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Eastern European Markets

PRESS RELEASE
December the 9th, 2011

Rautakesko opened Moscow´s first K-Rauta

The first Nordic building and interior decoration concept was welcomed by customers as Rautakesko opened its 14th and at the same time Russia's largest K-rauta in Moscow. K-rauta Moscow Varshavskoe is the first K-rauta in Moscow. The second department store for building and interior decoration will open in Moscow in spring 2012.

- Russia is strategically a very important market for Rautakesko. We have gained valuable experiences from St. Petersburg and cities around Moscow, which we can leverage in the business and concept development. The store opening in Moscow, Russia's number one metropolis, is a logical next step in the implementation of our expansion strategy in Russia. The store network expansion will improve the competitiveness and visibility of the whole K-rauta chain in Russia, said Mikko Nissinen, Rautakesko's Country Director for Russia.

-We are proud of the Finnish companies in Russia which have a long history of responsible development and clear business objectives. Efficiency, quality and responsibility are the focal areas which ensure K-rauta's position in Finland and the other operating countries, said Ambassador Matti Anttonen of the Finnish Embassy, who represented the State of Finland at the opening ceremony.

From customer's ideas to solutions

The new Moscow store is a modern, diversified and service oriented department store for building, renovation and interior decoration needs, with a special emphasis on design services. Abundant interior decoration solutions and displays in the showroom area provide customers with new ideas, facilitate planning and decision making.

The second department store for building supplies to open in Moscow in spring 2012

Rautakesko will open Moscow's second K-rauta department store (K-rauta Leningradskoe) in spring 2012. In addition, ten more new K-rauta stores are planned to open in 2012 - 2015. The objective for Russia is to achieve €800 million in net sales by the end of 2015. The capital expenditure will be some €300 million. In addition to the new Moscow department store, Rautakesko currently operates 10 K-rauta stores in St. Petersburg and a store in Jaroslavl, Kaluga and Tula.

Russia's largest K-rauta Varshavskoe in figures

K-rauta Varshavskoe is located in southern Moscow, at the crossing of Varshavskoe Shosse and the MKAD ring road. The built-up area of the new store is nearly 16,000 m2, of which over 11,000 m2 is heated selling area. The store employs more than 230 people the year round.

Further information
Rautakesko, Mikko Nissinen, Country Director for Russia, tel. + 792 1864 5884
Rautakesko, Timo Virtanen, Director, International operations, tel. +358 50 306 4191

www.rautakesko.fi


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