Sponda - Company Announcement

Sponda purchases a 46 hectare site in Leningrad province

Sponda purchases a 46 hectare site in Leningrad province                        

In pursuit of its strategy to expand its property investment operations in      
Russia, Finnish Real estate investment company Sponda Plc through its subsidiary
OOO Veika has purchased a 46-hectare land site near St. Petersburg in Leningrad 
province for approximately EUR 9.5 million. The company plans to develop the    
site in stages into a logistics facility covering roughly 160,000 m2 in stages. 
The project is currently being considered by the authorities and the aim is to  
start the planning work during summer 2007.                                     



Sponda Plc                                                                      


Further information: Kari Inkinen, President and CEO, tel. +358-20-431 3311 or  
Sirpa Sara-aho, Director, Russia and the Baltic Countries, tel. +358-20-431     
3498.                                                                           




Sponda Plc is a real estate company specializing in commercial properties in the
largest cities in Finland and Russia. Sponda's business concept is to own, lease
and develop office, retail and logistics properties into environments that      
promote the business success of its clients. The fair value of Sponda's         
investment properties is approximately EUR 2.6 billion and the leasable area is 
around 2 million m². Sponda is the largest real estate investment company listed
on the Helsinki Stock Exchange.