FONCIERE LYONNAISE : Half-yearly report on the liquidity contract

HALF-YEARLY REPORT ON

THE LIQUIDITY CONTRACT

Paris, 2 January 2012 - As of 30 December 2011, the following resources were available for transactions under the liquidity contract with Rothschild & Cie Banque:

• 25,750 shares

• €493,432.00 in cash

Resources available as of 30 June 2011 were as follows:

• 6,875 shares

• €1,179,108.00 in cash.

With an exceptional portfolio of properties valued at €3.2 billion including transfer costs, essentially located in the Paris Central Business District, SFL is a preferred vehicle for investors wishing to invest in the Paris office and retail property market. As the leading player in this market, the Group is firmly focused on pro-actively managing high-quality property assets. SFL has elected to be taxed as an SIIC since 2003.

STOCK MARKET:

Euronext Paris Compartment A - Euronext Paris ISIN FR0000033409 - Bloomberg:

FLY FP - Reuters: FLYP PA

RATING S&P: BBB- stable

Company Communication

SFL INFLUENCES

Nicolas Reynaud Media contact: Catherine Meddahi Phone: + 33 (1) 42 97 01 65 Phone: + 33 (1) 44 82 67 07 [e-mail] [e-mail]