Société de la Tour Eiffel : Société de la Tour Eiffel : 2012 annual turnover

 Société de la Tour Eiffel : Société de la Tour Eiffel : 2012 annual turnover

                   Turnover and EPRA occupancy rate stable,
           4.5% increase in rental income on a like for like basis

The company's consolidated turnover for 2012 amounted to € 82.4M, compared  to 
€ 82.3M for 2011, of which rents represented respectively € 69.5M and € 69.4M.
The stability of the turnover has been achieved despite approximately 110 M of
asset sales over the 2011-2012 period.

This rental outcome  results from  a combination  of rents  received on  newly 
delivered properties  (+€ 0.1M), net  relettings (+€ 0.6M)  and indexation  of 
passing rents (+€ 2.4M), set against property disposals during the said period
(- € 3M of rents).

On a like for like basis, rents increased by 4.5%.

                                            Consolidated turnover

(in M€)                     2012 2011
First quarter               20.7 20.2
Second quarter              20.7 20.8
Third quarter               20.4 20.9
Fourth quarter              20.6 20.4
Cumulated as at 31 December 82.4 82.3
Of which rents              69.5 69.4

The relative resilience of business  activity was further demonstrated by  the 
EPRA occupancy rate performance  of 91.6% for the  overall portfolio at  31^st 
December 2012 compared with 91.3% at 31^st December 2011.

Portolio evolution:
Disposals completed in 2012 globally amounted to  € 70M in line with the  last 
prevailing independent valuations, a further € 40M being under contract as  at 
31^st December 2012.

The net  asset value  as of  31^st  December 2012  amounted to  € 915M  to  be 
compared with € 999M a year ago and  € 955M in June 2012. The decline  results 
largely from asset  disposals but also  reduced property values  of 2.8% on  a 
like-for-like basis (compared with 31^st December 2011) principally concerning
provincial sorting  centers and  business  parks. Parisian  office  properties 
values that are core to the company's activity remain stable.

Other operational highlights for the 2012 fourth quarter:

  o finalized the refinancing program with the signing of a new 287M,  5-year
    loan. All the 2013 maturities have been refinanced or renegotiated by
    anticipation during 2012. The company's overall financing cost is
    extremely competitive (below 4%) with an average duration of more than 5
    years;

  o 24,500 m² of new lettings and lease renewals representing € 2.9M of annual
    rents including 3,000 m² in Chartres (revised occupancy rate 52%) for 18
    years;
     
  o the on-going construction of green LEB 5,200 m² office development in
    Montrouge (€ 23M of investment pre-financed in 2011); the delivery of
    which has been scheduled for the 2013 2^nd quarter;
     
  o the sale of the company's minority stake in a business park in Châtenay
    Malabry and of one of the buildings in the NXP Campus, Caen for an
    aggregate € 11M.

Calendar:  - 20^th  March 2013: 2012  results and new  strategy press  release 
after market close with  ensuing conference call in English
-   21^st March 2013: SFAF meeting in French (2012 results and new strategy)
                       - 30^th May 2013: Annual General Meeting

                                                                                
                                                                                                                                                                                                                

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 above  900 
million Euros  of  assets  spread  evenly  between  the  Paris  area  and  the 
regions.     
Société de la Tour Eiffel is listed  on NYSE Euronext Paris (compartment B)  - 
ISIN code : 0000036816 - Reuters : TEIF.PA - Bloomberg EIFF.F. Member of  IEIF 
Foncières and IEIF Immobilier France indices.

Press contact                         www.societetoureiffel.com                Communication
Jean-Philippe MOCCI                                                            Jerome DESCAMPS
Capmot                                                                 Chief Financial Officer
Tel:+33 (0)1 71 16 19 13/                                          Tel: +33 (0)1 53 43 07 06
+ 33
(0)6719118 83                                       
jpmocci@capmot.com                                     jerome.descamps@societetoureiffel.com
                                                                                              

Société de la Tour Eiffel - 2012 annual results

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