Fraport Consortium Signs Airport Concession Agreement in St. Petersburg

ST. PETERSBURG - Fraport AG’s executive board chairman Dr. Stefan Schulte today signed the public-private-partnership agreement (PPP agreement) for developing, reconstructing and operating St. Petersburg’s Pulkovo Airport, the fourth largest airport in Russia. “Fraport and its partners in the Northern Capital Gateway consortium can be proud of winning the concession bid and to be soon taking over operation of Pulkovo Airport in April 2010,” declared Schulte at the contract signing. “With Fraport, the City of St. Petersburg has found a partner that is fully dedicated to the project. We intend to make the development of Pulkovo a model project for the Russian aviation industry and for us as an airport manager.”

Using its extensive expertise, Fraport intends to make Pulkovo Airport the main transportation hub for one of Russia’s most popular tourist regions and to expand and operate it in a steadily growing market. “With today’s signing, Fraport has landed in this important market of the future,” stressed Schulte.

Fraport holds a 35.5 percent stake in the Northern Capital Gateway consortium; its partners are VTB Bank (with 57.5 percent), Russia’s second largest financial institution; and Copelouzos Group (7 percent), a Greek business and investment conglomerate. Northern Capital Gateway will be responsible for the future development of the airport at St.

Petersburg - Russia’s second largest metropolis. The 30-year PPP agreement provides for construction of a new passenger terminal, expansion of apron areas, development of real estate adjacent to the terminal, and modernization of existing infrastructure. A total investment volume of EUR1.4 billion is planned.

Applying its decades of know-how gained at Frankfurt Airport and around the globe, Fraport will support Pulkovo Airport with the planned development program and operations. Within this framework, Fraport experts will prepare the transfer of operations to the Northern Capital Gateway consortium at the beginning of 2010 and obtain the necessary approvals and ensure the conditions for implementing the contract.

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Source: Fraport AG

For Further Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide, Robert A. Payne, B.A.A. - Sr. Manager International Press, Press Office (Dept. UKM-PS), Corporate Communications, 60547 Frankfurt am Main, Germany, Tel.: +49-69-690-78547; Fax: +49-69-690-60548, E-mail: r.payne at fraport.de