12th May 2008 06:00
12 May 2008 RAVEN RUSSIA LIMITED ("the Company" or "Raven Russia") PRE-LETTING OF A FURTHER 24,130 SQ M WAREHOUSE IN MOSCOW Raven Russia Limited, the Guernsey registered, AIM listed property investmentcompany, announces the pre-letting of the balance of its warehouse developmentwith EGL in Moscow. Raven Russia has signed preliminary agreements to let 24,130 sq m (260,000 sqft) of its 55,000sq m (592,000sq ft) EGL project to the north of Moscow toNippon Express, a global logistics operator, for a seven-year term, at a rentahead of expectations. The building is due for completion by the end of 2008. This project is now 100% prelet; 30,000sq m was already prelet to EGL for a termof 5 years. Anton Bilton, Chairman of the Property Adviser to Raven Russia commented:"Supply of quality warehouse space in Moscow continues to be limited and tenantdemand remains strong. The preletting to Nippon illustrates we are in the rightmarket at the right time". Richard Jewson, Chairman of Raven Russia commented: "Raven Russia is makingexcellent progress in turning its development pipeline into income producingassets. This leasing to Nippon demonstrates the demand from internationaltenants for the Grade A space we are constructing". Enquiries: Numis Securities LimitedRupert Kefting Tel: +44 (0) 207 260 1000Nick Westlake Tavistock Communications:Jeremy Carey Tel: +44 (0) 207 920 [email protected] Notes for Editors Raven Russia is a leading UK listed property investment and development companyfocused on warehouses in Russia. Since its inception in July 2005 it hasinvested in a pipeline of projects with an estimated end value of US$2.4 billionin Russia and Ukraine. Raven Russia has an equity base of over US$900 millionand has appointed RRPM a subsidiary of Raven Mount plc as its Property Adviser.Further information available at www.ravenrussia.com. Nippon Express is a global logistics services provider headquartered in Tokyo.Established in 1872 it currently employs around 69,000 people in 1,500cities, 38 countries (including Japan) . Nippon Express is listed on the Tokyostock exchange with a market cap in excess in USD 700 million. It had revenuesRelated Shares:
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