Technopolis will acquire a 51% stake in a JV to be set up bySmart City, with Ulemiste holding 49%. The new company, TechnopolisÜlemiste, will hold the property which is located next to TallinnAirport, including about 506,000 square feet of modern officebuildings. On completion of the deal, expected in June,Technopolis-Ulemiste will become part of the Technopolis Group, andwill hold about 10% of the Tallinn office space market.

Technopolis Chairman Pertti Huuskonen commented: "TechnopolisÜlemiste will be our first international acquisition and lays anexcellent foundation for further growth in Estonia. The Technopolisgrowth strategy calls for establishing operations in two-three newcountries outside Finland by the year 2014.", Technopolis providesbusiness and development services for knowledge-intensive companiesand organisations, and has centers in Espoo, Jyväskylä, Kuopio,Lappeenranta, Oulu, Tampere and Vantaa in Finland, and St.Petersburg in Russia.