SRV Yhtiöt Oyj — Capital/Financing Update 2014

Dec 29, 2014

Disclosure 320405

SRV Yhtiöt Oyj - Company Announcement

LocalTapiola participates as investor in REDI project

Espoo, Finland, 2014-12-29 09:30 CET (GLOBE NEWSWIRE) -- SRV GROUP PLC STOCK EXCHANGE RELEASE 29 DECEMBER 2014, AT 10.30 AM LocalTapiola participates as investor in REDI project LocalTapiola General and LocalTapiola Life have decided to join the REDI investor consortium. The purpose of the joint venture is to implement the REDI shopping centre and parking facility at Kalasatama, Helsinki. After the participation of LocalTapiola, the capital investment shares of the joint venture that will develop the shopping centre and parking facility will be divided such that SRV's share is 40%, Ilmarinen Mutual Pension Insurance Company's share is 30%, the share of OP-Pohjola Group and a fund managed by the Group is 15%, and LocalTapiola's share is 15%. The total value of the shopping centre and parking facility investment is around EUR 480 million, of which around 50% is intended to be financed with the shareholders' capital investments. The rest of the investment, around 50%, will be covered by project credits, the terms of which SRV is currently negotiating with a syndicate of banks. The objective is to sign the bank financing agreements during the first quarter of 2015, after which SRV will sign with the joint venture a contract valued at around EUR 400 million for the implementation of the shopping centre and parking facility, and launch large-scale construction. SRV is responsible for the design, construction and leasing of the project. SRV Group Plc Taneli Hassinen Vice President, Communications Tel. +358 40 504 3321 taneli.hassinen@srv.fi www.srv.fi