Covivio Hotels — Share Issue/Capital Change 2012

Mar 20, 2012

March 20t^h , 2012

of FonciËre des Mursíequity warrants by des RÈgions

FonciËre des Murs has been informed by FonciËre des ^RÈgions of the purchase from Assurances du CrÈdit Mutuel Vie of allof their FonciËre des Murs^í equity warrants (9,192,039 equity warrants) for ^Ä0.2 each.

About FonciËre des Murs in

des Murs SCA, ^a subsidiary of FonciËre des RÈgions, is specialised in business premises, especially the hotel, healthcare and retailpremises sectors. At December 31, 2011, the companyí^s assets were valued at Ä2.9 billion. The average length of leases is ⁸ years and the occupancy rate is 100% with top-tier tenants. Partner of leading companies of the business premises sector, FonciËre des Murs is headed by Dominique Ozanne, General Manager and Member of the Board of Directors of FonciËre des RÈgions and listed on Compartment^B of the regulated market of NYSE Euronext in Paris under ISIN code FR0000060303-FMU

des Murs

^CÈcile Boyer . General Secretary Tel.: +33 (0)1 58 97 54 47 cecile.boyer@fdr.fr

See this press release at www.foncieredesmurs.fr

Information This

press release does not constitute an offer to sell or subscribe or ^a solicitation of an order to buy orsubscribe securities in any country. In France, securities may notbe offered absent ^a prospectus approved by the AutoritÈ des marchÈs financiers. Thedistribution of this press release may be restricted in certain countries by applicable laws and regulations. Persons

who are physically located in those jurisdictions and in which this press release is circulated, published or distributed must inform themselves about and observe such restrictions. Thesecurities that may be issued as part of this share capital increase have not been and will not be registered

the United States Securities Act of 1933, as amended (the ´ Securities Act ª) and may not be offered or sold in the United States absent such registration or an applicable exemption from the registration requirements of the Securities Act. FonciËre des Murs does not intend to register any portion of the planned offering in the United States or to conduct ^a public offering of securities in the United States. This press release does notconstitute ^a public offering of securities in the United Kingdom.. This press release is directed

only at persons who (i) are located outside the United Kingdom, (ii) have professional experience in matters relating to investments and fall within Article 19(5) (´ investment professionals ª) of the Financial Services and Markets Act2000 (Financial Promotions) Order 2005, as amended (the ´ FSMA ª), (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FSMA or (iv) are persons to whom this press release may otherwise lawfully be communicated (all such persons together being referred to as ´ Relevant Persons ª). Any person other than ^a Relevant Person may notact or rely on this document or any provision thereof. Any investment or investment activity to which this presentation relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Thispress release may notbe published, forwarded or distributed, directly or indirectly, in the United States, Canada,

Australia or Japan.