“FIPRS – FONDO IMMOBILIARE PUBBLICO REGIONE SICILIANA” THE SICILIAN REGION'S PUBLIC PROPERTY FUND WINS FOR ITALY AT THE PRESTIGIOUS IPD EUROPEAN PROPERTY INVESTMENT AWARDS 2012

Jun 29 2012

Milan, 29 June 2012 – FIPRS - Fondo Immobiliare Pubblico Regione Siciliana, a private property fund with the contribution of public properties managed by Prelios SGR, was recognised at the 2012 European Property Investment Awards held by IPD (Investment Property Databank), a leading independent company in performance analysis and measurement in the property services sector.

FIPRS is the winner for Italy in the "specialist fund" category with the highest return over the course of the last three years* compared to the sector benchmark in Italy.

“It's a great honour for Prelios SGR”, said Dario Frigerio, CEO of the Management Company, “not only because we are receiving this significant international recognition for the third consecutive year, but also because the award is being given to a fund which was set up to maximise the value of public property - a very important and highly topical issue."

Established in 2007, FIPRS - Fondo Immobiliare Pubblico Regione Siciliana, is one of the first private funds with the contribution of public property established in Italy with the aim of maximising the value of a public body's property assets. The region of Sicily has invested in the fund with a relative majority share of 35%, an RREEF fund holds 33%, Prelios S.p.A. 22% and a foreign institutional investor 10%. The FIPRS portfolio has a market value of around €290 million, and includes 32 administrative commercial properties let in the region of Sicily, with standard "9 years plus 9" lease agreements. The fund has a duration of 15 years, ending at the end of 2022, and can be continually extended as per regulations for a total 30 years.

At the 2010 and 2011 European Property Investment Awards, the "core" property funds Cloe and Clarice, both managed by Prelios SGR, respectively received the award for best return in the same category.