Eastern European Markets
February, 3. 2006

Preparation of the Technopolis St. Petersburg project has begun.
A special economis zone offers benefits to companies.

Technopolis Plc has started the practical arrangements for the Technopolis St. Petersburg project. Technopolis is currently negotiating with companies on locating research and development units in a technology center to be built in the special economic zone of Neudorf, St. Petersburg, and also with manufacturers on building production facilities in the St. Petersburg area.

The Russian authorities are speeding up the arrival of Technopolis to St. Petersburg to allow Finnish medium-sized and large companies to get settled in the growing Russian market. Negotiations are under way between the City of St. Petersburg and Technopolis on details of the investment agreement. The agreement includes the construction of infrastructure, energy tariffs, taxes and other benefits.

Technopolis Plc is prepared to build operating facilities for companies going to Russia. Construction cannot be initiated until leasing agreements have been signed with corporate customers. 'We are hopeful, because good production and office facilities in an operating environment with a reliable partner is the missing link in many Finnish companies' Russian concept. We will fix this problem through the Technopolis St. Petersburg project. We are providing our customers with the same kind of certainty they have at home,' says Pertti Huuskonen, President and CEO of Technopolis Plc.

The Russian state and the St. Petersburg regional administration wish to boost the growth of Finnish companies in the St. Petersburg area. The technology center of the Neudorf special economic zone offers companies that operate there tax relief, lower social expenses, partial exemption from customs and a good service structure. The authorities in the area are also marketing St. Petersburg as an area with an easily available well-educated work force, low monthly salaries for workers, and a fast-growing market economy.

Technopolis St. Petersburg is one of Russia's first Western technology center projects. The Finnish state has also promoted the project, because it is seen to be beneficial to Finland. Currently some Western companies, such as Bosch Siemens, Toyota and Elqotec have already built their own factories in St. Petersburg.

Finpro and Technopolis to sign letter of intent Technopolis and Finpro have signed a letter of intent which includes, among other things, the hiring of a joint project manager to St. Petersburg. Finpro's objective is to promote Finnish companies' exports to Russia. It is here that the St. Petersburg technology center can play a key role, because it will help companies to build their business with a familiar business partner.

Technopolis St. Petersburg will facilitate the introduction of Finnish companies to Russia, because the complicated process of finding and building operating premises will be avoided, as we can offer these as a ready-made package to companies expanding abroad. We can also offer the Technopolis business services that are also available to all our customers in Finland,' says Director Kari Mikkonen of Technopolis Plc who is in charge of St. Petersburg operations.

The Russian President Vladimir Putin approved a law in July 2005 concerning the special economic zone. The special economic zone (SEZ) will be valid for at least 20 years from its establishment.

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

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