PR Newswire/Les Echos/
 
                          Paris, 19 June 2008, 6:45 pm



                          Rearrangement of Affine shareholding

In accordance with the agreements signed in 2001 with Holdaffine, Affine's 
controlling holding company, one of its shareholders, Penthièvre Holding, has 
decided to make use of its option to own directly its indirect stake in Affine 
in future.

As a result of this operation:
-      Penthièvre Holding will hold 12.4% of the capital of Affine, thus 
exceeding the threshold of 5 and 10% of the capital, and 8.4% of the voting 
rights of Affine, thus exceeding the threshold of 5% of the voting rights;
-      Holdaffine will fall below the threshold of 50% in the capital of Affine
, of which it will now hold 41.4%, and will control 56.4% of the company's 
voting rights.

This operation will also involve the signature of a shareholders' agreement 
between Holdaffine and Penthièvre Holding whereby the latter:
-      undertakes to retain for a two-year period an equity interest of at 
least 10% in the capital of Affine,
-      grants Holdaffine a right of preemption in the event of a sale of said 
equity interest;
-      and undertakes not to hold its Affine shares in registered form for the 
term of the
       agreement.

This rearrangement will therefore have no impact on the actual control 
exercised by Holdaffine on its subsidiary Affine and has been submitted for 
approval to the Board of AMF (the French Financial Markets Authority) which 
will publish its decision.


About the Affine Group

The Affine Group is structured around three property companies:

- Affine, a property company with French REIT (SIIC) status, which is listed in 
Compartment B on Euronext Paris,   and which acts as an investor (offices, 
warehouses, stores) throughout France and in neighbouring countries. It   is 
also a credit institution in respect of its financial leasing business. 
Affine's shares are included in the SBF 250 (CAC Small 90), SIIC-IEIF and EPRA 
indices; its market capitalisation represents approximately €300 million and, 
at the end of 2007, its assets were estimated at €631 million.

- Banimmo, a Belgian property company listed on Euronext Brussels and Paris, is 
jointly controlled by Affine   (50%) and the company's management (27%). It is 
specifically involved in renovating and repositioning   buildings in Belgium, 
France and Luxembourg. Its market capitalisation represents approximately €220 
million   and, at the end of 2007, its assets were estimated at almost €300 
million.

- AffiParis is a French REIT (SIIC) listed in Compartment B on Euronext Paris, 
and specialises in commercial   property in Paris. Its market capitalisation 
has reached €40 million and, at the end of 2007, its assets were   estimated at 
€177 million.

The Group also has subsidiaries specialised in logistics engineering (Concerto 
Développement and Concerto Développement Ibérica), retail investment (Capucine 
Investissements), property development (Promaffine) and business centres (BFI).

           Société anonyme au capital de 47 800 000 Euros - Siège social : 4 
square Edouard VII, 75009 PARIS
                        Tél. : 01 44 90 43 00 - Télécopieur : 01 44 90 01 48 - 
Email : info@affine.fr
                         712 048 735 RCS Paris - N° TVA intracommunautaire F 
R92712048735

CONTACTS

CITIGATE DEWE ROGERSON: Nicolas Castex - Agnès Villeret
Tel: + 33 (0)1 53 32 78 88/95 - nicolas.castex@citigate.fr or agnes.villeret@
citigate.fr

AFFINE: Maryse Aulagnon - Alain Chaussard
Tel: + 33 (0)1 44 90 43 10 - info@affine.fr

Antoine-Pierre de Grammont - Corporate Communication Officer
Tel: + 33 (0)1 44 90 43 53 - antoine-pierre.de-grammont@affine.fr




         Société anonyme au capital de 47 800 000 Euros - Siège social : 4 
square Edouard VII, 75009 PARIS
                      Tél. : 01 44 90 43 00 - Télécopieur : 01 44 90 01 48 - 
Email : info@affine.fr
                       712 048 735 RCS Paris - N° TVA intracommunautaire F 
R92712048735

                         
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