COMPAGNIE DE FINANCEMENT FONCIER

Confirmation of Compagnie de Financement Foncier’s AAA rating by Standard & Poors

Paris, January 9th, 2013

The rating agency Standard & Poors modified its methodology for assessing counterparty risk on May 31st, 2012 and decided on December 19th , 2012 to place on negative watch the issuance program of Compagnie de Financement Foncier, doubting its ability to implement the necessary adjustments before January 11th, 2013.

The agency today has lifted this negative watch and has confirmed the AAA rating of Compagnie de Financement Foncier, with a stable outlook.

Compagnie de Financement Foncier is satisfied with this decision which testifies to both the quality of the work done in concert with interested counterparties to put in conformity those derivatives contracts which required adjustments since the publishing of the new methodology, and its commitments, in particular as regards overcollateralization, in the case of contracts which do not yet conform fully with this new methodology.

Compagnie de Financement Foncier thus maintains its AAA rating with a stable outlook from all three rating agencies, Standard & Poors, Moody’s and Fitch.