SFL - THIRD QUARTER 2009

http://www.businesswire.com/news/home/20091109006295/en

Nine-month property rentals: €139.5 million, up 3.2%
PARIS--(Business Wire)--
Regulatory News:

SFL (Paris:FLY):

Consolidated revenue by business segment (€ 000`s)

9 months 2009 9 months 2008
Property rentals 139,455 135,172
o/w Golden Triangle 52,178 51,876
Financial District 49,324 44,831
Golden Crescent - La Défense 27,552 26,676
Other 10,402 11,789
Other revenue 182 204
Total revenue 139,637 135,376

Consolidated property rentals for the nine months ended 30 September 2009
amounted to €139.5 million compared with €135.2 million for the same period of
2008, an increase of €4.3 million or 3.2%. On a comparable portfolio basis,
property rentals were up 5.2%, led by further indexed rent increases in 2009.
The impact on rents of the decline in the latest index will not be felt until
2010.

At 30 September 2009, the occupancy rate (excluding properties undergoing
renovation) was stable at 93.6% compared with 30 June 2009. The main vacant
units at that date were in the building at 103 rue de Grenelle, where more than
10,000 square metres of floor space were yet to be let.

Leases on 11,500 square metres of floor space - mainly in the Louvre and 96
avenue d`Iéna buildings - were signed or renewed during the first nine months of
the year, even though the rental market remained flat. No buildings were sold or
acquired during the third quarter.

Net debt at 30 September 2009 was stable compared with 30 June, amounting to
€1,112 million and representing 34.1% of the portfolio`s 30 June valuation.

Company
SFL
Nicolas Reynaud
Phone: + 33 (1) 42 97 01 65
n.reynaud@fonciere-lyonnaise.com
or
Communication
INFLUENCES
Media contact: Catherine Meddahi
Phone: + 33 (1) 44 82 67 07
c.meddahi@agence-influences.fr

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