Sponda purchases a 46 hectare site in Leningrad province In pursuit of its strategy to expand its property investment operations in Russia, Finnish Real estate investment company Sponda Plc through its subsidiary OOO Veika has purchased a 46-hectare land site near St. Petersburg in Leningrad province for approximately EUR 9.5 million. The company plans to develop the site in stages into a logistics facility covering roughly 160,000 m2 in stages. The project is currently being considered by the authorities and the aim is to start the planning work during summer 2007. Sponda Plc Further information: Kari Inkinen, President and CEO, tel. +358-20-431 3311 or Sirpa Sara-aho, Director, Russia and the Baltic Countries, tel. +358-20-431 3498. Sponda Plc is a real estate company specializing 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 2.6 billion and the leasable area is around 2 million m². Sponda is the largest real estate investment company listed on the Helsinki Stock Exchange.