Sistema-Hals JSC - 100% Stake Kamelia Health Spa
RNS Number:6536ISistema-Hals JSC28 November 2007
SISTEMA-HALS INCREASES STAKE IN KAMELIA HEALTH SPA TO 100%MOSCOW, RUSSIA - 28 November, 2007- Sistema-Hals (LSE, MICEX, RTS: HALS), aleading, diversified company in the Russian and CIS real estate market, hastoday announced that it has acquired a further 4.42% of the shares of KAMELIAHealth Spa, taking its total holding to 100%. In order to optimise the projectmanagement structure, the entire stake has been transferred to KameliaInvestment, a 100% subsidiary of Sistema-Hals.KAMELIA Health Spa occupies an area of land measuring 6.3ha under a long-termlease (49 years), at 89 Kurortny Avenue, Khostinsky District, Sochi.Sistema-Hals plans to build a modern resort complex on the site, including a5-star hotel, club-style apartments and proprietary infrastructure sites. Thecomplex will cover around 100,000m(2).JSC Sistema-Hals is a leading diversified company in the Russian and CIS realestate market. The core businesses of Sistema-Hals are development, projectmanagement and construction, and property and facilities management.Sistema-Hals was the first Russian property developer to list its shares on themain market of the London Stock Exchange. The company's shares are also listedon the Moscow Interbank Currency Exchange and the Moscow Stock Exchange. Theparent company Sistema holds a 71.1% stake and there is an 18% free float.Sistema-Hals is one of the largest companies by capitalisation operating in thereal estate markets of central and eastern Europe.Since starting operations in 1994, Sistema-Hals has successfully completed morethan 30 projects with a total area in excess of 265,000 square metres, includingthe headquarters of DaimlerChrysler, the Hals Tower office building, theheadquarters of Trubnaya Metallurgical Company and a hotel for the MaMaisonchain (Orco Property Group).At present Sistema-Hals is constructing the Leningradsky Towers complex, whichcomprises two buildings, one of which will be the headquarters of Siemens inMoscow. It is also carrying out a complex redevelopment of the propertyportfolio of Moscow City Telephone Network, rebuilding the Hotel Peking and theflagship Children's World toy store near Lubyanka Square, and pursuing a seriesof other projects.Sistema-Hals has assembled a balanced and diversified portfolio of assets infast-growing sectors of the market. The company strategy is focused on buildingclass A and B office space, mixed-use retail and office complexes,business-class homes, residential estates and land development.Cushman & Wakefield valued Sistema-Hals' share of the properties and projects inits portfolio at USD 2,882 million as at 1 July 2007.For further information please contact: Anton Klimenko Anna Zavialova Head of Investor Relations PR Manager Sistema-Hals Sistema-Hals Tel. +7 (495) 785-7742 (ext. 3350) Tel. +7 (495) 785-7764 Fax +7 (495) 785 7743 klimenko@sistema-hals.ru zavialova@sistema-hals.ru
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