SFL - Dividend

Regulatory News:

Societe Fonciere Lyonnaise (Paris:FLY):

At its meeting of 4 April 2008, the Board of Directors of Societe
Fonciere Lyonnaise, under the chairmanship of Mariano Miguel, decided
to recommend paying a total 2007 dividend of EUR 3.20 per share at the
Annual General Meeting to be held on 23 May 2008.

In light of the interim dividend of EUR 1.10 per share paid in
November 2007, the final dividend will amount to EUR 2.10 per share
and will be paid on 30 May 2008.

During the meeting, the Board of Directors examined the appraisal
value of the Company´s portfolio, which stood at EUR 3,981 million
including transfer costs at 31 March 2008, down by a slight 3.6% since
31 December 2007. This change reflects the moderate increase in the
discount rates applied by the valuers to SFL´s high quality
properties.

Lastly, the Board of Directors noted the decision announced by
Colonial, SFL´s majority shareholder, to sell its entire 84% interest
in SFL. The SFL Board´s Committee of Independent Directors, which was
informed of Colonial´s plans the day before the announcement, will
continue to carry out its responsibilities.

With an exceptional portfolio of properties valued at nearly EUR 4
billion net of 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.

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STOCK MARKET:
Euronext Paris Compartment A -
Euronext Paris ISIN
FR0000033409 - Bloomberg:
FLY FP - Reuters: FLYP PA
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