PR Newswire/Les Echos/
 
                                                                                      Paris, 13 May 2008



                           First Quarter 2008 Revenues


Key events during the period
Acquisitions
Foncière Europe Logistique undertook no acquisitions in the first quarter of 
2008.

Construction
As part of its growth model, the company is itself launching development 
projects to better partner with its customers in their growth. In the first 
quarter of 2008, Foncière Europe Logistique continued three significant 
construction projects begun in 2007 and started a new one:
  -    Continuation of the Bollène operation launched in the last quarter of 
2007, a major project in the Rhône Valley with the construction of the first 
building of the programme with a surface area of nearly 30,000 m2.
  -    Continuation of the redevelopment of the Corbas Mérieux asset, launched 
in the last quarter of 2007, on a 15,000 m² building on behalf of its future 
user Geodis.
  -    Continuation of the Dunkirk operation launched in mid-2007 with the 
construction of a first building of nearly 22 000 m2.
  -    Launch of the final portion of the Chalon operation to finalise a 
program for a state-of-the-art logistics park. This involves the construction 
of an 11,500 m2 building.


Optimisation of financial resources

Foncière Europe Logistique is optimising its financial resources by replacing 
short-term debt with long-term. Part of the bridge loan set up in July 2007 as 
part of the acquisition of the Garonor portfolio amounting to €90 million at 31 
December 2007 was repaid in the amount of €25 million on 13 February 2008 and €
17 million on 31 March 2008.

Consolidated revenue

In thousands of euros                       2008                        2007

First quarter                              25,780                       -


TOTAL                                      25,780                       -

For the record, Foncière Europe Logistique posted no revenue during the first 
quarter of 2007 due to changes in activity:
  -   Sale of its traditional industrial activity in overvoltage protection as 
part of a spin-off on 16 May 2007 with retroactive effect to 2 January 2007.
  -   New focus of the company as a Real Estate company operating in logistics 
and light industrial assets mid-June 2007.

The rental earnings from logistics activities were based mainly on the following
:
  -   The integration of SCI Percier UIS 062 St Quentin Fallavier on 15 June 
2007, which generated €284,000 in revenue in the first quarter of 2008.
  -   The integration of assets contributed by Foncière des Régions and Sophia 
GE on 24 July 2007. This transaction generated €10,640,000 in revenue in 2008.
  -   The integration of companies following the contribution by Foncière des 
Régions on 24 July 2007, which generated €2,691,000 in revenue in the first 
quarter of 2008.
  -   The acquisition of the Garonor companies on 31 July 2007. This operation 
generated €6,825,000 in revenue in 2008.
  -   The integration of assets injected by Morgan Stanley on 22 November, 
which generated €5,340,000 in revenue in 2008.



Upcoming financial events

25 July 2008: Publication of half-year results 2008


About Foncière Europe Logistique
Foncière Europe Logistique, 60% owned by Foncière des Régions, is a listed 
property investment company under France's SIIC regime (Société 
d'Investissements Immobiliers Cotée) and specialises in investment in logistics 
and business park facilities. At 31 December 2007, Foncière Europe Logistique 
held an asset portfolio valued at 1.4 billion euros, with assets located in 
France and Germany.
The company's investment policy is focused on building partnerships with its 
client-users, institutional investors and developers.
The Director of Foncière Europe Logistique is Marc Henrion.
Foncière Europe Logistique is listed on Euronext Paris, Eurolist compartment B (
FR0000064305 - FEL).


Contact:
Nicolas Ruggieri, Administrative and Financial Officer
Tel: +33 (0)1 58 97 51 12
nicolas.ruggieri@gfr.fr
See this press release on: www.fonciere-europe-logistique.fr

                         
The content and accuracy of news releases published on this site and/or 
distributed by PR Newswire or its partners are the sole responsibility of the 
originating company or organisation. Whilst every effort is made to ensure the 
accuracy of our services, such releases are not actively monitored or reviewed 
by PR Newswire or its partners and under no circumstances shall PR Newswire or 
its partners be liable for any loss or damage resulting from the use of such 
information. All information should be checked prior to publication.