Covivio — Board/Management Information 2010

Nov 15, 2010

Paris, 15th November 2010

Foncière des Régions: changes to the shareholder structure and governance

At its meeting on 15th November 2010, Batipart informed the Supervisory Board of the sale of a significant part of its holding in Foncière des Régionsto Delfin, Predica and Assurances du Crédit Mutuel Vie (ACM Vie). As a result, the shareholder structure of Foncière des Régions is as follows:

Shareholder Structure of Foncière des Régions

In light of this, Charles Ruggieri, Chairman and Chief Executive of Batipart, announced his decision to step

down as Chairman of the Supervisory Board of Foncière des Régions. Jean Laurent was co-opted and appointed Chairman of the Supervisory Board of Foncière des Régions to succeed Charles Ruggieri.

The Supervisory board confirmed the strategic direction to be taken by Foncière des Régions: a real estate company focused on office properties, leader of its sector in Europe, working in partnership with major corporates, having a critical mass and a significant stock market status. The Board intends to favour positioning focused on offices and its objective is to continue simplifying the organisational structure of Foncière des Régions.

It was also decided to propose to an Extraordinary General Meeting of Shareholders which is to be held before 31 January 2011, the discontinuance of the current dual governance (Supervisory Board and Management Board) in favour of a Board of Directors pursuant to work carried out in recent months by a Supervisory Board committee. At this meeting, the governance of the company will be remodelled, in compliance with the principles of the AFEP-MEDEF Code, in particular by separating the roles of Chairman of the Board of Directors and the Chief Executive Officer and the strengthened presence of non-executive directors to the Board. Press Release

Jean Laurent will take up the role of Chairman of the Board of Directors. Jean Laurent was previously Managing Director of Crédit Agricole SA (1999 – 2005). He headed the group when it was listed on the stock market and also crafted its merger with Crédit Lyonnais.

Christophe Kullmann, current chairman of the Management Board, in whom the Board reiterates its full confidence, will continue to lead the company's management team and will be appointed Chief Executive Officer.

The Supervisory Board wishes to express its warm thanks to Charles Ruggieri for his exceptional contribution in creating a major player in the property sector, in the space of only ten years. It wishes him as great a success in his new projects as he experienced with Foncière des Régions.

Tel: + 33 (0)1 58 97 52 04

Sébastien Bonneton Tel: + 33 (0)1 58 97 52 44 sebastien.bonneton@fdr.fr

Investor relations Philippe Le Trung philippe.letrung@fdr.fr Press relations Philippe Boyer Tel: + 33 (0)1 58 97 52 23 philippe.boyer@fdr.fr

About Foncière des Régions

Foncière des Régions, real estate partner

Foncière des Régions is a major listed real estate company with unique characteristics:

A Real estate company focused on offices

The real estate partner of large corporates (France Telecom, EDF, Accor, Dassault Systèmes, Suez Environnement, Telecom Italia, etc)

Highly visible rental income

A continuous asset enhancement strategy (property quality and efficiency, environmental performance, etc)

A listed real estate investment company (SIIC), Foncière des Régions also successfully applies its business model as a real estate partner to other business sectors (logistics, business premises, etc.).

Foncière des Régions is listed on Euronext Paris Compartment A (FR0000064578 - FDR) and admitted to the DSS. Foncière des Régions shares are a component of MSCI, SBF 120, Euronext IEIF "SIIC France" index, the CAD Mid100 as well as other European real estate indices including EPRA and the GPR 250.

Key figures at the end of June 2010

€8.6 bn assets (Group share)

• 337 staff throughout France
• 7 regional departments in France

To learn more: www.foncieredesregions.fr