Eastern European Markets
October, 7. 2005

Technopolis is preparing to build a technology center in St. Petersburg

Technopolis Plc is preparing to build a technology center in St. Petersburg. The company and the City of St. Petersburg signed a memorandum of understanding related to this on Friday. The parties next intend to draw up an investment contract concerning the project. Pertti Huuskonen, President and CEO of Technopolis, points out that the technology center under preparation is intended for both Finnish and international companies. The intention is that it will become Russia’s first technology center operating with a modern, highly-tuned concept.

According to Pertti Huuskonen the situation in Russia is now very promising for the establishment of a technology center. Russia’s social development, rapidly growing economy and inflow of international companies are creating excellent conditions and strong demand for a modern infrastructure for high tech companies. Finnish experience in the Russian market will also facilitate the initiation of operations.

'Our expansion to St. Petersburg is in line with our growth strategy, which is to extend our operations beyond Finland to include also Russia and the Baltic countries. We already took a step in the direction of Russia a couple of weeks ago when we announced a preliminary agreement on the acquisition of Technology Centre Kareltek Inc in Lappeenranta. Kareltek has worked with the people of St. Petersburg for a long time already,' says Huuskonen.

The establishment of Finland’s technology center concept in St. Petersburg is a good start for innovation cooperation between Finland and Russia, says Finland’s Prime Minister, Matti Vanhanen, who is participating in St. Petersburg's Technology Day. Finland’s innovation economy can now combine forces with Russia’s expanding market and advanced basic research. This will open up extensive opportunities for Finland's growth companies and strengthen Finland's position in the global operating environment. With the support of the Lappeenranta operations the project will also bring added stimulus in the long term to the Southeastern Finland economy, adds Vanhanen.

The goal of the City of St. Petersburg is to seek 'special economic area' status for the technology center. This would produce tax advantages for the area’s companies. The city has already begun preparations related to an application for special economic area status.

Technopolis and the City of St. Petersburg signed the memorandum of understanding at a Technology Day held in St. Petersburg on Friday. This time the Technology Day was closely linked to the inauguration of the St. Petersburg manufacturing plant of the Finnish company Elcoteq. The City of St. Petersburg intends to make the Technology Day an annual event.

In terms of number of customers, Technopolis Plc is one of Europe’s largest technology centers. It is also one of the largest companies in Finland specializing in providing operating environments for high tech companies. It offers a comprehensive service package combining modern premises, business and individual services, development programs and consultation. Technopolis currently operates in Oulu, Vantaa and Espoo, and is preparing to enter the Baltic and Russian markets. Approximately 8,000 people, representing nearly 600 companies, work in its technology centers.

For further information:
Technopolis Plc
Pertti Huuskonen, President and CEO,
tel. +358 400 680 816

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