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IMOLINA

A Luxembourg real estate company, wholly owned by Compagnie du Bois Sauvage.
The rents from the two buildings in Luxembourg have been collected regularly. They have been indexed in accordance with regulations in force. The company held 100% of Alora Invest shares as at 31 December 2009.



ALORA INVEST


A Luxembourg real estate company, wholly owned by the Group.
This company was created in 2007 in order to group certain Group real estate assets together. At 31 December 2009, it held the totality of the Group’s holding in the Cofinimmo Company.


The holding in Cofinimmo was the subject of a positive correction
in overall value to the value of EUR 3.80 million. In accordance with IFRS rules, this amount breaks down into a positive fair value correction via shareholders’ equity of EUR 10.5 million and a depreciation of EUR 6.7 million, which has been recorded in the income statement in accordance with the IFRS standards.