PARQUESOL ATTEINT SES PR?VISIONS ET CONTINUE SON PROGRAMME D'EXPANSION

Présentation des résultats de la société pour l'année 2006

Madrid, le 26 février 2007.- Parquesol, société immobilière avec une activité en expansion au cours des trente dernières années sur les marchés résidentiel et non-résidentiel, a atteint ses prévisions pour l'année 2006 avec 254,2 millions de chiffre d'affaires et 85,0 millions d'euros de bénéfice avant impôts.

REVENUS ET MARGES

Le revenu total de Parquesol en 2006 s'élève à 254,2 millions d'euros, 14 % inférieur à celui de 2005, mais en ligne avec les prévisions de la société. Fait marquant : l'augmentation de 10 % des revenus de l'activité de la location à 18,6 millions d'euros, qui traduit la stratégie de la société d'accroitre cette activité.

There was an anticipated and expected slowdown in residential development sales compared with 2005 — an exceptionally favourable year — to €163.1 million. Meanwhile, land sales contributed with €60.1 million. Lastly, asset sales totalled €10.0 million and other revenues €2.4 million.

Despite smaller revenues, there was a noteworthy expansion in gross profit from 2005's €111.5 million to €119.7 million in 2006, or a 47% gross margin, with an increase of over 9 percentage points above 2005.

The Company delivered a total of 652 housing units in the year. It currently manages 15 office buildings and owns four hotels, leisure centres and a building let in full to retirement home operator Ballesol.

INVESTMENTS

Investments in 2006 totalled €193 million, of which € 77 million was spent on the Company's property management, € 9 million to property project developments, and the remainder on land purchases and other projects. With such an investment, Parquesol is continuing with the business plan envisaged in its May 2006 IPO. The San José Group's clear position on the real estate segment via its public tender offer for Parquesol should support this expansion strategy in the years ahead.

EARNINGS

Profit for the period before tax edged up by 1%, to €85.0 million. At € 56.0 million, meanwhile, profit for the period was in line with 2005's figure. Accordingly, earnings per share (EPS) for 2006 equalled €1.41.

For further information on this press release, contact:

Pilar Fernández. Communication Manager, Parquesol
Tel: +34 917 994 990. Fax: +34 917 994 997
E-mail: [email protected]