ATENOR

M&A Activity • May 13, 2011

Media Gardens Project: Transfer of the IDM A company to Aedifica

La Hulpe, 13 May 2011

On 13 May 2011 ATENOR GROUP sold the shares of the company IDM A, the owner of an apartment building in the project Media Gardens in Schaerbeek, to the residential real estate investment trust (sicafi) Aedifica.

This transaction is the outcome of an agreement of 15 November 2007 signed between Atenor and Aedifica. The provisional acceptance of the construction works was granted on 3 May, in compliance with the schedule that had been determined.

Commercialised under the name "Résidence de Gerlache ", the building consists of 75 residential units (studios and apartments with one to three bedrooms and a surface from 42 to 128 m²) distributed over five levels, four commercial spaces, one space for a liberal profession and 72 underground parking places for a total built area above ground of around 6,947 m². The current standards in effect concerning energy performance make this a low‐energy building (K31).

The transaction value amounts to € 14.1 million. An adjustment of the transfer value is scheduled a year from now. Said adjustment will depend on the inflation rate and the commercial success.

Atenor gave Aedifica a rental guarantee of 9 months. Until now, more than 35% of the units have already found tenants, expressing their interest in the excellent location of the site and the environmental qualities of the building.

This operation will contribute favourably to the results of Atenor Group for the financial year 2011. A more precise indication will be provided in the intermediary press release of the 1st quarter 2011 to be released on May 19, 2011.

Financial calendar:

Intermediary Press Release first quarter 2011	19 May 2011
Publication of the 2011 half‐results:	31 August 2011
Intermediary Press Release third quarter 2011:	18 November 2011
Publication of 2011 annual results:	1 March 2012
General Meeting 2011:	27 April 2012
Intermediary Press Release first quarter 2012:	18 May 2012

For further information, please contact Stéphan Sonneville (representing Stéphan Sonneville sa, CEO) or William Lerinckx (representative of Probatimmo bvba, Executive Officer).

+32‐2‐387.22.99 ‐ +32‐2‐387.23.16 ‐ courriel : info@atenor.be ‐ www.atenor.be

ATENOR GROUP is a real estate property promotion company quoted on NYSE Euronext Brussels. Through our urban planning and architectural approach, we aim to provide appropriate responses to the new requirements being imposed by developments in urban and professional life. Within this framework, ATENOR GROUP is investing in large‐scale property projects which meet strict criteria in terms of location, economic efficiency and respect for the environment.

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