SOURCE: Société de la Tour Eiffel

April 21, 2008 13:25 ET

Société de la Tour Eiffel : to launch "Parc Eiffel" brand for its business park

A unifying brand

PARIS--(Marketwire - April 21, 2008) - Société de la Tour Eiffel (STE) is to reposition its 12 business parks located across France under the "Parc Eiffel"® brand with a view to enhancing their identity and strategic image.

The 12 parks (11 of which are majority owned by the company) extend to 326 000 m(2), of which 250 000 m(2) is in service, 26 500 m(2) is under development and 50 000 m(2) represents development potential. Some 413 tenants occupy a total of 173 buildings.

The majority of these parks were conceived and developed some 20 years ago by the Bank Pallas. Following the failure of that establishment during the 1990s property downturn, ownership of the parks was dispersed between the shareholders. STE has already achieved a major measure of ownership reconsolidation by the acquisition of the Locafimo and Parcoval portfolios and aims to continue with the acquisition of outstanding minority interests wherever the opportunity arises.

The parks have evolved since conception away from predominantly light industrial to office user reflecting the gradual swing in the French economy to the service sector. They are now constituted predominantly by offices located on the periphery of major towns offering adaptable, efficient space with ample parking and landscaping at moderate rents.

The rebranding is to create a chain concept embrassing communal services offering synergy and standardization. The key objective is quality of space and working environment.

National cover and development potential

The parks are located close to the major economic centres, be it in the Paris region (Orsay Université, Le Bourget, Chartres), the western seaboard (two parcs in Nantes, Bordeaux-Mérignac), the south east (Lyon, Marseille, Aix-en-Provence, Montpellier) or the north east (Lille and Strasbourg).

The parks already enjoy predominance in their respective locations and benefit from a buoyant leasing market. Recently, at the Parc du Millénaire in Montpellier 3 000 m(2) were leased to Pacifica (subsidiary of Crédit Agricole), Agilent et Publicis Melody. Meanwhile, at the Parc du Moulin à Vent in Lyon, Spie Trindel rented 1 620 m(2) and at le Parc du Golf in Aix-en-Provence new deliveries were totally prelet (Regus 9-year closed lease for 1 200 m(2), DEF 9-year closed lease for 880 m(2) and Inside 6-year closed lease for 905 m(2)).

Tenant negotiations are also currently in hand for new units at the parks in Marseille (Les Aygalades - La Mazarade), Le Bourget (Parc de l'Espace), Nantes (Connemara) and Bordeaux (Parc Cadera), whereas the turn-key market is very lively in Aix-en-Provence.

As a token of the quality of the services offered, new deliveries are systematically prelet.

The average rent breaks back to 110EUR /m(2) whereas new units lease for 120-140 EUR /m(2). The average service charge is a modest 20EUR /m(2).

Service and innovation

The company has dedicated a team of 4 people, with its asset management team Awon, to the development of the Parc Eiffel concept. In addition to the upgrading of existing buildings and development of site reserves, active management and provision of services add to the standardization of these assets. Rental management is assumed by an external specialist firm Parcomie.

Restaurant facilities, improved public transport (in close liaison with local authorities), a dedicated web site are part of this drive.

" We are proud to launch the Parc Eiffel label as a mark of quality and attractive working environment, comments Robert Waterland, Managing Director of Société de la Tour Eiffel. In addition to improving the level of service and space we aim to be identified amongst the leaders in the business park sector in France ".

+-------------------------+
|STE’s Business parks     |
+-------------------------+
|to be branded Parc Eiffel|
+-------------------------+
|Parc des Prés in Lille   |
|Parc du Moulin à Vent in |
|Lyon                     |
+-------------------------+
|Parc de l’Espace in Le   |
|Bourget Parc Cadera in   |
|Bordeaux                 |
+-------------------------+
|Parc de l’Université in  |
|Orsay Parc du Golf in    |
|Aix-en-Provence          |
+-------------------------+
|Parc Business Park in    |
|Chartres Parc du         |
|Millénaire in Montpellier|
+-------------------------+
|Parc du Perray and Parc  |
|du Connemara in Nantes   |
|Parc des Aygalades in    |
|Marseille                |
+-------------------------+
|Parc des Tanneries in    |
|Strasbourg               |
+-------------------------+
+-------------------------+
About Société de la Tour Eiffel

A " SIIC " quoted on the Euronext Paris Exchange, the company pursues a strategy focused on the ownership and the development of quality office and business space capable of attracting a wide range of tenants in both established and emerging locations. The company's portfolio stands out in excess of 1.2 billion Euros of assets spread evenly between the Paris area and the regions.

Contact

Robert WATERLAND, Managing Director

Tél. : +33 (0) 1 53 43 07 06

Web site www.societetoureiffel.com

Press Contact

Jean-Philippe MOCCI, Capmot

jpmocci@capmot.com

Tél : +33 (0)1 77 10 05 48 / (0)6 71 91 18 83

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