Stock exchange release - 20 Dec

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					Extract from the CapMan Stock exchange release - 20 December 2006

CapMan Real Estate I fund sold its current portfolio for EUR 377.5 million

CapMan Real Estate I fund managed by CapMan Real Estate Oy sold its existing portfolio,
consisting of 22 commercial properties, to Samson Properties Ltd, The Royal Bank of
Scotland (RBS) and Ajanta Oy. The transaction price was EUR 377.5 million.

Samson Properties, RBS and Ajanta Oy will make the acquisition through a jointly owned company. Samson
Properties is the majority shareholder with Ajanta Oy and RBS as minority shareholders. RBS is also
structuring and providing the financing for the transaction. All three companies have wide experience from
real estate investments.

“The announced transaction is a good example of the currently very active real estate market, which has
plenty of buyers, sellers, properties and money in circulation. Demand for larger real estate portfolios is at a
high level and also reflected in sales prices. During our ownership we have developed the portfolio very
actively through new acquisitions, by developing individual properties and by attracting new tenants. The
announced transaction is very good for the fund investors in CapMan Real Estate I,” states Markku Hietala,
the Head of CapMan Real Estate.

“This purchase confirms the interest Samson Properties has in the Finnish real estate market. The portfolio
of properties the consortium is buying offers interesting opportunities and creates a platform for us to operate
on here in Finland. We believe that Finnish expertise and know-how will be valuable in developing our
activities in Finland and elsewhere in Europe,” says Sveinn Björnsson, Managing Director of Samson
Properties Ltd.


CapMan
CapMan is one of the leading private equity investors in the Nordic countries and manages Nordic buyout, mezzanine, technology,
life science and real estate funds with approximately EUR 2.6 billion in total capital. Each investment area has a dedicated team and
altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. Established in 1989, CapMan has
strong experience as a fund manager and as a partner for investors and entrepreneurs. To date CapMan has made over 150 Nordic
investments and over 90 exits. The current portfolio encompasses over 60 companies with an aggregate turnover of approx. EUR 2.5
billion and aggregate personnel of 17,000 people.



Samson Properties
Samson Properties Ltd is an international real estate company lead by Icelandic investors Thor Bjorgolfsson and Bjorgolfur
Gudmundsson. The company has a strong financial background, with an extensive investment network and a track record of building
successful strategic and financial partnership and has a wide ranging experience of real estate investments in Western, Central and
Eastern Europe. The company’s investments are in local real estate companies with strong management, well defined operations and
a growth potential.

The Royal Bank of Scotland plc
The Royal Bank of Scotland, RBS, was founded in Edinburgh in 1727 and is the third largest bank in Europe by market cap with
over 140,000 employees worldwide. RBS is present in the Nordic Region with offices in Stockholm, Helsinki and Oslo. RBS Nordic
Region offers a broad range of financing and risk management products to large corporates, financial institutions and public parties.

Ajanta Oy
Ajanta Oy is a private Finnish investment company, founded in 1989. Ajanta invests in unlisted and listed companies mainly in the
fields of telecommunications, media and biotechnologies. Ajanta has taken part in various corporate restructurings, corporate sales
and mergers as an advisor and as a main strategist.