5/3/2008

VINCI and Fortis today signed a memorandum of understanding with a view to combining their respective activities in the public car park industry.  This combination would be achieved through VINCI Park, a subsidiary of VINCI Concessions, and Interparking, a subsidiary of Fortis Real Estate. Both groups would share the equity of the new entity, which would be majority owned by VINCI, Fortis retaining a significant holding. The new entity would manage 1.3 million parking places in 1,800 car parks in 16 countries worldwide.

The two companies have a complementary set of activities. VINCI Park is the European car park industry leader and a major player worldwide with a strong presence in various countries in Europe – especially France, the UK and Spain – and in North America. Interparking is Europe’s third biggest car park operator with a large base of freehold properties and a strong presence in Benelux, Spain, Germany, Austria and Italy.

This combination would be an excellent opportunity to strengthen the new player’s presence in a number of key markets, thereby benefiting from increased brand awareness. Furthermore, it will increase the pool of expertise, to deliver the best and most innovative service to its customers.

The new entity will have better access to the financial resources needed to invest in newly developing markets and should become an even more dynamic player in the international public parking industry.

After a period of due diligence, the final agreement is expected to be signed in the third quarter of 2008.  The completion of the transaction will be subject to customary closing conditions and regulatory approvals.

The transaction will have a positive impact on Fortis's solvency ratio.

The new entity will be fully consolidated by VINCI.

Press contact:

Hilde Junius

+32 (0)2 565 47 37

hilde.junius@fortis.com