PR Newswire/Les Echos/

ACTIVITY AND INTERIM FINANCIAL STATEMENTS TO 30 JUNE 2009

On 23 July 2009, the Board of Directors reviewed the activity and approved the
interim company and consolidated financial statements for the period from 
12 February 2009 to 30 June 2009.

Following CFI's election to the SIIC regime and the closing of its first
investment in a portfolio of 12 cinema property as sets leased to UGC Ciné
Cité, CFI reports its first set of consolidated financial statements prepared
in accordance with International Financial Reporting Standards.

As at 30 June 2009, the property portfolio has been appraised by CB Richard
Ellis (CBRE) at a value of EUR200.8 million (net of costs and transfer tax).
This valuation, based on the discounted cash flow methodology applied by the
independent appraiser, reflects the new profile of the portfolio resulting from
the agreements with UGC Ciné Cité, in particular the signing of new 12-year
investor-type leases simultaneously with the acquisition.

On that basis, CFI reports a net income for the period of EUR51.0 million, of
which EUR26.7 million is attributable to shareholders, mainly driven by the
change in fair value of the property portfolio. Net rental income for the period
came to EUR4.9 million, while operating expenses (including recurring
administrative costs, as well as one-off costs related to the exercise of a
purchase option embedded in UGC Lille financial lease) amounted to EUR0.95
million and interest costs to EUR2.15 million.

CFI's Net Asset Value attributable to shareholders (net of costs and transfer
tax) amounted to EUR53.4 million, or EUR62.62 per share.

Outlook
In an environment of ongoing real estate asset re-pricing, CFI is in a position
to seize new opportunities that would meet its value creation targets.

72, rue du Faubourg Saint-Honoré 75008 Paris / Tél. 01 40 07 81 03 / 
Fax. 01 40 07 85 12 / www.cfi-france.com
Société Anonyme au capital de 25 625 720 euros / 542 033 295 R.C.S Paris /
FR 45 542 033 295

Financial highlights from the consolidated financial statements 
Expressed in thousands of euros unless otherwise indicated

                                  2009              2008
                                30/06 (1)         30/06 (2)
                              (4,5 months)       (6 months)
Net rental income                 4,925               -
Change in fair value             49,236               -
Operating profit                 53,209            - 317
Net profit                       51,012              242
Minority interests (3)           24,335               -
Net profit attributable to
shareholders                     26,677              242
   per share (EUR)                31.25             0.28
Of which recurring net profit 
attributable to shareholders      1,908              242
   per share (EUR)                 2.24             0.28
Net asset value attributable 
to shareholders                  53,447            28,183
   per share (EUR)                62.62              33.0 (4)

(1) From 13 February 2009 to 30 June 2009
(2) Company financial statements restated on an IFRS basis
(3) Related to the financing structure of the cinema property portfolio which
includes a mandatory convertible bond of EUR25.5 million par value
(4) Based on book value, CFI only holding cash and cash equivalents at the time

                Investor relations: contact@cfi-france.com
                       Tel: +33 (0)1 40 07 81 03
                      
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