QRF : Quarterly results - 31/12/2013 until 31/3/2014

PRESS RELEASE Regulated information 09/05/2014

Qrf - first quarter 2014

Quarterly results - 31/12/2013 until 31/3/2014

• The rental income of the 1st quarter amounts to 1.778 KEUR.

• The fair value of the property portfolio at 31/3/2014 amounts to

16.600 KEUR (*) and represents a yearly rental income of 7.300

KEUR.

• At 31/03/2014 the financial occupancy is 99,59%, the physical occupancy is 94,50%.

• The debt ratio of Qrf is 46,49% at the end of the first quarter.

• Until now, Qrf acquired five new properties with a total fair value of

16.330 KEUR and a yearly rental income of 1.042 KEUR.

• Qrf continues its growth strategy, with several acquisitions in a negotiation phase.

• Qrf maintains the expected results for 2014 with regard to real estate result and dividend.
(*) excluding minority interests

Qrf Comm. VA • Public investment Fund under Belgian Law • Leopold de Waelplaats 8/1 • B-2000 Antwerp

Tel. [phone] • Fax [phone] • [e-mail] • www.qrf.be • Company registration number 537 979 024 • RPR Antwerp

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For more information :

Qrf Comm VA
Anneleen Desmyter, CEO Francis Hendrickx, CFO
[e-mail] [e-mail]
+ 32 3 233 52 46 + 32 3 233 52 46

Warning:

This press release contains forecasts which involve risks and uncertainties, including statements concerning the plans, objectives, expectations and intentions of Qrf. Readers are cautioned that forecasts include known and unknown risks and are subject to significant business, economic and competitive uncertainties, which, to a large extend are beyond the Qrf's control. If one or more of these risks or uncertainties materialise, or if the basic hypotheses employed prove incorrect, the end results could vary substantially from those anticipated, expected, estimated or projected. Consequently Qrf assumes no responsibility
for the accuracy of these forecasts.

Qrf Comm. VA • Public investment Fund under Belgian Law • Leopold de Waelplaats 8/1 • B-2000 Antwerp

Tel. [phone] • Fax [phone] • [e-mail] • www.qrf.be • Company registration number 537 979 024 • RPR Antwerp

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