox Associates and SRA Architectes
  * General contractor: Bouygues Renovation Privee

  * Engineering and design: Iosis
  * Project manager: Coteba
  * Building inspector: Socotec

Key figures

  * 231 m
  * 87,000 m2 of net floor area
  * HQE(r) certified (France's high environmental quality certification)
  * Delivered on 28 February 2011

About Altarea Cogedim Entreprise

Altarea Cogedim Entreprise is a full-service property developer operating in
Paris and around France. It plays a key role in complicated renovation
projects with a focus on excellent environmental performance.
During 2011, Altarea Cogedim Enterprise is set to deliver 171,000 sqm in space
in the Ile-de-France region and French provinces, with 144,00 sqm
HQE(r)-certified.

About Altarea Cogedim

Altarea Cogedim is a leading property investment and development company and
is the only group active in all three main property markets: retail, office,
and residential. It has the skills and experience to effectively design,
develop, sell, and manage customised property assets in each of these markets.
The company's risk exposure is aligned with its long-term vision, and it
creates value by designing and building attractive assets and by seizing
profitable opportunities in the property sector. Altarea Cogedim operates in
France and Italy and manages a property portfolio worth EUR2.6 billion. The
company has a market capitalisation of EUR1.3 billion and is listed in
Compartment A of NYSE Euronext Paris.

Press contacts
Nathalie Bardin                      Valerie Jardat
Head of Corporate Communications     Agence Cote Jardat
+33 156 26 25 36 / +33 685 26 15 29  + 33 141 05 94 10 / +33 612 05 18 35
bardin.naaltarea.com                 valerie.jardatacote-jardat.fr

Tour First named "Best Refurbished Office Building" at the 2011 MIPIM Awards

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