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Participation of Copelouzos Group in the development and operation of the Pulkovo Airport in St. Petersburg

COPELOUZOS GROUP, through its company “Horizon Air Investments S.A.” has further developed its activities in the airport development and management sector through its participation in one of the largest development projects of Russia.

“Northern Capital Gateway”, has been declared today preferred bidder of the international tender which was launched in 2008 by the Government of the city of St. Petersburg for the development, reconstruction and operation of the Pulkovo Airport.

In the “Northern Capital Gateway” participates Horizon Air Investments S.A. member of COPELOUZOS GROUP with the German company Fraport AG, which manages and functions inter alia the airport of Frankfurt, one from the three bigger airports of Europe, and the Russian VTB Capital, member of Group VTB, that constitutes one of the bigger government owned banking groups of Russia.

The PPP Agreement, which will be signed between the joint company of the three shareholders and the Government of St. Petersburg, will have duration of 30 years.

Following a long tender procedure, during which the participants were evaluated, “Northern Capital Gateway” was selected as preferred bidder among the initial nine participants. The project, of a budget of 1,5 billion Euro, is currently one of the largest and most important infrastructure projects in Russia and Europe, whereas international banks and financial institutions have already expressed their intention to finance the project. The intention of the three shareholders, for which the specific project is of top priority, is to reconstruct and to operate a modern airport which will comply with the highest international standards, will provide top-class services to passengers and airlines, will promote new destinations and will develop its commercial potential with the ultimate aim to become an important international hub.

COPELOUZOS GROUP already participates in the share capital of Athens International Airport and the above investment constitutes another step in the series of the Group’s investments in airport development projects in Europe.

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