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Mexico City, Mexico, October 25, 2011 -- Fibra Uno (BMV: FUNO11) (“Fibra Uno” or

“Trust F/1401”), Mexico’s first real estate investment trust, announced today its results

for the third quarter ended September, 30 2011. All figures included herein were

prepared in accordance with the Mexican GAAP and are stated in nominal Mexican

pesos, unless otherwise noted.

3Q 2011 Highlights

Revenues for the quarter were Ps. 187.8 million

Rental revenue for the quarter totaled Ps. 169.23 million

NOI1 was Ps. 167.9 million

Net Result was Ps. 71.95 million

FFO 2 totaled Ps. 82.71 million

NOI per CBFI was Ps. 39.7 cents

Net Result per CBFI was Ps.17.02 cents

As of September 30, 2011, the book value of Fibra Uno’s portfolio of

properties was Ps. 8,431 million

Fibra Uno will pay a distribution of Ps. 37.79 cents per CBFI3 equivalent to

a yield of 7.75% on an annualized basis at the IPO price of Ps. 19.50 per

CBFI .

1 Net operating income is calculated by subtracting operation expenses from revenue.

2 FFO is calculated by adding depreciation and amortization expenses to net income.

3Calculated based on the number of CBFIs in circulation as of September 30, 2011 (422,575,223).

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CEO Comments

“I am happy to report that Fibra Uno’s 3Q11 results demonstrate the Trust’s solid

financial position and superior business model. We received revenue from all 17 of our

properties, with the Toluca property’s income being booked starting July 1, 2011 after

being acquired in 2Q11. On the financial side, the Trust reported NOI of Ps. 167.9

million and FFO of Ps. 82.71 million.

Fibra Uno will return this value to its CBFI holders with a distribution of Ps. 37.79 cents

per CBFI, scheduled to be paid no later than November 8, 2011. Under Mexican law,

Fibra Uno must pay out at least 95% of net taxable income to CBFI holders and we are

pleased to share the benefits of our strong 3Q11 with CBFI holders.

We look forward to the rest of 2011 optimistically. We are confident that we can

continue to post strong results and deliver value to our CBFI holders.”

André El-Mann,

Chief Executive Officer, Fibra Uno

Property Portfolio

Current Portfolio

On September 30, 2011, Fibra Uno had a portfolio of 17 prime properties, located in

central and southern Mexico. These properties encompass office, retail, industrial, and

mixed-use units. Fibra Uno’s business model focuses on having a diversified property

portfolio in different geographic locations, where there is strong economic activity.

Fibra Uno will seek to continue developing its portfolio with a mix of properties, while

scouting for new investment opportunities across Mexico.

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As of September 30, 2011, Fibra Uno’s total GLA under management was

approximately 702,182 square meters. These 17 properties had a book value of Ps. 8.43

billion as of September 30, 2011.

Property Portfolio Profile at end of 3Q11

The table below shows the location and occupancy rates of each of the properties in our

portfolio by property type.

The GLA of the Malecón property grew by 7,800 square meters in the third quarter, due

to the completion of construction of an office building on the property. This building

was not included in Malecón’s initial GLA, as it was still under construction when Fibra

Uno acquired the property on June 27, 2011. As the total GLA grew, the overall

percentage occupancy level dropped from 84% to 73%. The hotel and retail space

remained with an 84% occupancy level.

Properties Region

First Year

of

Operations

GLA m2

% of

Total

GLA

% Occupancy

Rate Dec 2010

Occupancy

Rate Mar 2011

Occupancy

Rate Jun 2011

Occupancy Rate

Sep 2011

Industrial

1 Guadalajara Tlaquepaque, Jalisco 2008 141,370 20.1% 89% 89% 92% 97%

2 Diamante Cuautitlan Izcalli, Edo. Mexico 1994 22,969 3.3% 48% 100% 100% 100%

3 La Joya Cuautitlan, Edo. Mexico 1999 58,970 8.4% 100% 100% 100% 100%

4 Maravillas Toluca, Edo. Mexico 2004 67,292 9.6% 100% 91% 100% 100%

Retail

5 Celaya Celaya, Guanajuato 2007 20,593 2.9% 99% 99% 99% 99%

6 Taxco Taxco, Guerrero 2010 16,669 2.4% 61% 61% 62% 62%

7 Tuxtla Tuxtla Gutierrez, Chiapas 2007 16,260 2.3% 89% 96% 97% 95%

8 Tuxtla II Tuxtla Gutierrez, Chiapas 2010 13,886 2.0% 100% 100% 100% 100%

9 Chetumal Othon P Blanco, Q. Roo 2005 35,861 5.1% 97% 97% 98% 99%

10 Plaza Central Iztacalco 2009 57,541 8.2% 97% 97% 97% 100%

11 Toluca Toluca, Edo. Mexico 2011 15,053 2.1% N/A N/A 100% 100%

Office

12 Reforma Cuauhtemoc, D.F. 1998 14,032 2.0% 100% 100% 100% 100%

Mixed Use

13 Via Morelos Ecatepec, Edo. Mexico 1997 55,366 7.9% 99% 99% 79% 88%

14 Lerma Lerma, Edo. Mexico 1999 73,257 10.4% 99% 97% 100% 99%

15 Rentimex Benito Juarez, D.F. 1997 6,783 1.0% 100% 100% 100% 100%

16 Vallejo 2000 Gustavo A. Madero, D.F. 1995 10,167 1.4% 98% 99% 100% 100%

17 Malecon Benito Juarez, Q. Roo 2009 76,113 10.8% 62% 64% 84% 73%

Total 702,182 100% 89.9% 93.1% 94.6% 94.8%

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Fibra Uno is in the process of negotiating leases and has already closed contracts with

new tenants to rent space in the Malecón office space. We expect the Malecón

occupancy rate to be in line with the rest of our portfolio in the medium-term.

The GLA of the Chetumal property grew by 548 square meters as one tenant expanded

their space.

Occupancy Rates

The occupancy rate for Fibra Uno’s property portfolio as of September 30, 2011 was

94.8%, compared with 89.9% at the end of 2010, demonstrating the strong demand for

Fibra Uno’s properties.

Fibra Uno’s Portfolio Properties by Location

The table shown below includes relevant information on the number and average term

of lease contracts.

RegionNumber of

Properties

Percentage of

Portfolio

GLA

Retail

Properties as

Percentage of

GLA

Industrial

Properties as a

Percentage of

GLA

Office

Properties as a

Percentage of

GLA

Mixed Use

Properties as a

Percentage of

GLA

Annualized

Base Rent

(Ps. In 000s)

Percentage of

Total

Annualized

Base Rent

CHIAPAS 2 4% 100% 49,328$ 7%

GUANAJUATO 1 3% 100% 41,724$ 6%

JALISCO 1 20% 100% 85,566$ 12%

MEXICO STATE 6 42% 5% 51% 44% 171,292$ 25%

MEXICO CITY 4 13% 65% 16% 19% 165,661$ 24%

GUERRERO 1 2% 100% 12,498$ 2%

QUINTANA ROO 2 16% 32% 68% 169,963$ 24%

17 100% 696,032$ 100%

(1) Annualized base rent is the fixed monthly rent to Sep. 30, 2011 multiplied by 12

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The average term is weighted based on square meters.

Less than 2% of the lease contracts of Fibra Uno are in the process of renewing or will

expire within the next 6 months.

Fibra Uno’s tenants are well-diversified by sector. Fibra Uno’s retail properties

(including the retail portion of the mixed use properties) have more than 600 lease

contracts. In the industrial segment (including the industrial portion of the mixed use

properties), Fibra Uno has approximately 50 lease contracts, with clients focused on

logistics, supermarkets and food. Our office tenants are concentrated in the federal

government.

Properties No of

Contracts

Average Initial

Term (yrs)

Average Remaining

Term (yrs)

Industrial

1 Guadalajara 15 5.65 4.53

2 Diamante 3 4.72 2.58

3 La Joya 4 6.25 4.28

4 Maravillas 13 6.25 3.93

Subtotal 35

Retail

5 Celaya 105 6.21 4.69

6 Taxco 23 7.37 7.12

7 Tuxtla 101 5.41 4.87

8 Tuxtla II 2 15.51 15.23

9 Chetumal 121 6.68 3.73

10 Plaza Central 144 6.18 5.89

11 Toluca 2 15 14.76

Subtotal 498

Office

12 Reforma 1 1.16 0.25

Subtotal 1

Mixed Use

13 Via Morelos 15 7.93 5.61

14 Lerma 20 5.85 3.67

15 Rentimex 7 6.21 4.35

16 Vallejo 2000 7 8.86 5.38

17 Malecon 146 7.62 6.43

Subtotal 195

Total 729

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Rental Revenue

Fibra Uno’s rental revenue for 3Q11 was Ps. 169.23 million.

The rental revenue breakdown corresponds to:

In 3Q11, revenue from our industrial portfolio totaled Ps. 40.68 million, or 24.04%

of the total.

In 3Q11, revenue from our retail portfolio totaled Ps. 67.04 million, or 39.62% of

the total.

In 3Q11, revenue from our office portfolio totaled Ps. 8.02 million, or 4.74% of the

total.

In 3Q11, revenue from our mixed-use portfolio totaled Ps. 53.47 million, or

31.60% of the total.

Revenue from Financial Products

Fibra Uno recorded revenue from financial products of Ps. 3.7 million in 3Q11. This

revenue is income from investment in low risk fixed-income products, mostly Mexican

government securities.

SECTOR3Q11 Rental Revenue

(Ps. million)

% of 3Q11 Rental

Revenue

Industrial 40.68 24.04

Retail 67.04 39.62

Office 8.02 4.74

Mixed Use 53.47 31.6

Total 169.23 100%

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3Q11 vs. 3Q 2010

It is worth noting that in 3Q10 Fibra Uno had not been formed yet. Also, one of our

properties, the Toluca property, was not operating in 3Q10. Construction on this

property was finalized on May 27, 2011, and the property was delivered to the income

tenant on the same date. As of July 1, 2011, the Toluca property began generating

income for the Fibra.

To allow for comparisons, we prepared pro-forma income statements for 3Q11 and

3Q10, excluding the impact of the Toluca property.

The following table shows pro forma results for Fibra Uno’s portfolio, excluding Toluca,

for 3Q11 and 3Q10. It also shows actual 3Q11 results for Fibra Uno’s portfolio of 17

properties, including Toluca.

17 properties 16 properties 16 properties

3Q 2011 3Q 2011 3Q 2010

Revenues % % %

Rental Revenues 169,232.23 90.11% 162,949.00 90.15% 151,494.48 91.38%

Tenant reimbursements 17,988.29 9.58% 17,807.68 9.85% 14,289.43 8.62%

Other Income 582.52 0.31% 0.00% 0.00%

Total Revenues 187,803.04 100.00% 180,756.68 100.00% 165,783.90 100.00%

Expenses

Real Estate Taxes 2,147.81 1.14% 2,070.00 1.15% 1,713.61 1.03%

Maintenance and Operating expenses 31,803.57 16.93% 31,488.68 17.42% 30,499.10 18.40%

Insurance 4,980.00 2.65% 4,980.00 2.76% 4,808.31 2.90%

Total Expenses 38,931.37 20.73% 38,538.68 21.32% 37,021.02 22.33%

NOI 148,871.66 79.27% 142,218.00 78.68% 128,762.89 77.67%

Non Audited

Fibra Uno

Condensed Pro Forma Statement

Third Quarter for 2010 and 2011

(Figures in thousand pesos)

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Pro Forma Revenue

Our total pro forma revenue in 3Q11 based on 16 properties amounted to Ps. 180.76

million, 9.01% above 3Q10 pro forma revenue of Ps. 165.78 million. Rental revenues for

the period amounted to Ps. 162.95 million, compared with Ps. 151.49 million pro forma

rental revenue in 3Q10. This change was primarily due to higher occupancy levels.

Pro Forma Net Operating Income

Fibra Uno’s pro forma Net Operating Income (NOI) for 3Q11, based on 16 properties,

amounted to Ps. 142.22 million, compared with pro forma NOI of Ps.128.76 million in

3Q10.

Additional Corporate Information

Calculation of Taxable Income

Taxable income is calculated on a fiscal basis, and therefore may differ from calculations

made on an accounting basis. Particularly, there are two items that need to be

considered:

a) Depreciation. For tax purposes, depreciation is calculated for 20 years, so every

year the constructions are depreciated 5% of the original cost.

b) Real portion of interest payments. Taxable income deducts only the real portion

of interest payments.

Distribution Corresponding to 3Q11

As part of Fibra Uno’s commitment to deliver value to its CBFI holders, the Technical

Committee approved the proposal to pay a distribution in advance. This distribution

amounts to Ps. 159.71 million, corresponding to the period between July 1, 2011 and

September 30, 2011. The distribution payment equals Ps. 37.79 cents per CBFI, which

was calculated based on the 422,575,223 CBFIs in circulation at the date of such

approval.

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Of this distribution, Ps. 18.446 cents correspond to return of capital, while Ps. 19.346

cents corresponds to income. Under Mexican law, Fibra Uno must pay out at least 95%

of its annual net taxable income to CBFI holders at least once a year.

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FINANCIAL TABLES

INCOME STATEMENT

Mar. 31 Jun. 30 Sep. 30

Revenues

Rental Revenues 14,703,537.00$ 110,221,758.00$ 169,232,225.00$

Tenenat Reimbursements 865,430.00$ 7,810,346.00$ 17,988,287.00$

Other Income 582,524.00$

Total Revenues 15,568,967.00$ 118,032,104.00$ 187,803,036.00$

Administrative Expenses 1,249,371.00$ 20,510,012.00$ 19,904,679.00$

Depreciation and Amortization 16,733,228.00$ 10,761,029.00$

Operating Income 14,319,596.00$ 80,788,864.00$ 157,137,328.00$

Financial Products 2,441,932.00$ 27,884,592.00$ 3,724,560.00$

Paid Commissions 232.00-$ 6,223.00-$ 20,403.00-$

Comprehensive Financial Cost 2,441,700.00$ 27,878,369.00$ 3,704,157.00$

Net Income prior distribution 108,667,233.00$ 160,841,485.00$

Income Distribution 14,477,738.00$ 88,887,768.00$

Net Income 16,761,296.00$ 94,189,495.00$ 71,953,717.00$

(Figures in pesos)

Deustche Bank Mexico SA Institucion de Banca Multiple

Income Statement from January 12, 2011 (date of incorporation)

to March 31, 2011, June 30, 2011 and September 30, 2011

FIBRA UNO

Trust F/1401

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BALANCE SHEET

Mar. 31 Jun. 30 Sep. 30

ASSETS

Current Assets

Cash 1,000.00$ 1,000.00$ 1,000.00$

Cash Equivalents 2,855,680,100.00$ 496,436,279.00$ 254,166,915.00$

Accounts Receivable 12,739,789.00$ 59,731,846.00$ 61,892,556.00$

Advanced Payments -$ -$ 14,866,539.00$

Refundable tax 36,826,402.00$ 1,018,963,334.00$ 1,010,437,409.00$

Current Assets 2,905,247,291.00$ 1,575,132,459.00$ 1,341,364,419.00$

Contribution Portfolio 4,396,451,198.00$ 8,180,060,766.00$ 8,431,626,940.00$

Subsidiaries 1,000,000.00$ 1,000,000.00$ 1,000,000.00$

Pre-paid insurance 2,969,405.00$ 2,877,120.00$

TOTAL ASSETS 7,302,698,489.00$ 9,759,162,630.00$ 9,776,868,479.00$

LIABILITIES

Short term liabilities

Suppliers 51,945,048.00$ 48,785,545.00$

Creditors 1,565,470,413.00$ 1,552,470,241.00$

1,617,415,461.00$ 1,601,255,786.00$

Long term liabilities

Deposits in guarantee 20,671,310.00$ 37,103,340.00$ 37,811,399.00$

Subsidiaries 1,000,000.00$ 1,000,000.00$

TOTAL LIABILITIES 20,671,310.00$ 1,655,518,801.00$ 1,640,067,185.00$

Shareholders' equity

Initial shareholders' equity 1,000.00$ 1,000.00$ 1,000.00$

Issued shareholders' equity 7,266,786,455.00$ 7,992,692,037.00$ 7,953,895,786.00$

Result for the period 15,239,724.00$ 110,950,792.00$ 182,904,508.00$

Total shareholders equity 7,282,027,179.00$ 8,103,643,829.00$ 8,136,801,294.00$

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 7,302,698,489.00$ 9,759,162,630.00$ 9,776,868,479.00$

FIBRA UNO

Trust F/1401

Balance Sheet as of September 30, 2011

(Figures in pesos)

Deustche Bank México SA Institución de Banca Múltiple

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Balance Sheet

Total cash and cash equivalents amounted to Ps. 254 million as of September 30, 2011.

The accounts receivable balance of contributors is derived from the incorporation

process of the contributed portfolio, which is presently taking place, and is composed of

the deposits in guarantee of current tenants, minus accounts receivable from rents prior

to the formation of the contributed portfolio, and the contribution of permanent

investments, among others.

The total liabilities outstanding at the end of the first quarter amounted to Ps. 1.5 billion,

due to the purchases of Plaza Central and Malecón. These properties were paid 60% on

the closing date, and the remaining 40% will be paid within 180 days after the closing.

Fibra Uno closed the acquisition of the Plaza Central property on June 23, 2011 and the

acquisition of the Malecón property on June 27, 2011.

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CASH FLOW

Operations: Sept.30 Jun. 30

Result for the period 286,270,014$ 125,428,530$

Depreciation for the period 27,494,257$ 16,733,228$

313,764,271$ 142,161,758$

Increase in Accounts receivable and payable - net (31,481,551)$ (9,756,204)$

Increase in Refundable taxes (1,010,437,409)$ (1,018,963,334)$

Increase in deposits in guarantee 37,811,399$ 37,103,340$

Net cash flow from operations (690,343,290)$ (849,454,440)$

Investment activities:

Subsidiaries 1,000,000$ 1,000,000$

Contribution portfolio 8,457,490,316$ 8,196,763,994$

Net cash flow from investments 8,458,490,316$ 8,197,763,994$

Financing activities:

Initial shareholders' equity and CBFIs issuance 7,992,693,037$ 7,992,693,037$

Creditors for property acquisitions 1,552,470,241$ 1,565,470,413$

Distribution payments and return of capital (142,161,757)$ (14,477,738)$

Net cash for from financing activities 9,403,001,521$ 9,543,685,712$

Net cash flow balance 254,167,914$ 496,437,278$

Fibra Uno

Trust F/1401 de Deutsche Bank México, S. A. Institución de Banca Múltiple

Cash flow Statement at the close of June 30, 2011 and September 30, 2011

(Figures in pesos)

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Note on Forward-Looking Statements

This report may contain certain forward-looking statements and information relating to the Trust that reflect the current views

and/or expectations of the Trust and its management with respect to its performance, business and future events. Forward looking

statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or

achievements, and may contain words like “believe,” “anticipate,” “expect,” “envisages,” “will likely result,” or any other words or

phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a

number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and

intentions expressed in this presentation and in oral statements made by authorized officers of the Trust. Readers are cautioned not

to place undue reliance on these forward-looking statements, which speak only as of their dates. The Trust undertakes no obligation

to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Fibra Uno

Fibra Uno is a Mexican trust formed primarily to acquire, own, develop and operate a broad range of

commercial real estate in Mexico, including industrial, retail, office, mixed-use and other properties. Our

objective is to return value to the holders of our CBFIs through distribution of our net taxable income. We

intend to selectively assemble a diversified portfolio of high-quality, well-located, income-producing

commercial properties in Mexico.

The Trust began trading on the Mexican stock exchange on March 18, 2011. Currently, it has 17 properties

in central and southern Mexico, with an approximate GLA of 702,182 square meters.

Long-term, Fibra Uno has a growing model in which it plans to buy and develop properties and lease

them as a source of recurring, reliable income.

Under Mexican law, at least 70% of a Fibra’s assets must be invested in or derived from real estate,

among other requirements. In addition, a Fibra must also distribute at least 95% of its net taxable income

to investors at least once a year. This, combined with the attractive fundamentals of Mexico’s real-estate

market and a seasoned management team, make Fibra Uno a unique and compelling investment story.

Fibra Uno is an internally managed by F1 Management, S.C. and externally advised by Fibra Uno

Administracion S.A. de C.V., a Mexican real estate operator with a management with more than 30 years

of experience in the Mexican real estate market.

Fibra Uno’s IPO was a major step forward for Mexico’s real estate industry, offering investors new

sources of returns while providing developers with a rich source of financing. Fibra Uno seeks to increase

its portfolio, return income and create value for its investors and contribute to the development of this

key sector.

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Investor Relations Contacts

In Mexico City: In New York:

Javier Elizalde Lucia Domville

Tel: +52(55) 5258-1103 Tel: +1 (646) 284-9400

E-mail: jelizalde@fibrauno.mx Email: lucia.domville@grayling.com