ISIN code
Trading location
Real Estate Investment Trusts
Website address
Issuer website
IPO date
IPO type

Global Placement and Open Price Offer</p>

IPO price
31.80 euros
IPO type
Initial Public offering
Operation procedure

Conditions applying to both Global Placement and Open Price Offer The first share price will be set at the end of the OPO and will take account of the demand expressed in the Global Placement. The price of the Global Placement and the OPO will be identical. The final share price will be set on March 28, 2006, after centralisation of the OPO and should be published by Euronext Paris in a notice that same day. The final share price may be set outside the mentioned price range. Characteristics of the Global Placement Before first quotation, a proportion of the shares will be distributed under the Global Placement, directed to institutional investors, in France and in some countries, excluding USA. - Number of shares: 3,453,593 shares, i.e. 90% of the offered shares, excluding the exercise of the over allocation option. - Underwriters: BNP Paribas - Natexis Bleichroeder SA Characteristics of the Open Price Offer The OPO is meant for retail investors, investing legal entities and &quot;FCPs&quot;. - Number of shares: 383,733 shares, i.e. 10% of the total number of offered shares, excluding the exercise of the over-allocation option. Subject to demand, the allocation to the OPO may be increased or decreased before allocation.</p>

Operation description
Operation calendar

- Period of the Placement : from March 21 to March 28, 2006 (12:00) - Period of the OPO: from March 21 to March 27, 2006 (17:30) - First quotation: March 28, 2006 - Beginning of trading: March 29, 2006</p>

Price range
31.80 euros – 36.96 euros
Broker to issue

BNP Paribas<br />
Natexis Bleichroeder</p>