SHOPPING CENTRES TO BE FORMED INTO A PROPERTY INVESTMENT COMPANY

Merita Real Estate Ltd, Kesko Corporation, Sampo Insurance Company plc, Pohjola Non-Life Insurance Company Limited and Pohjola Life Assurance Company Ltd have come to an agreement about cooperation aiming at the establishment of a real estate investment company to be formed of shopping centres or parts of them owned by the above companies.

At the initial stage, the value of property will total around FIM 2.0 billion. The partners will undertake to expand their ownership of real estate properties in accordance with the company’s business idea.

The shopping centre company to be formed will be listed on the Helsinki Stock Exchange in a manner to be settled upon later.

The project aims at establishing a shopping centre company with strong ownership background, focusing on holding and developing of shopping centres.

The transfer of shopping centres or their parts under new joint ownership will not have immediate effects on the operation, personnel or tenancy of the shopping centres involved.

For further information, please contact at Kesko: Executive Vice President Jouko Tuunainen, telephone +358 1053 22206, or Vice President Heikki Valkjärvi, telephone +358 1053 22166, at Merita Real Estate Ltd: Director Markku Hietala, telephone +358 9 828 579 10, at Sampo Insurance Company plc: Assistant Vice President Jorma Lehtonen, telephone +358 1051 44203, at Pohjola Non-Life Insurance Company Limited and Pohjola Life Assurance Company Ltd: First Vice President Eero Ilkka, telephone +358 1055 93020.