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News Release

Moscow

LETO shopping center is more than 70% leased out


Moscow, 30 March 2010LETO Shopping and Entertainment center is already more than 70% leased out. This was announced last Friday, the 26th of March, at the business breakfast which was organized by Sistema-Hals, Apsys Group and Jones Lang LaSalle at the Ritz-Carlton hotel in Moscow.

The business breakfast was aimed at updating existing tenants on the current status of the leasing and planning of LETO project in St. Petersburg. The event was attended by more than 150 retailers and representatives of the participants of the Project. Fabrice Bansay, General Director of Apsys Russia, and Teimuraz Shengelia, Vice-President - Head of Commercial Real Estate Division of Sistema-Hals, announced current project progress including the construction status, pointed their satisfaction with the partnership and emphasized the stable future of LETO shopping center. Ekaterina Zemskaya, Associate Director, Retail department of Jones Lang LaSalle presented current project status, leasing dynamics and last project changes. Anchor LETO tenants told about their positive experience of the cooperation with project team.

Fabrice Bansay, General Director of Apsys Russia said “Synergy created by Apsys Group and Sistema-Hals combines European expertise in retail industry and excellent knowledge of Russian real estate development. Both of these factors will make of “LETO” a successful and professional retail product which is crucial today when tenants have strongly increased the requirements for choosing spaces for their stores”.
 
Teimuraz Shengelia, Vice-President - Head of Commercial Real Estate Division of Sistema-Hals commented: “While developing such a project we were aiming at creating a high-quality shopping destination that fits all professional requirements. Special attention was paid to high standards of quality & innovative technologies. Today the project is in its final construction stage, we mantle the façade, work with internal engineering systems, already started the fit-out of common areas.”

Maxim Karbasnikoff, European Director Russia and CIS, Head of Retail Department at Jones Lang LaSalle added: “It is no wonder that the leasing process is in such an advanced phase as the Project is being realized by a very professional and experienced team of specialists. The LETO shopping center is not comparable with any other existing shopping center in St Petersburg, it will be of the highest European level”.

Thomas Kerner, Head of expansion department, Media Markt Saturn: «We have chosen the shopping centre LETO as our partner because of its interesting and meticulously developed conception, well-chosen pool of leasers and possibility to open store with necessary for us area. New shopping centre is felicitously located in actively developing residential area - at the intersection of Pulkovskoe shosse and Ring Road. We are especially glad that our fifth store in the Northern capital of Russia will open in the shopping centre LETO».

On a retail space of 80,000 square meters the LETO shopping and entertainment center will house more than 200 shops of well-known international and federal brands which will offer a unique variety of goods and services. To date, among others lease agreements are already signed, by Auchan hypermarket of 11,600 sq m, Media Markt for electronics goods on 6,000 sq m, H&M of 1,700 sq m, Inditex (Zara, Pull and Bear, Bershka, Stradivarius) of 3,115 sqm, Top Shop, Top Man, Miss Selfridge, Lady&Gentleman, Reserved, New Yorker, Ann Christine, Mothercare, NEXT, Claire’s, The Body Shop, Justice, Le Pain Quotidian, Motivi, Promod, L’Etoile and many others.

The complex will also offer a big food court with a various offer of restaurants, a huge entertainment area with cinema multiplex (10 halls) and an ice rink of 1000 sq m.

For the design idea of the mall, the English design company “virgile and stone” used the Franco-Russian connection, build on a mutual exchange of culture and commerce. These
places represent the summer feeling of the French Riviera. For that the special design of the floor tiles – light and dark brown – will create a warm atmosphere. The imagination of Shadow and Sunlight which take turns through the mall.
In such an atmosphere it is pleasant to meet with friends, go shopping or relax in the special bars located in these places.
More than 3,200 parking spaces will secure a convenient access to the center.

The shopping and entertainment center is ideally located at the cross of Pulkovskoye shosse and the Ring Road which provides for easy transport access to the Center and has a high visibility.
 
 

Sistema-Hals ("the Company") is one of the leading diversified company in the Russian and CIS real estate market. The Company was the first Russian property developer to list its shares on the main market of the London Stock Exchange. The Company's shares are also listed on the Moscow Interbank Currency Exchange and the Moscow Stock Exchange and the Russian Trading System Stock Exchange.Main shareholders of Sistema-Hals are Bank VTB (51.24%) and AFK "Sistema" (27.6%); free float is about 18%.
Starting operations in 1994, Sistema-Hals has successfully completed about 40 projects with a total area over 450,000 square metres, including several residential complexes in Kuntsevo, the headquarters of the DaimlerChrysler company, the Hals Tower office building, the headquarters of the Trubnaya Metallurgical Company, the hotel for the MaMaison chain (Orco Property Group).
Sistema-Hals implements the development of the Leningradsky Towers complex in Moscow; carries out the complex program of redeveloping the facilites of the Moscow City Telephone networks; reconstructs the building of the Central "Detsky Mir" on Lubyanka and fulfils several other projects.
Sistema-Hals has assembled a balanced and diversified portfolio of assets in fast-growing sectors of the market. The Company's strategy is focused on building Class A and B office space, multifunctional retail and office complexes, business-class residential buildings.
 
Apsys is a global retail real estate operator with a long term investment portfolio with the shopping centers that it develops. The core business of Apsys and its affiliates is the development, the letting and the management of shopping centers. The Apsys group has been created in 1996 by its President Maurice Bansay and Foncière Euris, a Paris listed group dedicated to retail (FMCG et sport) and real estate. Apsys has first developed its activities in Poland, where it is now the leader in the shopping center industry, and in France since 2002. The group has completed over 450,000 sq.m. retail development, among which the landmark Manufaktura retail and entertainment center in the Center of Lodz, Poland's second largest city, a 150,000 sq.m. development in an 19th century textile factory. Manufaktura has been awarded by many international prizes, such as the ULI Award for Excellence - World 2007 by the Urban Land Institute.
 
Media Markt is the leader of European household appliances and electronics retail market. The successes of the chain, which was founded in 1979 and now is a part of Media-Saturn-Holding GmbH, is based on the unique assortment of the popular brand products with low prices, staff competency, qualitative service, bright advertising and   decentralized management structure. Managing director of each store is responsible for product assortment, price formation, staff and marketing. Media Markt chain has 21 store in Russia and more than 580 stores in 14 countries. In 2009, Media-Saturn-Holding GmbH sales has reached 19.7 billions euro.
 
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specialising in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility
management services, with a portfolio of approximately 130 million square metres worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management.
In Russia and CIS Jones Lang LaSalle have offices in Moscow, St. Petersburg, Kiev and Almaty. Jones Lang LaSalle, Russia was voted Consultant of the Year in 2004, 2006, 2007, 2008 and 2009 at the Commercial Real Estate Awards, Moscow and Consultant of the Year at the Commercial Real Estate Awards 2009, St. Petersburg. For further information, please visit our Web site http://www.joneslanglasalle.ru