PR Newswire/Les Echos/

Paris, 15 November, 2010, 6:00 pm

Quarterly information at 30 September 2010

5% DROP IN RENTS ON LIKE-FOR-LIKE BASIS

1) CONSOLIDATED REVENUE (NINE MONTHS)

(EURm)                               01/01/2009  01/01/2010    CHANGE
                                     30/09/2009  30/09/2010

Rental income                              58.4        52.9      -9.4%
Re-invoiced charges and other              21.3        10.2     -52.4%
Total revenue investment properties        79.7        63.0     -20.9%
Finance lease                              16.7        14.2     -14.8%
Property development                        0.9        -0.2       N.M.
Other(1)                                    8.4         1.0       N.M.
Total consolidated revenue                105.7        78.1     -26.1%

(1) Financial and exceptional income and business centre activities (in 2009)

On a like-for-like basis, rents decreased by 5.2%, primarily due to the impact
of lease cancellations and renegotiations in 2009. After taking account of the
net impact on rents resulting from disposals and acquisitions (-EUR1.9m) and 
the refurbishment at Banimmo of two buildings temporarily freed from their 
occupants (-EUR1.2m), rents amounted to EUR52.9m, down by 9.4% compared to the
first nine months of 2009.

The sharp decline in re-invoiced charges can be explained by the integration 
in 2009 of the major works on the Sirius building performed by Banimmo for
Mobistar, and readjustments to reflect the settlement of Affine's 2007 and 
2008 charges. As a result, the revenue for Investment properties was down 
20.9% to EUR63.0m in the first nine months.

The other items reflect the strategy to refocus on the property business with
a further decline of the revenue from finance lease activities (-EUR2.5m), a
marginal contribution from the development activity, and the disposal of 
equity investments in BFI and Altaréa which had accounted for a total revenue
of EUR7.4m in the first nine months of 2009.

Overall, revenue for the Affine Group decreased by 26.1% to EUR78.1m. 

Investment properties

In the third quarter, eleven new leases were signed and three were renewed,
representing total annual rent of EUR3.4m. However, eight tenants accounting
for total rent of EUR1.2m on an annualized basis, gave notice of their 
departure.

Affine continued to streamline its portfolio with the disposal of mature and
small-sized properties. Accordingly, during the quarter, Affine and AffiParis
sold a minority equity investment in a shopping centre at Val d'Yerres, and 
two office buildings in the Paris region at Goussainville and Croissy 
Beaubourg for a total amount of EUR5.8m. These transactions were completed at
prices consistent with the appraisals at the end of June 2010.

Finance lease

The finance lease activity recorded nine exercised options during the third
quarter of 2010.

Revenues continued to fall due to the amortization of portfolio transactions 
and the low production of deals.

Property development

There were no disposals during the period. However, with the signing of a 
17,700 sqm lease for the logistics platform in Hem (59), Concerto 
Developpement completed the letting of sites jointly held with MGPA in the 
Logiffine joint venture.

2) SIGNIFICANT EVENTS

No significant event occurred during this quarter.

3) FINANCIAL POSITION AT 30 SEPTEMBER 2010

There were no significant changes to the Group's financial structure compared
to 30 June 2009.

4) OUTLOOK

The occupancy rate stabilized at its June level (88.4%) and may improve in the
next few months. This outlook, combined with a dynamic marketing policy, could
help to reverse the downward trend of rents recorded during the first nine
months.

5) SCHEDULE

- February 2011: 2010 annual results

CONSOLIDATED REVENUE (THREE MONTHS)
(EURm)                                 01/07/2009    01/07/2010   CHANGE (%)
                                       30/09/2009    30/09/2010
Rental income                             18.4          16.8       -8.9%
Re-invoiced charges and other             10.4           4.8      -54.1%
Total revenue investment properties       28.9          21.6      -25.3%
Finance lease                              5.7           6.0        5.4%
Property development                       1.1           0.0        N.M.
Other(1)                                   1.9           0.2        N.M.
Total consolidated revenue                37.9          27.9      -25.9%

(1) Financial and exceptional income and business centre activities

About the Affine Group
The Affine Group is a diversified property company specialized in commercial
property. It holds assets comprising, at the end of June 2010, 107 buildings
with an estimated value of EUR1,079 million and a total surface area of 
829,000 sqm. The Group mostly owns office property (54%), commercial property 
(21%) and warehouses (19%). 

Its activity is split between Affine (56%), active in French regions outside
Paris, AffiParis (20%), an SIIC - French listed real estate investment trust -
specialized in Paris property, and Banimmo (24%), a Belgian property 
development company located in Belgium, France and Luxembourg. 

The Affine Group also includes Concerto Développement, a subsidiary 
specialized arranging development and investment transactions for logistics 
property in Europe. 

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 system (long only). The Affine share is included in the 
SBF 250 (CAC Small 90), SIIC IEIF and EPRA indices. AffiParis and Banimmo are 
also listed on NYSE Euronext. www.affine.fr 

Contact

INVESTOR RELATIONS             PRESS RELATIONS
Frank Lutz                     Citigate Dewe Rogerson - Agnes Villeret
+33 (0)1 44 90 43 53 - 	       +33 (0)1 53 32 78 95 - 
frank.lutz@affine.fr           agnes.villeret@citigate.fr

   A French société anonyme with share capital of EUR47,800,000 - Registered
   Office: 4 square Edouard VII, 75009 PARIS
  Tel: 33 (0)1 44 90 43 00 - Fax: 33 (0)1 44 90 01 48 - Email: info@affine.fr
        712 048 735 RCS Paris - Intracommunity VAT number FR92712048735
                      
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