Sponda - Company Announcement

Publishing of the offering circular related to the rights offering of Sponda

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE  
OR IN PART, IN OR INTO CANADA, JAPAN OR THE UNITED STATES.                      


Sponda Plc	Stock Exchange Release 26 May 2009 11:15 am                         
Publishing of the offering circular related to the rights offering of Sponda    

Sponda Plc will publish an offering circular relating to the rights offering of 
166,545,277 new shares in Sponda. The terms and conditions of the rights        
offering were published in a separate stock exchange release on 25 May 2009.    

The Finnish language offering circular, approved by the Finnish Financial       
Supervisory Authority, will be available on Sponda's website at                 
www.sponda.fi/osakeanti as from 27 May 2009 and is estimated to be available at 
the subscription places of the rights offering as from 29 May 2009.             
Helsinki, 26 May 2009                                                           
Sponda Plc                                                                      

Further information: Kari Inkinen, President and CEO, tel. +358 20 431 3311     


This document is an advertisement for the purposes of applicable measures       
implementing Directive 2003/71/EC (such Directive, together with any applicable 
implementing measures in the relevant home Member State under such Directive,   
the "Prospectus Directive"). A prospectus prepared pursuant to the Prospectus   
Directive will be published in connection with any offering of securities, and  
will be available at subscription locations in Finland.                         

The information contained herein is not for release, publication or             
distribution, directly or indirectly, in or into Canada, Japan or the United    
States. The information contained herein does not constitute an offer of        
securities for sale in the United States, nor may the securities be offered or  
sold in the United States absent registration or an exemption from registration 
as provided in the U.S. Securities Act of 1933, as amended, and the rules and   
regulations thereunder. There is no intention to register any portion of the    
offering in the United States or to conduct a public offering of any securities 
in the United States.                                                           

The information contained herein shall not constitute an offer to sell or the   
solicitation of an offer to buy, nor shall there be any sale of the securities  
referred to herein in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration, exemption from registration or         
qualification under the securities laws of any such jurisdiction.               

This communication does not constitute an offer of securities to the public in  
the United Kingdom. No prospectus has been or will be approved in the United    
Kingdom in respect of the securities. Consequently, this communication is       
directed only at (i) persons who are outside the United Kingdom, (ii) persons   
who have professional experience in matters relating to investments falling     
within Article 19(1) of the Financial Services and Markets Act 2000 (Financial  
Promotion) Order 2005 (the “FP Order”) and (iii) high net worth entities falling
within Article 49(2) of the FP Order, and other persons to whom it may lawfully 
be communicated, (all such persons together being referred to as “relevant      
persons”).  Any investment activity to which this communication relates will    
only be available to, and will only be engaged with, relevant persons.  Any     
person who is not a relevant person should not act or rely on this document or  
any of its contents.                                                            

Any offer of securities to the public that may be deemed to be made pursuant to 
this communication in any EEA Member State that has implemented the Prospectus  
Directive is only addressed to qualified investors in that Member State within  
the meaning of the Prospectus Directive.                                        

Copies of this announcement are not being made and may not be distributed or    
sent into Canada, Japan or the United States.                                   

Danske Bank A/S, Helsinki Branch and UBS Limited are acting for Sponda and no   
one else in connection with the rights offering and will not regard any other   
person (whether or not a recipient of this release) as a client in relation to  
the rights offering and will not be responsible to anyone other than Sponda for 
providing the protections afforded to their respective clients or for providing 
advice in relation to the rights offering or any matters referred to in this    
release.                                                                        

Neither Danske Bank A/S, Helsinki Branch nor UBS Limited accepts any            
responsibility whatsoever for the contents of this release, and makes no        
representation or warranty, express or implied, for the contents of this        
release, including its accuracy, completeness or verification, or for any other 
statement made or purported to be made by it, or on its behalf, in connection   
with Sponda or the ordinary shares or the rights offering, and nothing in this  
release is or shall be relied upon as, a promise or representation in this      
respect whether as to the past or future. Danske Bank A/S, Helsinki Branch and  
UBS Limited accordingly disclaim to the fullest extent permitted by law all and 
any liability whether arising in tort, contract or otherwise (save as referred  
to above) which they might otherwise have in respect of this release or any such
statement.