NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO CANADA, JAPAN OR THE UNITED STATES. Sponda Plc Stock Exchange Release 26 May 2009 11:15 am Publishing of the offering circular related to the rights offering of Sponda Sponda Plc will publish an offering circular relating to the rights offering of 166,545,277 new shares in Sponda. The terms and conditions of the rights offering were published in a separate stock exchange release on 25 May 2009. The Finnish language offering circular, approved by the Finnish Financial Supervisory Authority, will be available on Sponda's website at www.sponda.fi/osakeanti as from 27 May 2009 and is estimated to be available at the subscription places of the rights offering as from 29 May 2009. Helsinki, 26 May 2009 Sponda Plc Further information: Kari Inkinen, President and CEO, tel. +358 20 431 3311 This document is an advertisement for the purposes of applicable measures implementing Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the "Prospectus Directive"). A prospectus prepared pursuant to the Prospectus Directive will be published in connection with any offering of securities, and will be available at subscription locations in Finland. The information contained herein is not for release, publication or distribution, directly or indirectly, in or into Canada, Japan or the United States. The information contained herein does not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. There is no intention to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. This communication does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the securities. Consequently, this communication is directed only at (i) persons who are outside the United Kingdom, (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”) and (iii) high net worth entities falling within Article 49(2) of the FP Order, and other persons to whom it may lawfully be communicated, (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to, and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any EEA Member State that has implemented the Prospectus Directive is only addressed to qualified investors in that Member State within the meaning of the Prospectus Directive. Copies of this announcement are not being made and may not be distributed or sent into Canada, Japan or the United States. Danske Bank A/S, Helsinki Branch and UBS Limited are acting for Sponda and no one else in connection with the rights offering and will not regard any other person (whether or not a recipient of this release) as a client in relation to the rights offering and will not be responsible to anyone other than Sponda for providing the protections afforded to their respective clients or for providing advice in relation to the rights offering or any matters referred to in this release. Neither Danske Bank A/S, Helsinki Branch nor UBS Limited accepts any responsibility whatsoever for the contents of this release, and makes no representation or warranty, express or implied, for the contents of this release, including its accuracy, completeness or verification, or for any other statement made or purported to be made by it, or on its behalf, in connection with Sponda or the ordinary shares or the rights offering, and nothing in this release is or shall be relied upon as, a promise or representation in this respect whether as to the past or future. Danske Bank A/S, Helsinki Branch and UBS Limited accordingly disclaim to the fullest extent permitted by law all and any liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this release or any such statement.