Compagnie d'Entreprises CFE SA — M&A Activity 2011

Jan 10, 2011

PRESS RELEASE Under embargo until Tuesday 21 December 2010 – 22.00 CET CFE

PPP Eupen Schulen wins the contract for the building, renovation and

maintenance of the schools in the German-speaking Community

The German-speaking Community of Belgium, signed today, 21 December 2010, with the Company "PPP Schulen Eupen SA" (consisting of CFE, SKE Facility Management GmbH - VINCI's German facilities management subsidiary, and the investment fund "DIF Infrastructure II B.V.") a DBFM contract to design, build and renovate schools on three sites in the city of Eupen.

This project represents an investment of 146 million euros (construction costs + financing costs + ancillary costs + VAT) and an annual maintenance budget of 3 millions indexed.

Finance for a period of 27 years will be provided by a consortium of banks consisting of Fortis Bank, KBC Bank, ING Belgium and Dexia Bank Belgium.

Filing of all building permit applications is scheduled for mid-January 2011 and works are expected to start in July 2011. Delivery of the last building is scheduled for end 2013.

The project covers the three sites listed below:

• "Robert Schuman Institut" and "Zentrum für Aus-und Weiterbildung des Mittelstandes Eupen (ZAWM)",
• Königliche Athenäum Eupen,
• The site housing the "Deutschsprachigen Gemeinschaft für Sonderrunterricht Eupen", the "Autonome Hochschule", the "Städtischen Grundschule Unterstadt" and the "Französischsprachige Primarschule Eupen".

The total construction area is 64,000 sq.m. including 46,200 sq.m. of new buildings, the remainder consisting of structures to be renovated.

The Client places particular importance on the energy performance of all the new or renovated facilities. New classrooms will be built to "passive-energy" standards, workshops and sports facilities to "low energy" standards and energy optimisation solutions will be incorporated in the buildings to be renovated. In the framework of the 25-year maintenance contract, the consortium is required to provide financial guarantees covering the schools' energy consumption.

The construction works will be carried out by general contractors CFE and SKE associated in a 50/50 joint venture consisting of:

• BAGECI, based in Naninne, representing CFE in the Walloon region
• Bauunternehmung Ehrenfels GmbH, representing SKE, based in Karlstadt.

Maintenance will be handled by a special-purpose company "PPP Betrieb Schulen Eupen SA" whose shareholders are SKE Facility Management GmbH (75%) and CFE (25%).

Under embargo until Tuesday 21 December 2010 – 22.00 CET - 2 regulated information

CFE is a multidisciplinary group of companies active in construction and associated services, quoted on Euronext Brussels and of which VINCI holds 47% of the capital. CFE is one of the important actors in the construction industry in Belgium and is also present in the Netherlands, Luxemburg and in Central Europe. CFE owns 50% of DEME, one of the world's leading dredging contractors.

This press release is also disposable on www.cfe.be.

More info :

• Renaud Bentégeat, Managing Director, mobile +32.(0)0497/514.445, rbentegeat@cfe.be
• or Jacques Ninanne, Deputy general manager corporate Chief Financial Officer, tel. +32.(0)2.661.17.28, jninanne@cfe.be