PRESS RELEASE

ACQUISITION OF 9 NURSING HOMES AND AN IMPORTANT PIPELINE FOR THE 3 COMING YEARS

- Further diversification for Cofinimmo in this sector - - After this acquisition, investments in nursing homes represent 9% of Cofinimmo’s assets -

Brussels, 30 May 2007 – The Cofinimmo Group today announces the acquisition of 100% of the shares of the real estate activity of Van den Brande Group, owner of 9 nursing homes as well as a land reserve of 25 hectares which will be used to build or extend at least 6 homes.

The 9 nursing homes today in operation have 809 authorised beds and totalise 46,000 m² above ground. They are located in the provinces Vlaams Brabant (Rotselaar, Boutersem) and (, Oud-, , , Balen, and Mol).

Next to the existing institutions, Cofinimmo will support financially the construction or extension works of the following nursing homes:

Place Project Beds m² Building permit Foreseen delivery of the works Construction 60 4,148 Delivered February 2008 Construction 60 5,181 In process February 2008 Oud-Turnhout Extension 40 2,190 In process July 2008 Construction 120 8,522 In process December 2008 Rotselaar Extension 30 1,448 Delivered December 2008 Balen Extension 33 1,596 Delivered December 2008

For the end of 2008, the total portfolio of 15 nursing homes will have 1,152 authorised beds and totalise an investment value of € 105.92 million. Those assets will generate an indexed initial gross rental yield of 6.30%1 for Cofinimmo.

In this transaction, Cofinimmo also acquires a land reserve allowing the construction of new projects and extensions. As such, extension projects are already being studied today for Boutersem and Geel, for a total of 73 additional beds.

These nursing homes, as well as the possible new institutions to be built on the land reserve, will all be operated by Palmir SA, with whom Cofinimmo has concluded long leases for a period of 27 years. Palmir is the company through which the Van den Brande family will pursue its commitment to the nursing home sector.

1 The estimated yield is based on « double net » lease contracts, where the structural renovation is at charge of the landlord.

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PRESS RELEASE

The quality of the residences, the scope of activities of Palmir SA, its expertise and reputation in operating nursing homes as well as the contractual and financial structure of the transaction, guarantee the solidity of Cofinimmo’s tenant.

By welcoming this operator as a new tenant next to the 2 existing nursing home operators in Cofinimmo’s portfolio, Cofinimmo is further improving its counterpart risk in this sector.

For more information:

Sébastien Berden Jean-Edouard Carbonnelle Corporate Finance Manager Chief Financial Officer Tel. +32 2 373 00 09 Tel. +32 2 373 00 08 [email protected] [email protected]

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