Trading update first quarter of the financial year 2007-2008 (01/07/2007-30/09/2007)*

Key figures At the end of the first quarter of the financial year 2007-2008 the shareholder's equity, share of the group (based on the fair value of the investment properties) amounted to 271.8 million EUR, which corresponds to the net asset value per share[1] (including dividend) of 67.75 EUR compared to 65.31 EUR on 30/06/07, or an increase of 4%. On 22/10/07 Leasinvest Real Estate distributed a gross dividend of 3.80 EUR per share. Consequently, the net asset value of the share ex-coupon amounted to 63.95 EUR on 30/09/07. The fair value[2] of the real estate portfolio in operation[3], as estimated by the real estate experts Cushman & Wakefield, has evolved from 445.9 million EUR on 30/06/07 to 439.8 million EUR on 30/09/07. Including the development projects the total value of the real estate amounted to 454.7 million EUR compared to 459.3 million EUR on 30/06/07. This decrease results from, on the one hand, the sale of the building 'Aubépines' in the Grand Duchy of Luxembourg and, on the other hand, from the positive changes in the value of the real estate portfolio in operation. The debt ratio has decreased from 40.93% on 30/06/07 to 37.94% on 30/09/07. Due to the renovation of the building 'Bian' on the one hand, and the sales of the 3 buildings in the 2nd semester of the past financial year and of the building 'Aubépines' at the beginning of the present financial year, on the other hand, the rental income amounted to 7.84 million EUR for the first 3 months, compared to 8.39 million EUR for the first quarter of the past financial year. The sale of the building 'Aubépines' has resulted in a gain of 3.6 million EUR. The occupancy rate[4] reached a historic high of 97.85% on 30/09/07 compared to 97.01% on 30/06/07. The rental yields have not changed compared to 30/06/07 and amounted to 7.22% based on the fair value and 7.04% based on the investment value. The extraordinary general meeting of 15 October 2007 has approved the silent merger of the 3 companies (Warehouse Finance SA, Logistics Finance I SA and De Leewe SA) with Leasinvest Real Estate SCA. This merger has no impact on the consolidated results, nor on the consolidated shareholder's equity of Leasinvest Real Estate. Leasinvest Real Estate SCA Real estate fund Leasinvest Real Estate SCA invests mainly in high quality and well-situated office, logistics and retail buildings in Belgium and in the Grand Duchy of Luxembourg. The sicafi is listed on Euronext Brussels in the NextPrime segment. Leasinvest Real Estate has a market capitalisation of 258.8 million EUR (value 20 November 2007). For more information, contact: Leasinvest Real Estate Jean-Louis Appelmans Investor Relations T: +32 3 238 98 77 E: jeanlouis.appelmans@leasinvest.be W www.leasinvest.be (*) The financial year runs from 1 July to 30 June; the figures presented in this press release are unaudited and IFRS figures. [1] The number of shares on 30/09/07 amounts to 4.012.832, and has not changed compared to 30/06/07. [2] Fair value: the investment value as defined by an independent real estate expert and of which the mutation costs have been deducted. The fair value is the accounting value according to IFRS. [3] Excluding the development projects. [4] The occupancy rate is calculated based on the estimated rental value. All buildings of the Leasinvest Real Estate portfolio are taken into account, excluding the development projects.