Gecina:Definitive abandonment of the implementation of the Separation Agreement General Meeting date

PARIS--(Business Wire)--
Regulatory News:

Gecina (Paris:GFC):

At the Board meeting on April 7, 2009, Gecina's Directors looked into the
feasibility of implementing the Separation Agreement entered into between
Metrovacesa`s former shareholders, Messrs Rivero, Soler and the Sanahuja family,
in view of the changes in the economic environment. It acknowledged, after being
informed by its ad hoc committee of independent directors about the analysis
performed by the advisor Calyon and the independent expert UBS, that the
implementation of the provisions concerning Gecina in the Separation Agreement
would be against the company`s best interests and would lead to an unacceptable
situation for the Company.

Noting that Gecina is not a party in this Separation Agreement and is therefore
under no obligation to implement the operations provided for in it, the Board of
Directors has decided to definitively abandon the implementation of the
Separation Agreement.

Today's decision will enable Gecina to focus all its efforts on its development,
consolidating its privileged position for carrying out projects creating strong
added value and returns for its shareholders.

*******

Furthermore, the Board of Directors has set the date for the next Combined
General Meeting, which will be held to approve the accounts for 2008 on May 20,
2009. During this General Meeting, it will be putting forward a proposal to pay
out a dividend of 5.70 euros per share for 2008, representing an increase of
+13.8% compared with the 2007 dividend. Subject to approval by the General
Meeting, the balance on this dividend, which represents 3.20 euros, following
the 2.50 euro interim dividend already paid out, will be paid in cash on June 1,
2009.

Gecina, a leading European real estate group

A French real estate investment trust (Société d'Investissement Immobilier
Cotée, SIIC) listed on Euronext Paris, Gecina owns and manages a portfolio
valued at over 12 billion euros at December 31, 2008, primarily made up of
office and residential properties located in Paris and the Paris Region. Over
the last few years, Gecina has diversified into new segments: hotels,
healthcare, logistics and student residences.

The Gecina foundation

In line with its commitment to the community, Gecina has created a company
foundation, which is focused on protecting the environment and promoting
accessibility for disabled people.

www.gecina.fr

GECINA:
Laurence Chalmet
Tel: +33(0)1 40 40 52 22
Régine Willemyns
Tel: +33 (0)1 40 40 62 44
PRESS
KEIMA Communication
Alix Hériard-Dubreuil
Tel: +33 (0)1 56 43 44 62
alix.heriard@keima.fr

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