Sponda - Company Announcement

Sponda purchased office property in centre of Moscow for USD 185 million

Sponda Plc			Stock Exchange Release 8 July 2008 at 12:05

Sponda purchased office property in centre of Moscow for USD 185 million

Real estate investor Sponda Plc has purchased the Ducat II office property
located in the centre of Moscow for USD 185 million from LR Ducat Holding AB.
Sponda has a net yield target of more than 9 % for the property. 

Ducat II lies in a central location close to Tverskaya Street and Pushkin
Square, approximately three kilometres from Red Square. The property is located
at Gasheka Street 7, near the Mayakovskaya metro station. The fully leased
property has about 14,300 square metres of A-grade office premises, 1,300
square metres of retail property and parking for 143 vehicles. 

Several well-known international companies operate with long-term leases in the
high-class office and retail premises in this property that was built in 1997.
Ducat II is part of an office complex, which comprises of three modern office
buildings. 

The purchase will be financed by unused credit facilities agreed in March 2008.
Sponda aims to finance the company's growth in Russia by selling some of its
property in Finland. 

Russia's strong economic growth is also reflected in the country's property
market. There is a severe shortage of high quality, A-grade office premises
especially in the Moscow region, and the increased demand for quality premises
is shown in favourable trends in rents in the city centre. 


Sponda Plc



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


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 2.7 billion euros and
the leasable area is around 1.4 million m².