PR Newswire/Les Echos/

Press Release

Paris,16th January 2009

Consolidated sales for the third quarter of 2008/2009

Züblin Immobilière France, a real-estate company specialising in office
properties, announces that its consolidated sales for the third quarter of its
2008-2009 financial year (from 01 .10.08 to 31.12.08) reached EUR6.9m, out of
which rents amounted to EUR6.2m. For the first nine months of the current
financial year (from 01.04.08 to 31.12.08), consolidated sales totalled
EUR21.1m, out of which rents amounted to EUR19.6m.

Tenancy situation
Taking into account the lease signed with TMC Regie for one floor of the Jatte 
3 building, the Company' occupancy rate was 99% at 01.01.09.
On an annualised basis, rents totalled EUR24.0m, compared with EUR26.1m at the
end of the previous quarter. This 8% decline is mainly due to an adjustment to
the Jatte 1 building rent down to current market rental level as of 08.12.08.
This building is fully occupied by Roche.

Outlook
Züblin Immobilière France's strengths - long-term secured debts, high-quality
buildings and tenants, an occupancy rate close to 100%, and low operating costs
- continue to ensure the ongoing success and positive cash generation of its
operation despite the prolonged economic crisis.

For the current financial year, Züblin Immobilière France anticipates stable
operating cash flow per share compared to last year (EUR1 per share, on a
diluted basis).

Sales by quarter:

In euros                          2008/2009   2007/2008         (%)

First quarter (01.04.08 - 30.06.08)     7.1         4.5        +58%
Second quarter(01.07.08 - 30.09.08) 	7.1         4.6        +55%
Third quarter (01.10.08 - 31.12.08) 	6.9         6.0        +14%
9-month total (01.04.08 - 31.12.08) 	21.1       15.1        +39%

Compared to the same period of the 2007-2008 financial year, third-quarter rents
(amounting to EUR6.2m) were up 11%. This net progression is a result of the
following factors:

* positive effect of lease indexations;
 
* growth in the rental base, due to the acquisition of the Danica (Lyon) and
Salengro (Marseillle) buildings carried out in early 2008;
 
* the decrease in rents for the Jatte 1 and Le Magellan buildings.
 
Compared to the previous quarter of the current financial year, rents were down
7.5% as a result of the rent decreases agreed for both the Le Magellan and 
Jatte 1 buildings.

About Züblin Immobilière France (www.zueblin.fr)
Züblin Immobilière France is a listed property company, which has elected for
REIT status (SIIC status). The company invests in office properties, and its
real estate in France consists of 8 office buildings in Paris area, Lyon and
Marseille.

Key figures as at 30.09.08:

* Portfolio appraised value: EUR357.1m (gross)
* Diluted liquidation NAV: EUR10.86 per share
 
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 
www.zueblin.fr

Steve Grobet, Dusan Oresansky, 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.

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the United Kingdom, Canada, Italy, Australia or Japan.
                      
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