Eastern European Markets
January, 20. 2006

Evli Bank prepares to launch a Russian estate fund

Evli Property Investments Ltd and Catella Property Ltd have signed a cooperation agreement with Euro-Rus Management & Investment Services (ERMS)/Fimera Oy aimed at launching a property fund that will invest in the Russian real estate market. The Chairman of ERMS, Martti Rautee, will serve as the project’s leading Russia expert. Mr. Rautee has been active in the Russian construction and real estate markets for more than 25 years.

”The strong growth of the Russian economy creates also very interesting real estate investment possibilities,” notes Petteri Nurminen, CEO of Evli Property Investments Ltd. ”We want to offer our investors an investment product that is based on solid local expertise and experience. Our planis to have the fund in operation during the first half of 2006,” he continues.

Evli launched Finland’s first real estate fund, Evli Property Investments (EPI) Baltic I Ltd, in April 2005. The fund invests in the Baltic countries and its property portfolio is managed by Finland’s leading real estate consulting firm, Catella Property Ltd.

For further information:
Maunu Lehtimäki, Chief Executive Officer,
Evli Investment Management Ltd
Tel. +358 9 4766 9304
Petteri Nurminen, Chief Executive Officer,
Evli Property Investments Ltd
Tel. +358 9 4766 9271

Timo Nurminen, Chief Executive Officer, Catella Property Ltd
Tel. +358 10 5220 200

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