Immobel NV

Earnings Release • May 15, 2012

Brussels, 15th May 2012 Under embargo: 17.40 Regulated Information

PRESS RELEASE

INTERMEDIATE STATEMENT

In accordance with the Royal Decree of 14th November 2007, IMMOBEL publishes the important events that have occurred since 1st January 2012:

In Belgium, an amendment to the lease for the rental of additional space (9,000 m² above ground and 3,000 m² below) in building D-F of the Belair site, which was developed by IMMOBEL as part of a joint venture, has been approved by the Council of Ministers of 1 st March 2012. As a result of this the whole of building D-F will be occupied by the Federal Police services.

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In Poland, the IMMOBEL Group has sold:

• 1. a non-strategic lot for a residential development of approximately 5,000 m² in Warsaw, on 5th March 2012.
• 1. as a particular opportunity had arisen, a 40 % stake (out of 50 %) in the shares of Bitra Sp. z o.o., which has a lot of approximately 65,000 m², located in Warsaw, for office development.

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IMMOBEL has also reinforced its development and management team in Poland.

IMMOBEL Poland now has a staff of close to twenty specialists with proven development expertise and the advantage of experience of the local market. This team will be charged with managing and developing the current portfolio and future projects.

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On 13th February 2012 IMMOBEL raised an extra 10 MEUR in addition to that raised by the private bond placement on 15th December 2011. The terms are the same as for the first, with the bonds due to mature on 21st December 2016 and 7 % interest payable annually on the expiry date. BNP Paribas Fortis acted as Lead Manager and Bookrunner.

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The IMMOBEL's General Shareholders Meeting will be held at the Hôtel NH Hôtel du Grand Sablon, rue Bodenbroek 2/4 in 1000 Brussels, on 24th May 2012 at 10.30 a.m.

The annual report for 2011 is available in digital version on the Company's website and may also be obtained from the Company's registered office.

For more information: Gaëtan PIRET*, Managing Director T. +32(0)2 422 53 23 * SPRL gaetan.piret@immobel.be

About IMMOBEL:

IMMOBEL has been a major player in property development in Belgium for over 145 years. It is also active in the Grand Duchy of Luxembourg and is currently developing a new growth pole in promotion projects in Central Europe, particularly in Poland. Its business covers the office, residential and landbanking sectors, as well as, when the opportunity arises, retail, ensuring the diversification of its portfolio of projects. Its vision of the market and its expertise allow it to design, promote and manage ambitious real estate projects that create long-term value, while respecting the environment and integrating the main issues facing society.

IMMOBEL is listed on Euronext Brussels as «IMMOBEL». For further information see: www.immobel.be