PR Newswire/Les Echos/
 
                          Press release
Paris, 30th January 2008


Eric Berlizon appointed Chief Financial Officer.
Closing of the acquisition of an office building in Marseille.



Eric Berlizon appointed Chief Financial Officer
In line with its strategy, Züblin Immobilière has strengthened its team with 
the appointment of Eric Berlizon as Chief Financial Officer.
Mr Berlizon, 37, is a graduate of the Reims Ecole Supérieure de Commerce. He 
was previously Senior Manager with the Financial Institution and Real Estate 
team in KPMG Audit's Transaction Services department. During his eleven years 
with KPMG, he worked in both the Paris and New York offices providing audit and 
advisory services to real estate companies and financial institutions. His 
responsibilities included auditing the financial statements of REITS, taking 
part in studies on the implications of regulatory and accounting developments 
for financial reporting by real estate investment companies and carrying out 
financial due diligence for acquisitions made by real estate companies.




Closing of the acquisition of an office building in Marseille
Züblin Immobilière France announces that it has closed on 30 January 2008 the 
acquisition of an office building totalling 5,835 sqm in the Euroméditerranée 
complex at 36-40 rue Roger Salengro in Marseille, having signed a conditional 
purchase agreement on 4 May 2007.
The building, which was completed on 17 December 2007, is fully let to the city 
of Marseille's information systems department at an annual rent of €1.3m. The 
purchase cost is €14m, hence a rental yield of 9.3%. The nine-year lease 
includes an annual purchase option for the city of Marseille at a pre-set price
. The rent and the purchase option price are both indexed to the French 
construction cost index (ICC).
The purchase is entirely financed by equity and will contribute €0.11 to net 
cash flow per share (on a fully diluted basis).

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Including the purchase of the Danica building in Lyon and the Salengro building 
in Marseille, Züblin Immobilière France's portfolio value (including transfer 
taxes) now amounts to €402m. Annualised rental income is €26.8m. Portfolio 
yield is 6.7%.




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:
- Appraised real estate holdings: €402 m (real estate transfer tax included)
- Annualised rental income: €26.8 m
- Operating cash flow: €4.2m (30.09.2007)
- Diluted liquidation NAV: €14.60 per share (30.09.2007)



Shares of Züblin Immobilière France trades 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




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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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