Banimmo SA

Earnings Release • Apr 30, 2013

PRESS RELEASE

Regulated information April 30th 2013: 6.30 p.m.

Banimmo : 2012 annual results and first quarter 2013

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Within the framework of the announced Bond Exchange Offer starting on May 2nd 2013, Banimmo (NYSE Euronext BANI) wishes to provide the Financial Markets with an update of its financial information.

Results 2012

The net result of the year 2012 amounts to € 2,673,841, in accordance with the press release approved by the Board of Directors on February 20th 2013 and confirmed by the statutory auditor.

The sale of the usufruct receivables, due by the European Commission, to the institutional investor Fédérale Assurance has however been the object of a different ventilation in the consolidated accounts.

With regard to the H3 building (Brussels), it indeed appeared that the signature, in February 2012, of an amendment extending the usufruct granted to the European Commission from 2015 till 2023, was similar to a financial lease on the constructions and a normal lease on the ground, of which Banimmo is itself long lease holder.

Therefore, in the balance sheet on June 30th 2012, the building (only the part related to the constructions) is replaced by a financial lease receivable on the European Commission. In the first half year of 2012, this transaction generates a capital gain equal to the difference between the actual value of the receivables and the value of the constructions on the balance sheet. The consolidated net result on June 30th 2012 increases therefore (ex post) form €34 K tot €1,414 K.

In the second half year, following the sale of those receivables for an amount of € 11,150 K, this flow must be split accounting wise between a part related to the constructions (€9,531 K) and a part related to the ground (€1,619 K). On the sale date, those amounts are compared to the accounting value of the related receivables.

The different transactions related to the H3 building generate in fine accounting wise a global revenue of €8,042 K, distributed as follows:

• Capital gain on the sale : € 3,433K
• Revaluation capital gain of the residual values (ground and constructions after 2023) as estimated by the real estate expert (DTZ) € 4,238K
• Financial result € 211K • Renting result on ground € 159K

Under the former presentation, the accounting capital gain amounted to € 6.913K. On top, this result was increased with the usufruct payment of €1,129 K collected by Banimmo during 2012.

To summarize and by comparing both presentations, we obtain :

	Former presentation	New presentation
Usufruct payments	€ 1,129K	€ 159K
incorporated in rental income
Results related to the H3	€ 6,913K	€ 7,883K
operation
Total	€ 8,042K	€ 8,042K

To summarize, the consolidated result of 2012 remained unchanged. Only the breakdown of this sale operation in the different accounting sections has been changed.

More information on this operation can be found in our annual report available on our website www.banimmo.be.

Evolution 2013

The year 2013 began in a positive way with three significant operations :

• The sale in March 2013 of a retail asset that is part of a retail center « Art de Vivre » in Eragny (Ile de France) for a total price of € 18.65 million with capital gain.
• The sale in March 2013 of the office building Prins B.5 in Kontich for a sales price of around €9 million without any significant impact on the results.
• The development of a new office building (built to-suit) for the international insurance broker Marsh & McLennan based on a 15 years rental agreement. The building will be delivered in December 2014. Its financing has been finalized, as an important number of banks wanted to finance this operation.

For 2013, Banimmo has a sales objective of around € 60 million. About half of this objective has already been realized. The negotiations on the sale of retail assets in France are evolving positively.

On the commercial side, no new important letting agreement related to office buildings has been signed in the first quarter, but some existing agreements have been extended, in particular with regard to the assets Diamond, Alma and Corvettes.

On the other hand, in France the pre-commercialization of the retail areas in Suresnes is evolving positively as 65% of the area is now pre-let.

The commercial restructuring of the galery Marché Saint-Germain is also moving forward as negotiations are evolving positively with an important international brand.

With regards to City Mall and its three projects in Verviers, Namur and Charleroi, the evolution is the following :

• In Verviers, the Council of State will hear on April 30th the pleadings on the second appeal introduced by three parties. On the last eight means that have been introduced by the latter, only one has been accepted by the public prosecutor. Public authorities (City and Region) reaffirmed their support for the last version of this
• project considering the jobs creation and the necessary revitalization of the city center. • In Namur, the public authorities' wish to make the project succeed is also clear and is accompanied, in dialogue with the developer City Mall Invest, with the justified cautiousness in the development of the local plans in order to protect the permits against recourses. Therefore, obtaining the permits will be delayed with 6 to 9 months.
• As announced previously, the project in Charleroi, is moving towards a new development plan that is combining a mixity of retail, office and residential area with public infrastructures, in accordance with the wishes of the city.

With regards to our participation in the Dolce hotel-conference centers, no particular evolution has occurred.

Banimmo will publish its regulatory interim trading update on May 13th 2013.

Banimmo doesn't anticipate any significant event in the coming two weeks.

Contact:

Didrik van Caloen nv BANIMMO sa Tel. : +32 2 710 53 41 e-mail : didrik.vancaloen@banimmo.be

Christian Terlinden nv BANIMMO sa Tel. : +32 2 710 53 42 e-mail : christian.terlinden@banimmo.be

About Banimmo

Banimmo, a real estate company for repositioning and redevelopment, acquires buildings that have a high potential for redevelopment in order to re-sell them after transformation. The company is also specialized in the development of built to suit buildings meeting the highest sustainability and energy-efficiency norms. The company, which is active in Belgium, in France and in Luxembourg in the office, retail and semi-industrial sectors, as well as in conference and exhibition centres, is established in Brussels. Its subsidiary, Banimmo France, covers the French market from its headquarters in Paris.

The company has thirty employees. Until now, the Banimmo group has invested in around 24 real estate properties representing a total value of more than € 417 million. Belgium constitutes the predominant market, with 61% of the portfolio in terms of market value. France represents 39% of Banimmo's portfolio. The portfolio is continually evolving thanks to the ongoing repositioning and to the high rotation of the assets. Banimmo is listed on Euronext Brussels. Currently the company is held by the SIIC Affine (49.51%) and the management (24.9%) that have signed a shareholder agreement. The remainder, that is 25.59%, is in the hands of the public.