PRESS RELEASE Sicafi 2006 Brussels, 12 October 2006

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PRESS RELEASE Sicafi 2006 Brussels, 12 October 2006 Powered By Docstoc
					                                  PRESS RELEASE


                                      Sicafi 2006



Brussels, 12 October 2006.


As was reported in our press release of 15 September 2006 Cofinimmo was chosen on
that day by the Council of Ministers as Real Estate Partner for the creation of a new
property company under the sicafi regime. On 25 September 2006 bidders who were not
retained summoned the Belgian State in writs to the State Council to suspend this
decision and this was reported in our press release of 26 September 2006.

In a decision communicated yesterday 11 October 2006, the State Council suspended the
execution of the decision of the Council of Ministers of 15 September 2006 to grant to
Cofinimmo the real estate services contract for the establishment of the new sicafi. The
State Council motivates its opinion by a formal flaw in the administrative procedure
followed but does neither address the content of Cofinimmo’s offer nor the process of
negotiations conducted with Cofinimmo.

Cofinimmo has taken notice of this judicial decision and is now awaiting decisions of the
Government in relation to the administrative procedure.


                                                    For more information:


                                                    Jean-Edouard Carbonnelle
                                                    Chief Financial Officer
                                                    Tel: +32 2 373 00 05