Foncière Paris France: Quarterly Report for the Period Ended 30 September 2009

http://www.businesswire.com/news/home/20091028006070/en

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

Growth in gross rental revenue to:

* €23.3 million for the first nine months of 2009

Foncière Paris France (Paris:FPF) today released its quarterly report for the
period ended 30 September 2009.

In € millions 2009 2008 % change
9 months 9 months
Gross rental revenue 23.3 21.4* + 9%
Nine months

"During the first nine months, our rental revenues increased and our development
projects continued according to plan," said Jean-Paul Dumortier, the Company`s
Chairman and Chief Executive Officer.Foncière Paris France now has a solid
balance sheet and sufficient investment capacity to support a new acquisition
programme in 2010 in an investment market that is showing signs of stabilising."

* After restating the Rueil property in 2008

BUSINESS REVIEW

* Rental activity
There was little movement in the tenant base during the first nine months of the
year.
The lease with Sagem Communication for the property in Rueil Malmaison took
effect on 1 February 2009 and new leases were signed in the third quarter for
units in a property in Epinay that was acquired with vacant possession last year
and was remodelled and renovated during the first half. Small vacant units in
other properties were also let during the period.
Rent reductions were negotiated by a few tenants during the period but they have
not had a material impact on revenue.

* Developments

* Studios du Lendit: Comprising a recording studio and offices, this 24,000-sq.m
NFA project is a key component of the television production district being
created in northeastern Paris as part of the French government`s "Grand Paris"
project. The program is scheduled for delivery in the third quarter of 2010.
* Mediacom 3: This approximately 4,500-sq.m property will be the first
positive-energy office building in the Greater Paris area. Construction work
began at the end of March and is proceeding according to plan, with delivery
scheduled for October 2010.

* Acquisitions
Only one property has been acquired since the beginning of the year. Located in
Saint-Ouen, a northern suburb of Paris, it comprises approximately 2,360 sq.m.
of mainly business premises and represents an investment of €2.2 million
excluding transfer costs.

* Disposals
No properties were sold during the first nine months of 2009.

ASSET PORTFOLIO AND ASSET VALUE

* At 30 September 2009, the asset portfolio (excluding developments) represented
a total surface area of around 213,000 square meters.
It was comprised of 41 commercial properties, of which 76% office buildings and
24% business premises.
The assets are located 35% in Paris, 46% in the inner suburbs and 13% in the
outer suburbs.

* No portfolio valuation is performed at 30 September.
Based on the 30 June 2009 valuation, the appraisal value of the portfolio at 30
September 2009 was €410.6 million excluding transfer costs and the gross rental
yield, excluding properties undergoing renovation or development, stood at
8.5%.

FINANCIAL REVIEW

* Revenue for the first nine months of 2009 came to €23.3 million, up 9% from
€21.4 million in the same period of 2008.
* Debt totalled €188.2 million at 30 September 2009. The average maturity is 4.9
years and the average interest rate over the first nine months was 4.7%.
After deducting €52.1 million in cash and cash equivalents, net debt stood at
€136.1 million.

OUTLOOK

Foncière Paris France is continuing to develop its projects according to the
initial plan. Backed by a solid balance sheet, the Company is positioned to take
advantage of investment opportunities as they arise, in line with its
acquisition strategy.

Excluding any unforeseen non-recurring items, the Company expects to report
further growth in current cash flow per share in 2009.

ABOUT FONCIÈRE PARIS FRANCE

Foncière Paris France is an SIIC specialized in commercial real estate in the
greater Paris region. The Company was founded in May 2005 by Jean-Paul
Dumortier, President of the Fédération des Sociétés Immobilières et Foncières.

Foncière Paris France is listed on the NYSE Euronext (Paris), Compartment B, and
is included in the CAC Small 90 and SBF 250 indexes (symbol: FPF; ISIN:
FR0010304329).

www.fonciereparisfrance.fr

FONCIÈRE PARIS FRANCE
Didier Brethes - Chief Operating Officer
didier.brethes@sfpif.com
01 43 12 39 00
or
LT VALUE
Investor Relations and Corporate Communications
Nancy Levain / Maryline Jarnoux-Sorin
nancy.levain@ltvalue.com / maryline.jarnoux-sorin@ltvalue.com
01 44 50 39 30 - 06 72 28 91 44

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