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January, 4. 2006

Evli’s real estate equity fund EPI Baltic I acquires shopping center in Vilnius

Evli Property Investments (EPI) Baltic I Ltd, Finland’s first real estate equity fund established in April 2005, has acquired the Grand Duke Palace shopping center in central Vilnius. The purchase price is approx. EUR 23 million. The gross area of the shopping center specializing in fashion, beauty care and interior design exceeds 5,800m2. There are some 30 tenants in the shopping center’s three floors, and all the retail premises have been leased. The shopping center was opened on 15 December 2005.

“The Grand Duke Palace is unique in Lithuania, as there are no other such sophisticated shopping centers in the country. The historic, fully renovated building is very centrally located on Gedimino Avenue, the premier shopping street in Vilnius,” says Petteri Nurminen, Managing Director of Evli Property Investments Ltd.

“The fund’s objective is to accumulate a real estate portfolio of around 20-25 properties from the Baltic region during a two-year investment period. We will strive to diversify our investments in different types of premises by also obtaining office, logistics and production facilities,” adds Nurminen.

Through EPI Baltic I, institutions and private individuals had an opportunity to invest in a diversified Baltic real estate portfolio without a general equity market risk. The fund was closed in early December when its equity finance reached the designated EUR 50 million maximum total amount. With this equity capital, the target size of the fund’s real estate portfolio at the end of the investment period will be around EUR 150 million. The operating period of the fund is seven years, but this can be extended depending on the market situation. The portfolio manager of the real estate equity fund is Catella Property Oy.

About Evli Bank PLC
Evli Bank Plc is Finland’s largest privately held, partnership-based investment bank, whose clients are Finnish and international institutions and companies, as well as wealthy private individuals. The company’s professionals serve clients in international groups in three different business units, which are Asset Management, Markets and Corporate Finance. Evli’s mission is to produce value to its clients through its competence. Evli Group’s equity capital totals 54.3 million euros and BIS capital adequacy ratio stood at 16.7% (30 September 2005). The Group employs close to 340 persons. Evli operates in Finland, Sweden, the Baltic countries and Luxembourg as well as in North America through its joint venture Nordic Partners Inc.

For further information:
Petteri Nurminen, Managing Director, Evli Property Investments Ltd
tel. +358 9 4766 9271

www.evli.com


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