Immobel NV

Major Shareholding Notification • Sep 24, 2013

Brussels, 24th September 2013 5.40 p.m. Regulated information

PRESS RELEASE

SHAREHOLDERS DECLARATIONS IN ACCORDANCE TO THE BELGIAN ACT OF 2ND MAY 2007

(REGARDING TRANSPARENCY)

In accordance with the Belgian Transparency Act of 2nd May 2007 on the disclosure of important shareholdings in listed companies, IMMOBEL hereby announces that it has received the following notifications on 19 th and 23rd September 2013:

• JER Audrey S.à r.l. has sold the balance of its participation in IMMOBEL (being 228,081 shares representing 5.53 % of the issued shares). As a result, its participation is below 3 %.
• Concomitantly Cresida Investment S.à r.l., a 100 % subsidiary of the Eastbridge Group, has acquired 199,914 supplementary shares of IMMOBEL (being 4.85 %).

Further to this transaction, the Eastbridge Group holds 1,230,398 shares, representing 29.85 % of the share-capital of IMMOBEL.

Please find attached further details regarding these two declarations.

For more information: Gaëtan PIRET*, CEO 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 150 years. It is also active in the Grand Duchy of Luxembourg and 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 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

FORM TR-1 BE
PART I

1) Status of the notification
-------------------------------	--	--	--	--

Final

2) Issuer

Name IMMOBEL Identification number 0405-988-675

3) Reason for the notification

Downward crossing of the lowest threshold
Acquisition or disposal of the control of an undertaking that holds a participating interest in an issuer

4) Notification by

________ A parent undertaking or a controlling person	_________	________

5) Persons subject to the notification requirement

Maote (& legal form for legal persons)	Address (for legal persons)
JER AUDREY S.A.r.I.	41, avenue de la Liberté, L-1931 Luxembourg
JER Europe Fund III Holdings S.a.r.l.	41. avenua de la Liberté, L-1931 Luxembourg
JER Europe Fund III, L.L.C.	porporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, Delaware 19
Europe Fund III, L.P.	200 East Randolph Drive, Chicago, IL 60601, USA
Europe Fund III, GP LLC	corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, Delaware 19
Jones Lang LaSalle Co-investment Inc.	to The Corporation Service Company, 801Adtal Stevenson Drive, Springfield, il. 62703, US
Jones Lang LaSalle Incorporated	to The Corporation Service Company, 801Adial Stevenson Drive, Springfield, IL 62703, US

6) Persons that dispose of, ... voting rights (Only to be filled in if art. 7 of the Law applies)

Name (& legal form for legal persons)	Address (for legal persons)
$-1$ the contract of the contract of the contract of the contract of the contract of $\sim$		-------

Please continue entering the information in part if concerning the
parsons referred to in points 5 and 6 Click

7) Date on which the threshold is crossed

r 18/09/2013 (DD/MM/YYYY)

8) Threshold that is crossed (in %)

$\overline{\mathbf{3}}$

If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10

9) Denominator

4 121 987

Please enter the denominator before filling in the data

$\color{red} \star$

10) Notified details

A) Voting rights	Previous notification	After the transaction
	# of voting rights		# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
JER AUDREY S.A.L.
Jones Lang LaSalle Incorporated
aubidul ser	STATISTICS IN THE STATISTICS OF THE STATISTICS OF THE STATISTICS OF THE STATISTICS OF THE STATISTICS OF THE ST	COLOR POST PLANE	A Torres I a se tempo d
	TOTAL

Start with "groups" of holders, Calculate subtotals and then finish with the
... Parama who are "alone".
The totals, subtotals and % will be updated once you have sitched on.

UALUULA II

H

$\mathbf{r}$

$\ddot{\bullet}$

$40 -$

B) Equivalent financial instruments		After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights
	TOTAL		(in relation to all expiration dates)

The fotals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial linstruments)	# of voling nonts	% of voting rights
CALCULATE	.

11) Chain of controlled undertakings through which the holding is effectively held, if applicable

Please describe, or join a diagram in attachment

---- ----- _____ See the attached chart ---------------------------------------
ALL AND RESIDENCE OF A 49-YEAR-OLD CHARLES CORPORATION ______ ______

12) In case of proxy voting for only one GM

Holder

will cease to hold /
will hold again

$\mathbf{0}$

voting rights as of

BRU4976922 / 1

13) Additional Information

A) Convertible bonds and rights to subscribe to voting securities not yet issued
Holder	Type of financial instrument	Expiration date (DD/MM/YYYYY)	Exercise/Conversion period or date	Number	# of voting rights that may be soquired if the instrument is exercised/converted
					$\ddot{\phantom{1}}$
B) Shares without voting rights
Holder	Number
					$\ddot{\phantom{1}}$
C) Remarks
Done at	Luxembourg
On
	19/09/2013	(DD/MM/YYYY)
Neme & capacity
	JER AUDREY S.a.r.i represented by Herve Marsot		Signature
	Jones Lang LaSalle Incorporated represented by Mark Engel		Signature

JER Audrey S.à r.l. - Immobel Investment Structure

$C_{1}$

FORM TR-1 BE

1) Status of the notification
	Final
2) Issuer
Identification number 0405-966-675	Name IMMOBEL
3) Reason for the notification
	Acquisition or disposal of voting securities or voting rights
	Acquisition or disposal of the control of an undertaking that holds a participating interest in an issuer
4) Notification by
	A parent undertaking or a controlling person
5) Persons subject to the notification requirement
	Name (& legal form for legal persons)	Address (for legal persons)
	Cresida Investment S.à.r.l.	5, rue Guillaume Kroll, L-1882 Luxembourg
	Evelyne Urbach
	6) Persons that dispose of, voting rights (Only to be filled in if art. 7 of the Law applies)
	Name	Address (for legal persons)
	(& legal form for legal persons)
	Please continue entering the information in part II concerning the	Click persons referred to in points 5 and 6
7) Date on which the threshold is crossed
	9/18/2013	(DD/MM/YYYY)
8) Threshold that is crossed (in %)
		3
		If the holding has fallen below the lowest threshold, you have the option of not entering any numbers under point 10
9) Denominator

$\frac{1}{2}$ 4,121,987

Please enter the denominator before filling in the data

10) Notified details

Previous notification A) Voting rights		After the transaction
	# of voting rights		# of voting rights		% of voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Cresida Investment S.a.r.l.	1,030,484	.230.398		29.85%
Evelyne Urbach				0.00%
subtotal	1,030,484	1,230,398		29.85%
TOTAL		1,230,398	0	29.85%	0.00%

Start with "groups" of holders. Calculate subtotals and then finish with the
mersons who are "alone".
The totals, subtotals and % will be updated once you have clicked on
cCALCULATE>

$\Phi$

B) Equivalent financial instruments	After the transaction
Holders of equivalent financial instruments	Type of financial instrument	Expiration date	Exercise period or date	# of voting rights that may be acquired if the instrument is exercised	% of voting rights
	TOTAL		(in relation to all expiration dates)	0	0.00%

The totals will be updated once you have clicked on

TOTAL (Voting rights & Equivalent financial instruments)		# of voting rights	% of voting rights
	CALCULATE	1.230.398	29.85% .

11) Chain of controlled undertakings through which the holding is effectively held, if applicable

Please describe, or join a diagram in attachment

See the attached chart

12) In case of proxy voting for only one GM

Holder	will cease to hold / will hold again	0	voting rights as of

13) Additional information

	A) Convertible bonds and rights to subscribe to voting securities not yet issued
Holder	Type of financial instrument	Expiration date (DD/MM/YYYY)	Exercise/Conversion period or date	Number	# of voting rights that may be acquired if the instrument is exercised/converted
					$\leftrightarrow$
B) Shares without voting rights
Holder	Number
					$\Phi$
C) Remarks
	Exercise of the option over 199.914 shares (4.85%) resulting in a downward crossing of the 3% threshold relating to the holding of equivalent financial instruments as referred to in heading 10) b)
Done at	Brussels
On
	23/09/2013	(DD/MM/YYYY)
Name & capacity
	Geoffroy Fink, proxyholder		Signature		$\Phi$

$\frac{1}{\sqrt{2}}$

Estate of Yaron Bruckner, Represented by his widow, Ms. Evelyne Urbach