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PROPERTY INVESTMENT PROSPECTS - PIP 2005 – Baltic countries – St. Petersburg 10th-11th November 2005 Hotel Rantasipi Aulanko, Hämeenlinna, Finland

Finland

St. Petersburg

Baltic countries

Real Estate Training Institute Inc. Finland in collaboration with Russian, Baltic and Finnish partners in association with the Annual Convention of Real Estate and Construction Industries in Finland PROPERTY INVESTMENT

Seminar program

Thursday 10th November 2005

12.00 Registration and lunch

INVESTMENT BUSINESS PRACTICES AND OPPORTUNITIES Chairman: Mr. Martti Rautee, Chairman, EuroRus Management & Investment Services Mr Jussi Palmu, Director, Catella Property Oy

13.30 Welcome to Finland and to the Annual Convention of Real Estate and Construction Industries Mr. Juhani Reen, Managing Director, The Finnish Association of Building Owners and Construction Clients

13.35 MARKET ANALYSIS AND CROSS-BORDER INVESTMENT ACTIVITY Mr. Timo Nurminen, Managing Director, Catella Property Oy * Finland, the Baltic countries and St. Petersburg * Market transparency and comparative information

14.00 PROPERTY INVESTMENT ENVIRONMENT OF ST. PETERSBURG Mr. Nikolay Asaul, Deputy Chairman of the Committee of Investments and Strategical Projects, Government of St. Petersburg * Opening new investment opportunities: Waterfront regeneration/Neva, etc. * Developing collaboration, administration and investment processes

14.40 Coffee/tea

15.10 MARKET FACTS AND PROPERTY INVESTMENT PRACTICES IN ST. PETERSBURG Mr. Grigori Dudarev, Director General, Solid Invest/, St. Petersburg, Moscow * Major players in the property investment business *Creating and managing local/cross-border co-operation

15.40 PROPERTY MANAGEMENT PRACTICES IN ST. PETERSBURG - SECURING AND MANAGING RETURNS Mr. Charles L. Voss, General Director, REIM SMT OOO in association with Coldwell Banker Europe, St. Petersburg *Property management processes and practices * Co-operation with investors and local authorities

16.10 Break/questions and answers

16.30 INVESTING IN THE BALTIC COUNTRIES - ANALYSIS AND PRACTICES Mr. Lars Ohnemus, Managing Director, Baltic Property Trust * Estonia, Latvia, Lithuania * Investment opportunities and practices

17.00 CREATING AND LAUNCHING BALTIC PROPERTY INVESTMENT FUND Mr. Petteri Nurminen, Managing Director, Evli Property Investments * Strategy and financial sources * Investment prospects

17.30 REAL ESTATE FINANCE AND FINANCING ENVIRONMENT IN RUSSIA Mr. Markus J. Leininger, Head Corporate Banking Central and Eastern Europe, Eurohypo AG * Financing solutions and risk management * Financing acquisitions and new developments

18.00 Session closing and evening program / Chairman

18.15 Networking and exhibition: New developments, property and asset management services.

20.30 Dinner T PROSPECTS - Kiinteistö-,PIP 2005 tila- ja rakennusliiketoiminnan Vuosiseminaari

Finland – Baltic countries – St. Petersburg Rantasipi Aulanko Hotel, Hämeenlinna, Finland 10th-11th November 2005

th Friday11 November 2005 Who should attend Representatives of investors – institutional, funds, property investment companies, developers and investment advisory companies – who Breakfast are interested in the Russian, Baltic and Finnish property investment market. All such representatives will find the seminar extremely useful. 09.00 PROPERTY INVESTMENT POSSIBILITIES IN FINLAND So will specialists in law, design and other business fields who want Chairman: Mr. Ari Ahonen, Director, to understand the business logic of the emerging market of Russia / National Technology Agency of Finland (TEKES) the Baltic countries and the hot market of Finland.

09.05 THE RETAIL MARKET IN FINLAND Finland’s hot market Mr. Kyösti Pätynen, Managing Director, Entrecon Ltd. The seminar will take place in association with the Annual Convention * Retail business characteristics and of Finnish Real Estate and Construction Industries, which gathers together all major Finnish players. The participants represent the demand of new premises institutional investors, property companies, banks, private * Retail network and new investment possibilities foundations, management companies, law firms, end-users and service providers. Please see website www.vuosiseminaari.fi/english 09.35 THE OFFICE MARKET IN FINLAND Mr. Reijo Päärni, Marketing Director, The goals of the seminar NCC Property Development Ltd. To develop a thorough understanding of property business practices * The demand and supply of office space in St. Petersburg and the Baltic countries. * New office developments To provide information about the new property investment opportunities in Finland, St. Petersburg and the Baltic countries. 10.05 THE LOGISTICS MARKET IN FINLAND To share experiences and market information related to Finnish, office, Mr. Jani Tikkanen, Senior Consultant, retail, commercial and logistics property markets. ELC Finland Ltd, a Member of To provide possibilities for networking with experienced professionals European Logistics Consultants in the field of property business. * Finland - logistic network and gateway to the East To provide valuable information, knowledge and experiences for * New logistics service centers and developing successful investment strategies. property investment prospects Registration information 10.35 CLOSING KEY NOTE: As the seminar is limited in space availability, you are encouraged to FINNISH PROPERTY MARKET - register early. Enrolments will be accepted on a first-come, first-served basis. Please note: all seminar information and seminar outlines are KEY FACTS FOR INVESTORS subject to changes without prior notice. Mr. Olli Olkkonen, Managing Director, KTI Finland * Competitive advantages in the future You can register in three ways * Key facts - What is happening? Register online www.propertyinvest.fi Mail completed registration form to Kiinteistöalan Koulutuskeskus/ 11.05 Lunch Aija Kekäläinen, Malmin asematie 6, FIN-00700 Helsinki. Fax your completed registration form to Kiinteistöalan Koulutuskeskus 12.15 Departure for post-conference tours at + 358 9 3511 360. (lasting about 4 hours). - Post-conference tours departing from Registration fee and early birds advantage the Rantasipi Aulanko Hotel and ending Seminar fee is 875 euros + VAT 22% until 15th July 2005, in the City of Helsinki, hosted by Finnish companies after 15th July seminar fee is 998 euros + VAT 22%. The registration fee includes tuition, all seminar materials, lunch a) Helsinki City development and Center, (10.11.), dinner and daily refreshments. hosted by SRV Group The fee will be invoiced before the seminar. b) Leppävaara - urban development and Cancellations must be received before 1.11.2005. No refund can be shopping center , hosted by Skanska made after that date, although you may transfer your registration to c) Business Parks - Airport Plaza and other new another member of your organisation. developments, hosted by NCC Property Hotel accommodations Development Ltd. The seminar venue, the Rantasipi Aulanko Hotel, is located at Aulangontie, Hämeenlinna, Finland, phone +358 3 658801, www.rantasipi.fi 14.00 Departure of the conference bus for the airport and Hotel accommodations are not included in the registration fee. Price the City of Helsinki is approximately 110 euros for a single per night. Hotel reservations with registration to Aija Kekäläinen. If you have any questions please do not hesitate to ask [email protected].

Ground transportation Taxi is available from Helsinki- Airport. Price is approximately 150 euros, travelling time about one hour.

Questions Please do not hesitate to ask. We prefer email: [email protected]

A very warm welcome to Finland! Registration PROPERTY INVESTMENT PROSPECTS - PIP 2005 Finland - Baltic countries - St. Petersburg Rantasipi Aulanko Hotel, Hämeenlinna, Finland 10th-11th November 2005

Registration fee 998 euros + 22% Finnish VAT. You will get the early bird's advantage price 875 euros + VAT 22% until 15th July 2005.

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Hotel Accommodations Room reservation for 10th to 11th November (not included in seminar fee) Yes please No thank you

Participating post-conference tours on friday A. Helsinki City development and Kamppi Center, hosted by SRV Group B. Espoo Leppävaara - urban development and shopping center Sello, hosted by Skanska C. Business Parks - Airport Plaza and other new developments hosted by NCC Property Development Ltd. D. Not participating

Yes please No thank you

Tentative question Interested in bus transportation on Thursday morning from Helsinki-Vantaa airport to the seminar place (not included in seminar fee)

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Real Estate Training Institute Inc Finland Malmin asematie 6, FI-00700 Helsinki Finland, EUROPE tel. +358 (9) 350 9290 www.kiinko.fi