Sponda - Company Announcement

Sponda partnering in Russian Invest real estate investment company to be established

Sponda Plc Stock exchange release 12 September 2011, 11:00 a.m.

Sponda partnering in Russian Invest real estate investment company to be
established 

Real estate investment company Sponda has signed an agreement with SRV,
Ilmarinen, Etera and Onvest to establish Russian Invest, an investment company
in Russia. The newly established company will invest in property investment
projects in Moscow and St Petersburg. SRV will assume responsibility for
project development and marketing and will also act as the leading project
contractor for projects approved by the investment company. 

The partners have committed to invest a total of EUR 95.5 million in the
investment company. Sponda, Ilmarinen and SRV each own 27% of the newly
established company. Etera owns approximately 13 per cent and Onvest about five
per cent. The capital will be tied up only after the investments have been
identified and investment decisions made. 

Otherwise, the aim is to finance Russian Invest development projects through
project-specific bank loans. The total investment amount may reach
approximately EUR 300 million. The investment company's strategy is to sell off
the completed properties after a few years of ownership. 

- The business concept of Russian Invest supports Sponda's growth strategy in
Russia. During the investment period we will have the opportunity to acquire
new properties that meet international standards from the joint venture and
thereby grow our Russian property portfolio, says Kari Inkinen, CEO of Sponda
Plc. 

Sponda has been operating in the Russian market since 2006 and established
itself as a provider of quality business premises and as a property investor
that invests in long-term property development. Sponda's properties are in
central locations in Moscow and St Petersburg. 

Sponda Plc


Further information: Kari Inkinen, President and CEO, tel. +358 400 402 653



Sponda Plc is a real estate investment company specialising 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 3.1 billion and
the leasable area is around 1.5 million square metres.