Zublin Immobiliere France Board nominated Dr. Iosif BAKALEYNIK, Mr. Vladislav OSIPOV and Mr. Iakov TESIS in replacement of Mr. William NAHUM and Mr. Bruno SCHEFER who resigned in May 2014, and of Mr. Andrew WALKER who resigned on 16 June 2014. The confirmation of these new Directors will be put on the agenda of the general shareholders meeting following the one to be held on 26 June 2014. M. Pierre ROSSIER, Chairman of the Board and M. Xavier DIDELOT resigned during the Board.

A Board is to meet on 26 June 2014, in order to nominate Mr. Iosif BAKELEYNIK as new Chairman of the company.