Sponda - Company Announcement

Sponda sells residential building rights in Helsinki for roughly EUR 13 million

Sponda Plc		Stock Exchange Release 	20 November 2007 14:00

Sponda sells residential building rights in Helsinki for roughly EUR 13 million

Real estate investment company Sponda Plc has sold to VVO group and Tapiola
Mutual Life Assurance Company a plot of land designated for housing production
in the Itäkeskus district of Helsinki for approximately EUR 13 million. The
site has building rights of about 25,000 square metres and is located in
Vanhanlinnantie road in the same block in which Sponda is building the new
Prisma shopping centre for HOK-Elanto. Sponda is recording a profit on the sale
of EUR 8.5 million. 

In this transaction Sponda is selling land that is designated for residential
accommodation and not in line with its strategy. In accordance with the
company's strategy, Sponda is focusing on owning office, retail and logistics
property. 


Sponda Plc 


Further information: 
Kari Inkinen, President and CEO, tel. +358 20 431 3311 
Tapio Järvi, property development manager, tel. +358 20 431 3350



Sponda Plc is a real estate company specializing in commercial properties in
the largest cities in Finland and in 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 2.4 billion euros and
the leasable area is around 1.3 million m². Sponda is the largest real estate
investment company listed on the Helsinki Stock Exchange.