Foncière Paris France: Quarterly financial report for the period ended 31 March 2010

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* Gross rental revenue:

* €7.8 million in first-quarter 2010
* Up 7.4% compared with first-quarter 2009

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

Foncière Paris France (Paris:FPF) today released its quarterly report for the
period ended 31 March 2010.

In € millions Q1 2010 Q1 2009 % change
Gross rental revenue (first quarter) 7.8 7.2 +7.4%
Assets 379.6 390.6

*Value of leased and leasable properties on the basis of the asset appraisal at
31 December

"Our current projects are proceeding according to plan and at 31 March 2010,
Foncière Paris France had a portfolio of high-yield, secure assets," said
Jean-Paul Dumortier, the Company`s Chairman and Chief Executive Officer. "We
have sufficient investment capacity to take advantage of growth opportunities in
the market."

BUSINESS REVIEW

* Rental activity

There was little movement in the tenant base during the first quarter and the
financial occupancy rate was 93.2%, compared with 93.7% at 31 December 2009.

Since 1 January, the Company has signed several leases for a total of
4,350square metres of surface area.

* Developments

Studios du Lendit & Lendit Lumière: Work is proceeding according to plan, with
delivery scheduled for third-quarter 2010. The office space is currently being
marketed.

Mediacom 3: Work is continuing as scheduled on this 4,500-square-metre program,
which is to be delivered in fourth-quarter 2010. This rental property is
currently being marketed.

* Acquisitions / Disposals

No properties were acquired or divested during first-quarter 2010.

ASSET PORTFOLIO AND ASSET VALUE

* At 31 March 2010, the asset portfolio was comprised of 43 commercial
properties, including the two above-mentioned programs in development. The 41
leased and leasable buildings represent a total surface area of 213,000 square
metres.

Of the total, 75% are office buildings and 25% are business premises.

The assets are located 33% in Paris, 55% in the inner suburbs and 12% in the
outer suburbs.

* No portfolio valuation was performed at 31 March 2010. On the basis of the
asset appraisal (excluding transfer costs) carried out at 31 December 2009, the
value of leased and leasable property amounted to €379.6 million, with a gross
rental yield of 8.2%.

FINANCIAL REVIEW

* Consolidatedrentalrevenue amounted to €7.8 million for the first three months
of the year, a 7.4% increase over first-quarter 2009.
* Debt totalled €189.2 million, with an average maturity of 4.7 years and an
average cost of 4.5% for the first quarter. Undrawn bank facilities at 31 March
2010 totalled €47 million.

After deducting €43.2 million in cash and cash equivalents, netdebt stood at
€146 million.

* On the basis of the asset appraisal carried out on 31 December 2009, revised
upwards for development work carried out during the first quarter, the loan to
value ratio (net debt/assets excluding transfer costs) was 33.7% at 31 March
2010.

OUTLOOK

In the second half, Foncière Paris France will deliver two programs currently
being developed in Saint Denis and is actively marketing the properties. Backed
by a solid balance sheet, the Company is in a position to take advantage of
investment opportunities as they arise, in line with its acquisition strategy.

ABOUT FONCIÈRE PARIS FRANCE

Foncière Paris France is an SIIC specialised 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
+33 1 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
+33 1 44 50 39 30 - +33 6 72 28 91 44

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