Gecina's Merger of Société Des Immeubles De France

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

Société des Immeubles de France At the Extraordinary General
Meeting on December 28th, 2007, chaired by Joaquin Rivero Valcarce,
shareholders voted to approve all of the resolutions put forward.

The merger of Société des Immeubles de France (Paris:IMFR) and
GECINA, applied retroactively to October 1st, 2007, was submitted to
and approved by shareholders during this Extraordinary General
Meeting. The exchange ratio retained, based on a multi-criteria
analysis, is 9 GECINA shares for 20 Société des Immeubles de France
shares.

This merger is in line with moves to streamline the GECINA group's
holding structure and rationalize its resources.

By becoming shareholders in GECINA, the Société des Immeubles de
France shareholders will be able to benefit from a better level of
liquidity on their securities.

Société Des Immeubles De France
Régine Willemyns
Tel: +33 (0)1 40 40 62 44

Copyright Business Wire 2007