SRV Yhtiöt Oyj - Company Announcement

SRV, SATO and Ilmarinen join forces in developing Perkkaa area in Espoo, New efficient office building for Siemens

SRV Group Plc     Stock Exchange Release     11. October 2010    6.00 p.m. EET  


SRV, SATO and Ilmarinen join forces in developing Perkkaa area in Espoo 
New efficient office building for Siemens 

Siemens Osakeyhtiö has sold the lots and building it owns in Espoo's Perkkaa    
suburb to  Kiinteistö Oy Perkkaantalo company owned by SATO, SRV and Ilmarinen. 
The zoning revision for the area is in the process. The aim is to form new      
blocks for high-rise residential buildings. The joint company will start the    
development of the area together with the City of Espoo.                        

The headquarters of Siemens Finland will move to new environmental-friendly     
premises in Espoo's Perkkaa suburb. The new office building, developed by SRV,  
will aim to reach the extremely demanding LEED GOLD environmental certificate.  

In the future, the area bought from Siemens will be a top-level green           
neighborhood where living, recreation and jobs are located close to each other. 
The intended living floor area is 110,000 - 120,000 square meters, which means  
that some 3000 people could move to the area. Area's central location as an     
extension to the Leppävaara urban center, coastal environment, recreational     
supply and energy efficiency will be essential aspects in the planning of the   
area.                                                                           

“The concluded transaction is significant for the development of the Helsinki   
metropolitan area. The excellent location of the area in close vicinity of      
efficient public transport as well as services and workplaces of Leppävaara make
it particularly attractive, says Tuula Entelä, Vice President, Housing Business 
of SATO Plc. “When the zoning is completed we will build top end rental and     
privately owned homes”, she continues.                                          

The Perkkaa area suits also excellently SRV's residential strategy. SRV is      
extremely happy that SATO and Ilmarinen have joined us in the implementation of 
the project”, says Jukka Hienonen, CEO of SRV. The proximity of apartments and  
offices increases the attraction of both”, believes Hienonen.                   

“The transaction makes a good foundation for residential investments for our    
strategic period. We will develop the Perkkaa area into an even more welcoming  
residential area and implement rental apartments there”, says Tomi Aimonen,     
Ilmarinen's Head of Direct Real Estate Investments.                             

The aim is the zoning revision to be completed in 2012.                         

New environmental-friendly premises for Siemens                                 

The LEED certificate sought for the Siemens' new premises is a widely used      
system in Europe and the United States for evaluating properties'               
sustainability.                                                                 

”Siemens offers sustainable solutions for power production, transmission and    
distribution as well as energy efficient solutions for industry and buildings.  
Therefore we must also walk the walk and show a good example. This is why       
sustainable office is very important to us”, Siemens Osakeyhtiö CEO Martti      
Kohtanen says.                                                                  

”Energy efficiency is important and its importance is growing in property       
investments. This is why we are proud of being able to be part of building new  
very environmentally friendly offices for Siemens in Finland. The set goal of   
LEED GOLD certificate is going to require a lot of work and intelligent         
solutions, but it is well worth it,” the CEO of SRV Jukka Hienonen says.        

The new Siemens office will be built in environmentally friendly way with the   
company's own building technology solutions, Osram's energy efficient lighting  
technology and using geothermal heating. Siemens will remain in the current     
office premises as a tenant until the new office in Vermonsolmu in Perkkaa is   
ready at latest in 2014.          

The Derby Business Park to be built by SRV comprises 19,000 square meters of    
modern offices, of which Siemens will take around 7,400 square meters. It will  
be completed in August 2014, at the latest.                                     


SRV Group Plc                                                                   
Jukka Hienonen                                                                  
CEO                                                                             


Further information:                                                            
Timo Nieminen, Senior Executive Vice President, SRV Group Plc, tel +358 201 45  
5244, gsm +358 400 424 552                                                      

Illustrations for media: www.srv.fi/perkkaa-photos                              

Distribution: Nasdaq OMX Helsinki, main media