SRV sold the hotel in Ekaterinburg

SRV sold the hotel in Ekaterinburg                                              

SRV Russia Ltd, which belongs to the SRV Group, has sold the shares of ZAO      
Nordrus Hotel. ZAO Nordrus Hotel owns the 160-room hotel located in Ekaterinburg
in Russia. The hotel is operated under Park Inn brand. The buyer is Wenaas Hotel
Russia A/S, which belongs to the Norwegian Wenaas Group. The selling price is   
EUR 22.5 million.                                                               

“SRV has been in the Russian market for more than 20 years and has implemented  
over 60 projects. Selling of the hotel, which we constructed, was according to  
our plans and strategy to release equity to be invested in Russia in order to   
increase our operations there”, says Eero Heliövaara, CEO of SRV.               
                                                                                
The transaction requires the consent of the Russian competition authorities,    
which is expected during September/October. The transaction brings an operating 
profit of about EUR 13 million.                                                 


SRV Group Plc                                                                   

Eero Heliövaara                                                                 
CEO                                                                             

Further information:                                                            
Veli-Matti Kullas, Executive Vice President, SRV Russia, tel. +358 40 501 5280  
Hannu Linnoinen, Senior Executive Vice President, CFO, SRV, tel. +358 50 523 850



Distribution:                                                                   
OMX Nordic Exchange in Helsinki                                                 
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