Home Invest Belgium NV

M&A Activity • Dec 18, 2014

PRESS RELEASE

18 DECEMBER 2014

The proportion of residential properties in Home Invest Belgium's portfolio has increased noticeably, and has almost passed the 80% threshold

Merger by absorption of Charlent 53 Leasehold SPRL

Sale of Hotel Adagio, located in Brussels 1000, Rue de l'Industrie 12

www.homeinvestbelgium.be

Merger by absorption of Charlent 53 Leasehold SPRL

On 12 December 2014, the Board of Directors of Home Invest Belgium decided to approve the absorption of Charlent 53 Leasehold SPRL. This transaction is treated as a merger by absorption of the said company under articles 676 and 719 of the Companies Code, which means it was not necessary for this merger to secure approval at an extraordinary shareholders' general assembly.

Since the entire capital of Charlent 53 Leasehold SPRL was held by Home Invest Belgium, no new shares have been created following the merger, in accordance with article 726 of the Companies Code. The shares in Charlent 53 Leasehold have been cancelled.

Home Invest Belgium has now become the direct title-holder of the long-term lease for Maurice Charlent building, located at the corner of Rue Maurice Charlent and Rue Jean Cockx, 1160 Auderghem. By way of reminder, this property is currently undergoing a major transformation into 127 studios.

Sale of Hotel Adagio, located in Brussels 1000, Rue de l'Industrie 12

On 18 December 2014, as part of its asset-divestment strategy, Home Invest Belgium sold the Adagio hotel, located at Rue de l'Industrie no 12, Brussels 1000, which is operated by Pierre & Vacances group, to the Kanam Group, acting in favour of its newly-opened LEADING CITIES INVEST fund.

The sale was made at a higher price than the latest investment value determined by the property experts of Home Invest, and significantly increases the residential buildings share in the portfolio.

Proportion of residential properties in the portfolio

With the completion of these two transactions, the residential-buildings share in the complete portfolio increased by 3.3% compared with its level at 30 September 2014, to stand currently at 79.5%, well in line with the target of 80% to be reached by early May 2015.

As of now, Home Invest Belgium's property portfolio is distributed as follows:

CEO Sophie Lambrighs concludes: "Home Invest Belgium is thus reaffirming its strategy as a specialist investor in residential properties for the rental market. Its shareholders will therefore continue to enjoy a reduced withholding tax of 15%, reserved exclusively for dividends paid by a residential regulated real estate company (RREC)."

For additional information:

Sophie Lambrighs Chief Executive Officer Home Invest Belgium SA Boulevard de la Woluwe 60, P.O. box 4, B - 1200 Brussels Tel: +32.2.740.14.51 E-mail: sophie.lambrighs@homeinvest.be

Home Invest Belgium is a public RREC in the residential category, established in June 1999 and listed on the continuous market of the NYSE Euronext Brussels (HOMI).

On 30 September 2014, the fair value of its operative real estate portfolio amounted to € 293.5 million.

The portfolio comprises 76 buildings spread across 45 sites and with a total surface area of ± 148,000 m² (excluding development projects and properties held for sale).

The activities of HIB are controlled by the Financial Services and Markets Authority (FSMA). On 30 September 2014, total market capitalisation of Home Invest Belgium amounted to € 254 million.

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www.homeinvestbelgium.be