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SeLoger.com: Formal Opinion (“avis motive”) From the Supervisory Board Dated 24 January 2011

PARIS January 25, 2011 24 January 2011

http://www.newscom.com/cgi-bin/prnh/20080131/291759

25 January 2011

14 September 2010

At the end of the meeting and in accordance with the provisions of Article 232-9 of the AMF General Regulation, the Board unanimously approved the following formal opinion:

EUR 38.05 EUR 34.00 28 September 2010

EUR 38.05 25 October 2010 EUR 38.05

Axel Springer

Axel Springer 19 January 2011 December 2006

Axel Springer Axel Springer Axel Springer

The Board concluded that the Revised Offer is now in the interests of SeLoger.com, its employees, its clients and its shareholders. As a consequence and given the improvement in the terms and conditions of the Revised Offer, in particular its financial terms and conditions, it considers that the Revised Offer should be regarded as friendly.

The Board therefore unanimously recommends that SeLoger.com shareholders tender their shares to the Revised Offer."

All Board members have declared their intention to tender their SeLoger.com shares to the Revised Offer.

About Seloger.com

France

France

     - http://www.seloger.com     - http://www.selogerneuf.com     - http://www.immostreet.com     - http://www.bellesdemeures.com     - http://www.vacances.seloger.com     - http://www.construire.seloger.com     - http://www.agorabiz.com.  

The Group also provides real estate professionals the broadest visibility of their ads with an audience of 3 million unique visitors and close to 15 minutes viewing per visitor via its different websites.

It is also the number-one supplier of Internet websites for real estate agencies and software transaction design for professionals with Pericles (Source: Mediametrie // Nielsen Netratings).

30 November 2006

    ISIN code: FR0010294595.      Contacts SeLoger.com     Investors relations     Laurence Begonin Maury     Tel: +33-1-53-38-29-00     [email protected]      Brunswick     Marie-Laurence Bouchon     Alexandra van Weddingen     Tel: +33-1-53-96-83-83       http://www.groupe-seloger.com 

SOURCE SeLoger.com

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