PR Newswire/Les Echos/
 
                          Press release
Paris, 15 July 2008

2008/2009 first-quarter consolidated sales


Züblin Immobilière France, a real-estate company that invests in commercial
properties, announces consolidated sales for the 1st quarter of its 2008/2009 financial
year (from 01/04/08 to 30/06/08) of €7.1m, out of which rents amounts to €6.6m.


Rents for the 1st quarter of 2008/2009 are up 1.2% compared to the 4th quarter of the
2007/2008 financial year (from 01/01/08 to 31/03/08). On a like for like basis (excluding the
Danica and Salengro buildings, respectively acquired on 14 and 30 January 2008), rents
decreased by 2.2% because of the full-quarter effect of the vacancy of the Jatte 3 building
associated with the departure of YSL Beauté.


Compared to 1st quarter of the previous financial year, rents increased by 54.4%, notably
because of the acquisition of Jatte 3, Suresnes, Magellan, Danica and Salengro buildings.
On a like for like basis, rents are up 0.7% over one year.




About Züblin Immobilière France
Züblin Immobilière France is a listed property company, which has elected for REIT status
(SIIC status). The company invests in commercial properties (offices, shops, logistics), and
its real estate in France consists of 8 office buildings in the Paris Western Business district
(Neuilly-sur-Seine, Gennevilliers, Nanterre and Suresnes), in Lyon and Marseille.




Key figures as of 31 March 2008:
   Portfolio appraised value: €398m (gross) (+60% over 1 year)
   Annualised rental income: €26.7m (+54% over 1 year)
   Diluted liquidation NAV: €14.09 per share (-0.8% over 1 year)




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Shares of Züblin Immobilière France trade on compartment C of Euronext Paris market of
Nyse Euronext - ISIN: FR0010298901




Contacts
Eric Berlizon, CFO, Züblin Immobilière France, 52 rue de la Victoire, 75009 Paris
Tel. +33 (0)1 40 82 72 40, info@zueblin.fr
Emmanuel Huynh, Steve Grobet, NewCap., Financial communication
Tel. +33 (0)1 44 71 94 94, Fax +33 (0)1 44 71 94 90, Email zueblin@newcap.fr




This press release is not intended as an offer or a solicitation to buy Züblin Immobilière France shares in
the United States of America nor any other country where such an offer would be in breach of applicable
laws and regulations. Züblin Immobilière France shares have not been, and will not be, registered under
the United States Securities Act of 1933, as amended. Züblin Immobilière France does not intend to
register Züblin Immobilière France shares under the US Securities Act of 1933 or to offer these shares for
sale in the United States of America.
The shares are only available and may only be offered to or issued to those relevant persons who are
legally authorised, and any offer, solicitation or agreement in view of a purchase of existing shares or an
application for new shares can only be carried out with those who are legally entitled to do so.
Other persons should not act or rely on this press release. This document or any other document related to
the company should only be distributed in accordance with the conditions above.
This document does not constitute an offer to sell or the solicitation of an offer to invest.
Distribution of this press statement in some countries can be a violation of applicable legislation.


This press release is not for publication or distribution in the United States, the United Kingdom,
Canada, Italy, Australia or Japan.




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