CORPORATE GOVERNANCE

BOARD OF DIRECTORS

The regulated real estate company Leasinvest Real Estate is being managed by its limited (managing) partner and sole statutory manager, Leasinvest Real Estate Management SA, with its registered office at 2000 Antwerp, Schermersstraat 42 (register of legal persons 0466.164.776), a 100% subsidiary of Ackermans & van Haaren.

At present, the board of directors of the statutory manager, Leasinvest Real Estate Management SA, is composed of eight directors, of whom four directors are appointed on the proposal of Ackermans & van Haaren/Extensa Group NV, three independent directors and one other director.

The board of directors is chaired by Jan Suykens, chairman of the executive committee of Ackermans & van Haaren.

The independent directors are:

Eric Van Dyck

Chairman Capital Markets EMEA (London) with Cushman & Wakefield

Dirk Adriaenssen

Managing Director Redevco Switzerland & Central Europe

Sonja Rottiers

Director of companies

The directors proposed by Ackermans & van Haaren SA are:

Jean-Louis Appelmans

Director of companies (non-executive director)

Michel Van Geyte (Chief Executive Officer - executive director)

Michel Van Geyte was appointed as commercial manager of Leasinvest Real Estate Management SA in August 2004. He is currently CEO - executive director of LREM SA and also managing director of Leasinvest Immo Lux.

Jan Suykens

Chairman of the executive committee of Ackermans & van Haaren SA, chairman of the board of directors of Leasinvest Real Estate Management SA (non-executive director)

Piet Dejonghe

Member of the executive committee of Ackermans & van Haaren SA (non-executive director)

The other director is:

Nicolas Renders

Head of Asset Management Belux, Real Assets AXA