FCC Proudreed Properties 2005 HSBC SG CORPORATE ...

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2 – BALANCE SHEET – LIABILITIES AND SHAREHOLDER’S EQUITY Corporate name: PARIS PROVINCES PROPERTIES 31 December 2004 31 December 2003 SHAREHOLDER’S EQUITY Share capital (incl. paid-up capital: 12 300 000 ) 12,300,000 12,300,000 Issue premium, merger surplus, share premium Reevaluation surplus (consolidation surplus: EK ) Legal reserve Statutory or contractual reserves Regulated reserves (incl. special reserve for provision for price fluctuations) Other reserves Retained earnings / losses (4,601,017) -2,709,760 NET INCOME OR LOSS (1,622,671) -1,891,257 Investment subsidies Regulated provisions 412,927 189,512 TOTAL (I) 6,489,239 7,888,495 OTHER STOCKHOLDER’S EQUITY Yield from issuance of non voting shares Conditional advances TOTAL (II) Reserves for contingency / liability & charges Reserves for contingencies Provisions for liabilities and charges 266,450 384,000 TOTAL (III) 266,450 384,000 LIABILITIES Convertible bond loans Other bond loans Debts / loans granted by credit institutions 118,261,035 119,616,998 Other financial loans and debts (incl.Loans entitling the bank to an interest in the company EI) 3,587,849 4,010,489 Advances and deposits collected on orders in progress Accounts payable and related payables 1,140,953 1,502,089 Tax payable, payroll and debts to social institutions 833,859 663,763 Debts on fixed assets and related accounts 1,435,205 1,699,920 Other liabilities 4,433,149 3,659,815 Regular account Deferred income 15,707 TOTAL (IV) 129,707,758 131,153,075 Translation differential (V) 8,622 GRAND TOTAL (I TO V) 136,472,069 139,425,570 157
3 – INCOME STATEMENT Corporate name: PARIS PROVINCES PROPERTIES 31 December 2004 France Export Total 31 December 2003 OPERATING INCOME Sales of goods Sales of production – goods – services 21,229,080 21,229,080 18,711,522 Net turnover 21,229,080 21,229,080 18,711,522 Stored production Capitalised production Operating subsidies Depreciations and reserve reversals, expense transfer 928,189 1,210,901 Other operating income 389,986 Total operating income (I) 22,157,269 20,312,409 OPERATING EXPENSES Purchase of goods (including customs duties) Changes in inventory (goods) Purchase of raw materials and other supplies (including customs duties) Changes in inventory (raw materials and suplies) Other purchases and external expenses 7,459,250 6,036,630 Taxes and related payments 2,645,706 2,857,454 Wages and salaries Social security contributions Operating allowances fixed assets depreciation 5,845,378 5,640,979 provision current assets provision 225,892 347,378 for contingencies provision 266,450 384,000 Other expenses 641,226 239,833 Total operating expenses (II) 17,083,902 15,506,274 1 – OPERATING RESULT (I – II) 5,073,366 4,806,135 Joint venture Attributed income or transferred loss (III) Loss assumed or transferred income (IV) FINANCIAL INCOME Financial income from investments Income from other investment securities and from receivables related to fixed assets Other interest and related income 15,650 Reserve reversals, expense transfer Profits on exchange rates 1,873 12,250 Net gains on sales of investment securities 15,443 22,638 Total financial income (V) 32,966 34,888 FINANCIAL EXPENSES Financial allowances for depreciations and provisions Interest and assimilated expenses 6,110,027 6,406,428 Loss on exchange rates 229 Net loss on sales of investment securities Total financial expenses (VI) 6,110,256 6,406,428 2 – FINANCIAL RESULT (V – VI) (6,077,290) (6,371,539) 3 – ORDINARY RESULT BEFORE TAX (I - II + III - IV +V-VI) -1,003,924 -1,565,404 158
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FCC Proudreed Properties 2005 a Fre
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(having taken all reasonable care t
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CONTENTS SECTION PAGE PRINCIPAL CHA
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PRINCIPAL CHARACTERISTICS OF THE CO
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LTV Ratio: Security: Insurance: Mor
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DIAGRAMMATIC OVERVIEW OF PARTIES AN
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is one Business Day following such
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SARL Enoville is a French limited l
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Hedging Agreements. For a descripti
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For further details as to the risks
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2. Tenant Concentration (Top 10 Ten
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6. Sectoral Weightings: (Industrial
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Paris Properties 1. Summary descrip
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Property Name Property address Type
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3. Lease type and length of lease S
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7. Details of the Top Ten Propertie
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Property Number 7 Property Name Cha
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PRINCIPAL FEATURES OF THE NOTES Bel
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‘‘AA’’ by Fitch and a ratin
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Interest Rate Risks Interest on the
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after among other things, payments
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same criteria as apply to the Secur
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Although any successor manager of a
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within the Property Portfolio relat
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this judicial procedure. The judgme
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Risks relating to Planning - Right
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(a) to obtain an order for, or paym
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Secured Properties The Secured Prop
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described under ‘‘Obligor Secur
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(together with accrued interest). F
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date on which sale proceeds are rec
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Facility Fees Pursuant to the terms
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• details of the Property Manager
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taking into account any rent guaran
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(d) any Obligor or the Borrowers’
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(or u100,000 for Proudreed France S
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Account and the related Disposal Ex
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The ‘‘Due Diligence Criteria’
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(e) a deposit (by way of gage-espè
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Pursuant to the terms of the Proper
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negatively affect the credit qualit
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provided however that no such termi
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RESOURCES AVAILABLE TO THE BORROWER
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Reserve. Furthermore, in the event
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Obligor Post-Enforcement Priorities
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Account following the occurrence of
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(e) fifth, in or towards satisfacti
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On delivery of a Note Enforcement N
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VALUATION REPORTS 22 septembre 2005
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We attach schedule of values, divid
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15 June 2005 Proudreed France Sarl
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Finally, we would ask that neither
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We attach schedule of values, divid
Page 107 and 108: 15 June 2005 Proudreed France Sarl
Page 109 and 110: Finally, we would ask that neither
Page 111 and 112: We attach schedule of values, divid
Page 115 and 116: This valuation is provided for the
Page 117 and 118: We confirm that we are able to comp
Page 123 and 124: We confirm that we are able to comp
Page 129 and 130: For recently completed developments
Page 131 and 132: Schedule of Values - Appendix 1 130
Page 133 and 134: Appendix 2 - Schedule of Values 132
Page 135 and 136: Appendix 4 Net Market Fund Ref Prop
Page 137 and 138: We are in the opinion that the valu
Page 139 and 140: Assets of the Issuer Receivables an
Page 141 and 142: The Custodian will receive a fee, p
Page 143 and 144: et seq. of the French Monetary and
Page 145 and 146: THE BORROWERS The Paris Properties
Page 147 and 148: • borrowing or more generally rai
Page 149 and 150: Loan Capital: Commercial Mortgage L
Page 151 and 152: − and generally all transactions
Page 153 and 154: 7 rue d’Amiens S.C.I. Introductio
Page 155 and 156: • granting any security interest
Page 157: 1 - BALANCE SHEET - ASSETS Corporat
Page 161 and 162: NOTES TO THE ACCOUNTS Before repart
Page 163 and 164: FIXED ASSETS Corporate name: PARIS
Page 165 and 166: RESERVES IN THE BALANCE SHEET Corpo
Page 167 and 168: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 169 and 170: LEASING Corporate name: PARIS PROVI
Page 171 and 172: AFFILIATED COMPANIES AND INVESTMENT
Page 173 and 174: P.P.M.P.P. Financial Statements Yea
Page 175 and 176: 2 - BALANCE SHEET - LIABILITIES AND
Page 177 and 178: 3 - INCOME STATEMENT (CONTINUED) Co
Page 179 and 180: Corporate name: P.P.M.P.P. FIXED AS
Page 181 and 182: RESERVES IN THE BALANCE SHEET Corpo
Page 183 and 184: TABLE OF ACCRUED ASSETS AND ACCRUED
Page 185 and 186: SECURITY INTEREST GUARANTEED DEBTS
Page 187 and 188: The Paris Properties Parent Obligor
Page 189 and 190: which it is or will be a party (inc
Page 191 and 192: Principal Activities The principal
Page 193 and 194: PROUDREED FRANCE Financial Statemen
Page 195 and 196: 2 - BALANCE SHEET - LIABILITIES AND
Page 197 and 198: 3 - INCOME STATEMENT (CONTINUED) Co
Page 199 and 200: The principal schedules of deprecia
Page 201 and 202: DEPRECIATION Corporate name: PROUDR
Page 203 and 204: TABLE OF RECEIVABLES AND LIABILITIE
Page 205 and 206: Corporate Name: PROUDREED France DE
Page 207 and 208: Corporate name: PROUDREED France FI
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AFFILIATED COMPANIES AND INVESTMENT
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THE HEDGING PROVIDERS HSBC Bank plc
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TERMS AND CONDITIONS OF THE NOTES T
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above, on the basis of the offered
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(k) the Master Definitions and Fram
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and Paris Properties SARL and, in r
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(vi) ‘‘repay’’, ‘‘redee
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(ii) if there are no Class A Notes
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Priority of Payments Following Enfo
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Determination of Rates of Interest
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(although the Issuer will not have
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Currency of Payment (b) Payments in
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(f) (i) (ii) agreed that until all
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Management Company and the relevant
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Notices by Delivery to Euroclear, E
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TAXATION French Taxation Pursuant t
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which it sells Notes during the dis
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(c) the excerpts of the financial r
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Borrowers Account Bank means (i) in
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(b) (B) not confer a direct or indi
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FCC Servicer means each entity appo
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La Défense, France respectively (o
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Interest Period means each period f
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(i) (j) any dividend payment by tha
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Mortgage means (i) the mortgages (h
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(iv) any amounts payable by the Iss
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Loan Agreement during such Forward-
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Regulation S means Regulation S und
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HSBC Bank plc 8 Canada Square Londo
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