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Eastern European Markets

NEWS RELEASE
March, the 26th 2010

EBRD Will Finance First Phase of Technopolis Pulkovo Technopark Project
with Eur 31.6 Million Loans

The EBDR (The European Bank for Reconstruction and Development) Board of Directors has approved EUR 31.6 million senior A/B loans (A Loan of EUR 21.6 million and B Loan of EUR 10 million) for the new Technopolis Pulkovo center’s first phase, which offers high-quality office space and services for knowledge- intensive companies and their service providers.

The B-loan is expected to be syndicated by Nordea Bank and Pohjola Bank.

“Technopolis will develop and introduce to the Russian market an entirely new concept of operating a commercially funded science and technology park that supports the growth of knowledge-intensive companies, including promising start-ups. The new Pulkovo center will promote the competitiveness of the St. Petersburg region and will introduce a replicable service concept to the market, which will contribute to the evolution of the Russian economy from a raw-material-intensive to a service and knowledge-based model with a better capacity to generate successful innovation.” says Technopolis CEO Keith Silverang.

Sylvia Gansser-Potts, Director of the Property&Tourism Team at EBRD, says:” Science and technology parks can play an important role in improving the climate for industries to commercialise and absorb innovations. St. Petersburg, which is known for its fast-growing IT and other knowledge-intensive industries and universities of high standards, should have a strong intellectual potential for a project of this kind. Technopolis has built up a team of highly qualified international executives to manage the Project, who will bring know-how of operating technoparks on a commercial basis. These qualified managers will collaborate with and provide invaluable experience to their local Russian colleagues. In addition, Technopolis is planning to open a training centre in St. Petersburg for future managers of technoparks in Russia.”

Peter Coachman, Director of Russian Operations for Technopolis, continues: “The Project will also introduce improved energy-efficiency standards to the Russian commercial real estate sector. The Pulkovo center will meet the high level energy efficiency standards of the Finnish construction and engineering contractors who are among the EU leaders in the energy efficiency of buildings. As a result, the Project has a very strong energy efficiency component and its energy performance will exceed Russian national standard requirements by 42.2%.” says Coachman.

The Technopolis Pulkovo center’s first phase have a gross rentable area of 24,100 sq.m and total cost of project is EUR 52.2 million including the building and land plot needed for the first phase.

For further information, please contact:
Technopolis PLC
Keith Silverang, CEO
Phone +358 40 566 7785
Technopolis-Saint-Petersburg LLC
Peter Coachman
Director of Russian Operations
Phone: +99 33 555
Distribution:
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www.technopolis.fi


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