Immobel NV

M&A Activity • Jul 14, 2014

Brussels, 14 th July 2014 5.40 pm Regulated information

PRESS RELEASE

IMMOBEL, BESIX RED and CLI sell the company that owns "Galerie Kons" project in Luxembourg to AXA BELGIUM

The project comprises 20,500 m² above ground, including +/- 14,600 m² of offices, 2,400 m² of retail space and 3,500 m² of housing.

A surface of 10,000 m² offices has been pre-let to ING through a long-term lease. ING will install its Luxembourg headquarters there as soon as the works are completed; this is scheduled for the 2nd semester of 2016.

1,800 m² of retail space have also been pre-leased to the current tenant, Primavera.

The transfer of the project to AXA Belgium represents a total investment volume in the order of 150 million euros.

Within the scope of its investment policy, AXA Belgium was attracted by the outstanding quality of the location (opposite the railway station), by the technical and environmental performance of the project, which is intended to achieve at least the BREEAM certification "very good" and by the long term presence of ING, which is a first rate tenant.

The transfer of the company is subject to the delivery and acceptance of the building; this is scheduled for the second half of 2016.

For further details:

Gaëtan Piret*, Managing Director, IMMOBEL T. : +32(0)2 422 53 23 * SPRL gaetan.piret@immobel.be

Gabriel Uzgen, Managing Director, BESIX RED T. : +32(0)2 402 66 75 guzgen@besixred.com

Jacques Lefèvre, Managing Director, CLI T. : +32 (0)2 663 60 10 jlefevre@bpisa.be

Valentine Vaquette, Spokesperson, AXA Belgium Communication & Corporate Responsibility T. : +32 2 678 89 91 valentine.vaquette@axa.be

About IMMOBEL:

IMMOBEL, listed on Euronext Brussels since 19th September 1863, is since 150 years a major player in property development in Belgium. It is also active in the Grand Duchy of Luxembourg and in Poland. Its business covers the office, residential and landbanking sectors, ensuring the diversification of its portfolio of projects. Its vision of the market and its expertise enable it to design, develop and manage ambitious real estate projects that create long-term value while respecting the environment and integrating the major issues facing society.

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

About BESIX RED:

BESIX Real Estate Development, BESIX RED, is a property development company with three business lines: Office, Residential and Distribution & Services.

BESIX RED is a subsidiary of the BESIX Group, a construction company with an international reputation. In addition to its 25 years of experience, BESIX RED relies on the strength of a group which has existed for more than a century.

Its team brings together the greatest talents who serve the specific interests of clients with high-performance developments: maximizing convenience of occupancy and optimization of the environmental, economic and technical factors.

About CLI: Compagnie Luxembourgeoise Immobilière:

CLI conceives, designs and realises top-quality innovative real estate projects with human dimensions that incorporate the notion of sustainable development. CLI is active in the development of offices, residential and retail real estate projects.

CLI is part of the CLE group, which is the Luxembourg subsidiary of the CFE group.

CFE is an industrial Belgian Group active in six different activities : Dredging and Maritime Engineering, Construction, Rail and Road, Multitechnics, Real Estate Development and Management Services, Public-Private Partnership and Concessions.

Based in Belgium, the group is very active in neighbouring countries, Central Europe and Africa. His first activity, dredging and maritime engineering, is executed by DEME, subsidiary at 100%, that is active across the globe. The Group CFE is listed on Euronext Brussels and 60.40 % owned by Ackermans & van Haaren.

About AXA Belgium:

Three million clients, 1 out of 2 families, prefer AXA for their insurances or bank activities. To serve them, AXA is working with 5000 brokers, 920 bank agents and more than 4500 employees. In 2012, AXA Belgium realized a revenue of 4,1 billion EUR. The total assets under management of AXA Belgium represent € 40 billion, including € 3.1 billion in real estate investments.