2008-07-02 14:44Press release

Niam sells shopping centre in Finland

Niam and Whitehall Real Estate Funds along with Etera Mutual Pension Insurance Company and Apteekkien Eläkekassa have sold the Pasaati Shopping Centre to Kauppakeskuskiinteistöt FEA Ky, a fund managed by Aberdeen Property Investors Finland Oy.

The sold shopping centre was part of the Sisu Commercial Portfolio acquired by Niam Fund III and Whitehall Real Estate Funds in a joint venture in 2007. It is the biggest shopping centre in the southeast part of Finland located in the city centre of Kotka. The whole shopping centre comprises almost 30,000 sq m of lettable area, of which Niam/Whitehall owned approximately 30%.

Johan Bergman, Managing Director of Niam, comments: “We are very satisfied with the results of this sale in a constantly changing market. We continue to closely follow the market and execute on transactions that we believe in.”

The closing took place on July 1. The Sellers’ advisor was Newsec Oy.

For further information, please contact:

Johan Bergman, Managing Director, Niam AB +46 8 5175 8500

Jennifer Andersson, Director, Niam AB +46 8 5175 8559

Pekka Salakka, Senior Director, Niam AB +35 8 5005 00802

About Niam AB

Niam, founded in 1998, is a leading private equity real estate firm in Northern Europe. Our head office is located in Stockholm, Sweden, and we have local offices in the Nordic capital cities of Oslo, Helsinki and Copenhagen. Niam has one of the largest real estate teams specifically focused on the Nordic Region. We recognize that our core strength is our people and our success is dependent upon attracting and developing the top real estate professionals in the region. Simply stated…Niam is people. Niam strives to be the Partner of Choice for Nordic real estate. Our network encompasses strong relationships that extend over decades with leading global institutional investors, European banks, tenants, municipalities and the local community. Our top managers average over 26 years of direct real estate experience. It is this collection of knowledge that makes Niam the Partner of Choice.