INMOBILIARIA COLONIAL : CLOTURE DE L'OPA SUR RIOFISA QUI RECUEILLE UN TAUX D'ACCEPTATION DE 99,41 %

Madrid, le 1er août 2007

L'augmentation de capital de 709,5 millions d'euros qui servira en partie à financer cette opération prendra fin le 2 août.

L'OPA de Inmobiliaria Colonial sur Riofisa s'est clôturée avec un taux d'acceptation de 99,41 %. La contrepartie, payable en numéraire, atteint 44,31 euros par action. Riofisa Holding SL, principal actionnaire à 50,001 % de Riofisa, avait donné son accord préalable à l'offre.

The high acceptance rate in the acquisition shall enable Inmobiliaria Colonial to implement its strategic development plans efficiently, serving to round out its business model with the retail-centre development and operation activity. The purchase is in line with the Company's strategy of integrating high-quality properties into its assets, thus assuring stable revenue sources and so a solid company, safeguarded from business cycles and generating value for its shareholders.

The Group is on the point of concluding a €709.5 M capital increase via the issue of 228,885,125 new shares at a price of €3.10 (€0.12 face value plus a €2.98 share premium).

This capital increase completes Inmobiliaria Colonial's plans to finance the Riofisa acquisition, with the proceeds obtained intended to pay for the deal. The major shareholders with seats on the Board have already signed a commitment to participate in the increase, bearing witness once again to their full support for the Group's business plans. The preferential subscription period lasts from 19 July to 2 August.

On 26 July, Inmobiliaria Colonial unveiled its first-half 2007 results showing €316.4 M profit for the period. Operating profit before interest totalled €569.1 M, in which the main driver was the rental business (rental income, asset sales and investment property revaluation gains).

These healthy results are thanks to the composition of Inmobiliaria Colonial's assets — focused on rentals — given the healthy momentum experienced by the markets where the Company is present and above all its locations in the best districts of Paris, Barcelona and Madrid. These have enabled it to record a 97.7% occupancy rate, in excess of the broad market average. This situation is particularly visible in Madrid, where Inmobiliaria Colonial's office properties can boast 99.5% occupancy, against the market's 93.5% average.

Inmobiliaria Colonial's total asset value at end-June equalled €11.149 M.

Contact:

Pilar Suárez-Carreño
Tel.: + 34 91 575 45 05
[email protected]