Sponda - Company Announcement

Sponda purchases a Moscow office property for USD 47 million

Sponda Plc            Stock Exchange Release           14 June 2012 at 6:00 p.m.

Sponda purchases a Moscow office property for USD 47 million

Property investment company Sponda Plc has purchased the Bakhrushina House
office building in downtown Moscow for USD 47 million from UFG Real Estate. Net
initial yield for the property is over 9.5%. 

The Bakhrushina House is located at Bakhrushina Street 32, at the intersection
of Garden Ring and Bakhrushina Street. The office building close to the
Paveletskaya metro station and the railway station has excellent connections to
the Domodedovo International Airport and the southern neighbourhoods of Moscow.
The Red Square is approximately 2.5 kilometres away from the office building. 

The building completed in 2002 has a total of approximately 4,000 square metres
of office and retail premises for rent. Many leaders in their fields of
business as well as internationally renowned companies operate in this
fully-rented property. 

- For us, the Bakhrushina House is a good acquisition and an excellent addition
to our property ownership in Moscow. The demand for high-quality office
premises in downtown Moscow has remained strong and the rents have been on the
increase. The positive development is believed to continue especially near the
Garden Ring, where large limitations have been imposed on new construction,
says Sirpa Sara-aho, Senior Vice President of Sponda. 

The property transaction supports Sponda's growth in Russia in accordance with
its strategy. Sponda's long-term goal is to have 10-20% of its balance sheet
invested in Russia, in properties located in Moscow and St. Petersburg. Sponda
has operated in the Russian market since 2006 and owns ten properties in Russia
after this transaction. 

Sponda Plc


For further information, please contact:
President and CEO Kari Inkinen, tel. +358 400 402 653



Sponda Plc is a property investment company that specialises 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 3.2 billion and
the leasable area is around 1.5 million square metres.