Stock Exchange Releases

TECHNOPOLIS GROUP INTERIM REPORT JANUARY 1 – SEPTEMBER 30, 2008

Technopolis - Interim report 
TECHNOPOLIS PLC    INTERIM REPORT       21.10.2008 at 12.15 a.m.                


TECHNOPOLIS GROUP INTERIM REPORT JANUARY 1 - SEPTEMBER 30, 2008                 

Highlights of 1-9/2008 compared with the corresponding period of 2007:          
- Net sales rose to EUR 53.0 million (EUR 41.2 million), an increase of 28.9 %. 
- EBITDA rose to EUR 28.1 million (EUR 21.5 million), an increase of 30.2 %.    
- Operating profit fell to EUR 25.9 million (EUR 30.4 million) which includes a 
EUR -1.3 million (EUR 9.3 million) change in the fair value of investment       
properties.                                                                     
- Profit before taxes totaled EUR 15.9 million (EUR 23.6 million), a decrease of
32.7 %.                                                                         
- The financial occupancy ratio was 96.4 % (96.6 %).                            
- Earnings per share, diluted, were EUR 0.23/share (EUR 0.42/share).            
- The Group's management expects that in 2008 net sales and EBITDA excluding    
non-recurring gains will grow by 22-26 % over the previous year.                

Keith Silverang, President and CEO:                                             

“The Group's business developed favorably during the review period in spite of  
deteriorating global economic conditions. The financial crisis has had no       
significant impact on the Group's rental or service operations. The financial   
occupancy ratio has remained high and the Group's net sales and occupancy rate  
increased relative to 2007. The main events of the third quarter included the   
completion of the first stage of the Ruoholahti technology center in downtown   
Helsinki, and the completion of the third and fourth stages of the Kontinkangas 
technology center in Oulu. The occupancy rates of the completed properties were 
high from the outset and a positive change in fair market value was recorded for
the properties.”                                                                

Operations                                                                      

The Group's net sales for the third quarter were EUR 53.0 million (EUR 41.2     
million in 1-9/2007), an increase of 28.9 %. Rental income accounted for 81.8 % 
(82.0 %) and service income for 18.2 % (18.0 %) of net sales. EBITDA (earnings  
before interest, taxes, depreciation and amortization) for the period was EUR   
28.1 million (EUR 21.5 million), an increase of 30.2 %. Other operating income  
for the review period includes a nonrecurring capital gain of EUR 0.4 million   
and nonrecurring compensation of EUR 0.5 million for premature lease            
termination. The operating profit for the quarter was EUR 25.9 million (EUR 30.4
million), a decrease of 14.7 %.  The operating profit declined due to a decrease
in the the fair value of investment properties which has no impact on the       
Group's net sales, EBITDA or cash flow.  Depreciation according to plan includes
a nonrecurring item of EUR 0.4 million. The Group's net financial expenses      
totaled EUR 10.0 million (EUR 6.8 million). Profit before taxes for the period  
was EUR 15.9 million (EUR 23.6 million).                                        

The balance sheet total was EUR 659.0 million (EUR 513.7 million), an increase  
of 28.3 %. The Group's equity ratio at the end of the period was 41.4 % (36.9   
%).                                                                             

The fair market value of the Group's investment properties at the end of the    
quarter was EUR 576.2 million (EUR 464.2 million). The change in the fair market
value of investment properties during the period had a negative impact of EUR   
-1.3 million (EUR 9.3 million in 1-9/2007). The net change in fair market value 
includes gains from an increase in market rents in some properties and an       
increase in the value of properties purchased or completed during the period.   
Losses in fair market value followed from an increase in market yield           
requirements. The adjustment of fair market calaculation parameters to better   
reflect actual market conditions also had some impact on property values,       
including inflation upgrades for 2008-2009 and a slight increase in long-term   
inflation expectations                                                          

Over the period October 1, 2008 - September 30, 2009, the current exceptionally 
high rate of inflation has been taken into account in the calculation of the    
fair value of maintenance costs and index-linked rental income. For the period  
October 1, 2008 - December 31, 2008, 4.7 % was used as the projected inflation  
rate and 2.5 % was used as the annual expected inflation rate for 2009; the     
latter is the median percentage using forecasts by nine publishers of economic  
reviews (reference 1).                                                          

The projected long-term inflation rate used in the calculation of fair value was
raised from 1.75% to 2.0 % for the period from October 2009 onwards.            

Site-specific net yield requirements are provided by two third-party property   
assessment companies. The average of their respective averages is employed in   
the Group's fair market value calculations with respect to yield                
requirements.The net yield requirement for properties rose 0.16 percent during  
the third quarter. The Group's average net yield requirement for its properties 
on September 30, 2008 was 7.47 % (7.22 % on September 30, 2007). In order to be 
conservative, an average occupancy ratio of 94.3 % was used to calculate fair   
market values Over a 10 year spectrum, although the Group's historical, actual  
and projected occupancies for the actual occupancy rate are higher than this.   

The Group's total rentable surface area was 429,036 floor square meters at the  
end of the period (366,045 square meters on September 30, 2007). The Group's    
average financial occupancy ratio at the end of the quarter was 96.4 % (96.6 %).
The financial occupancy ratio describes the rental revenue from the properties  
as a percentage of the combined total of the rent for the leased space and the  
estimated market rent for the vacant space. The Group's leases at the end of the
review period totaled EUR 117.7 million (EUR 119.8 million).                    

Group Structure                                                                 

The Technopolis Group includes the parent company, Technopolis Plc, which has   
operations in Espoo, Helsinki, Jyväskylä, Lappeenranta, Oulu, Tampere and       
Vantaa, and its subsidiaries Innopoli Oy in Espoo (wholly owned), Kiinteistö Oy 
Innopoli II in Espoo (wholly owned), Technopolis Kuopio Oy (wholly owned) and   
other subsidiaries. The Group has begun to merge Technopolis Kuopio Oy with the 
parent company.                                                                 

Technopolis has two Russian companies in St. Petersburg, Technopolis Neudorf LLC
and Technopolis St. Petersburg LLC, both wholly owned by Technopolis.           

The parent company has minority holdings in the affiliates Kiinteistö Oy Hermia 
(49.3 %), Technocenter Kempele Oy (48.5 %), Iin Micropolis Ltd (25.7 %),        
Jyväskylä Innovation Ltd (24 %), Kuopio Innovation Ltd (24 %), and Lappeenranta 
Innovation Ltd (20 %). Technopolis Plc has a 13 % holding in Oulu Innovation    
Ltd.                                                                            

The Group also includes Technopolis Ventures Oy in Espoo (wholly owned by       
Innopoli Oy). Technopolis Ventures Oy has the following subsidiaries:           
Technopolis Ventures Lappeenranta Oy (100 %), Technopolis Ventures Jyväskylä Oy 
(100 %), Technopolis Ventures Oulu Oy (70 %), Technopolis Ventures Professia Oy 
in Tampere (50.1 %) and Technopolis Ventures Kuopio Oy (100 %). Technopolis     
Ventures Oy also has a 25 % holding in Otaniemi Development Ltd.                


Principal Investments and Projects                                              

An agreement concerning the shares of Technopolis Kuopio Oy (previously Kuopion 
Teknologiakeskus Teknia Oy) was signed with the City of Kuopio on February 21,  
2008. The transaction price paid in cash was EUR 18.7 million, based on Kuopion 
Teknologiakeskus Teknia Oy's net debt position on February 21, 2008. After the  
transaction and the simultaneous acquisition of the shares held by the          
municipality of Siilinjärvi, Technopolis holds 100 % of Technopolis Kuopio's    
shares. Technopolis Kuopio Oy comprises three modern property companies, the    
total rentable space of which adds up to 47,860 square meters.                  

The Hermia 12 property was completed in Tampere in February. The building is    
approximately 5,000 m2 in size and has been fully let.                          

The first stage of the Lappeenranta Vapaudenaukio project was completed in May  
2008. Its total space of 3,150 m2 has been fully let.                           

The first phase of the Technopolis technology center currently being built in   
Ruoholahti, Helsinki was completed in August 2008. The first phase is 6,600     
floor m2. So far 94 % of the building has been let with binding agreements.     

The third phase of the Oulu Kontinkangas technology center was completed in     
August 2008 and the fourth phase was completed in September. The third phase is 
3,090 floor m2 and the fourth phase is 3,900 floor square meters. Both the third
and fourth phases have already been fully let.                                  

In June, Technopolis commenced construction of the fifth stage of its           
Kontinkangas technology center in Oulu. The size of the extension will be       
approximately 4,350 gross square meters and the investment will total           
approximately EUR 7.2 million. The completion date for the fifth phase is summer
2009. Approximately 50 % of the extension has been pre-let.                     

The fifth phase of the Technopolis Helsinki-Vantaa technology center is         
estimated to be completed in November 2008. The phase is about 6,700 gross      
square meters and the investment will amount to about EUR 15 million.           
Approximately 50% of the building has so far been leased out.                   

A decision was made in April to commence construction of the first phase of the 
Hermia 15 property in Tampere. The project's cost estimate is EUR 14.5 million  
and the gross area is 12,150 m2, which includes a parking garage for 300        
vehicles. Pre-lets have been signed for 70 % of the first phase premises. The   
first phase is expected to be completed in August 2009.                         

June also saw the start of the first phase of Technopolis's Yliopistonrinne     
technology center in Tampere's city center. The new center is located near the  
University of Tampere. The cost estimate is EUR 33.3 million and the gross area 
will be 19,200 m2, including an indoor parking facility for 130 vehicles. The   
first phase, 34 % of which has already been let, is scheduled for completion in 
February, 2010. The new technology center is located on approximately 3,950     
square meters of land acquired from the City of Tampere in January. The         
transaction price was EUR 480 per square meter of building rights area, and     
totaled approx. EUR 5.6 million.                                                

In June, Technopolis also started to implement the second stage of its          
Ohjelmakaari technology center, located in the Yliopistonmäki district of       
Jyväskylä.  The project is estimated to cost EUR 7.7 million, which includes a  
portion of the costs of a parking facility due to be built later on. The gross  
area of the building will be approx. 4,790 square meters. The building, 62 % of 
which has been pre-let, is scheduled for completion in June 2009.               

In June, Technopolis entered into a contract to build the first stage of the    
Pulkovo technology center in St. Petersburg. The new technology center is       
located in the immediate vicinity of the Pulkovo International Airport on land  
owned by Technopolis St. Petersburg LCC. A Russian company, STEP Construction,  
was chosen as the design-build contractor for the first stage. The contract     
includes not only the construction work required to implement the project, but  
also the management of permit regulations and general project design. The first 
phase is expected to cost approximately EUR 50 million and the gross area to be 
built will be approximately 24,100 square meters. The first phase of the        
technology center is scheduled for completion in spring 2010.                   

Technopolis Stock                                                               

On April 27, 2008, the Technopolis Board of Directors approved a rights issue   
amounting to approximately EUR 59.6 million.  The proceeds from the offering    
were to be used for financing investments in accordance with the company's      
investment plan, for ensuring the company's growth and for maintaining good     
solvency. The decision was based on the authorizations granted by the Annual    
General Meeting on March 27, 2008 and by an Extraordinary General Meeting held  
on November 29, 2007.                                                           

The subscription price was EUR 4.50 per share and the subscription period was   
from May 7 to May 20, 2008. Each shareholder of Technopolis was entitled to     
subscribe for three (3) new shares for every ten (10) shares held on the record 
date, May 2, 2008.                                                              

All of the offered 13,233,540 shares had been subscribed by the completion of   
the rights issue on May 20, 2008. 13,029,489 shares were subscribed for the     
primary offering, representing approximately 98.5 % of the shares on offer.     
7,855,625 shares were subscribed in the secondary offering, exceeding the number
of shares available by approximately 37 times. The gross proceeds raised by the 
company in the rights issue totaled approximately EUR 59.6 million.             

The 13,233,540 new shares subscribed were recorded in the Trade Register on May 
26, 2008. They were admitted for trading on the NASDAQ OMX Helsinki Ltd on May  
27, 2008. The new shares entitle owners to a full dividend and to all other     
rights attached to the shares as of their date of entry in the Trade Register.  

Adjustments to the terms and conditions of the company's stock option program   
for 2005 and 2007 necessitated by the rights issue also became effective on May 
26, 2008 upon entry of the new shares in the Trade Register.                    

In December 2007, a total of 4,300 Technopolis shares were subscribed with 2005A
options. An increase in share capital of EUR 7,267 was registered on February 6,
2008. The new shares entitled their holders to dividends for fiscal 2007 and to 
all other shareholder rights as of the registration date. The shares were       
admitted for trading as of February 7, 2008.                                    

Technopolis Plc's 2005B stock options were admitted for trading on the NASDAQ   
OMX Helsinki as of June 2, 2008. The total number of 2005B stock options is     
436,000. Each option entitles its holder to subscribe 1.043 Technopolis Plc     
shares. The subscription price for the 2005B stock options is EUR 6.188 per     
share. The subscription period began on June 1, 2008 and will end on April 30,  
2010. The terms and conditions of the stock option program were announced in    
their entirety in a Technopolis stock exchange release dated March 2, 2005. The 
amendments to the terms and conditions were announced in a stock exchange       
release dated April 28, 2008.                                                   

As a result of the increases, the company's share capital now stands at EUR     
96,913,626.29 and the number of shares outstanding at 57,345,341 shares.        

The Registration Document published in compliance with the Finnish Securities   
Markets Act, approved by the Finnish Financial Supervision Authority on April   
14, 2008, and containing information about the company and its business and     
financial position is available in Finnish during its period of validity through
the company's Internet pages, and printed copies of it can be obtained in       
Finnish or English from the company or from the OMX Way service point of NASDAQ 
OMX Helsinki Ltd at Fabianinkatu 14, FI-00100 Helsinki.                         

Disclosures of Changes in Holdings                                              

According to information received by the company, the proportion of Technopolis 
Plc's share capital and votes held by Gazit-Globe Ltd., Tel Aviv, Israel, rose  
above one twentieth (5 %) as a result of a share transaction carried out on     
February 12, 2008, and above one tenth (10 %) as a result of a share transaction
carried out on May 15, 2008, and above three twentieths (15 %) as a result of a 
share transaction carried out on July 3, 2008.                                  

According to information received by the company, the proportion of Technopolis 
Plc's share capital and votes held by ABN AMRO Asset Management Holding N.V.,   
rose above one twentieth (5 %) as a result of a share transaction carried out on
November 7, 2006.                                                               

Financing                                                                       

The Group's net financial expenses totaled EUR 10.0 million (EUR 6.8 million).  
The Group's balance sheet total was EUR 659.0 million (EUR 513.7 million), of   
which liabilities accounted for EUR 387.7 million (EUR 324.9 million). The      
Group's equity ratio was 41.4 % (36.9 %)at the end of the quarter. The Group's  
net gearing at the end of the quarter was 118.8 % (147.8 %). The Group's equity 
per share was EUR 4.73 (EUR 4.47).                                              

The Group's interest-bearing liabilities at the end of the period were EUR 333.9
million (EUR 280.1 million). The average interest rate of loans was 5.08 % on   
September 30, 2008 (4.68 %). At the end of the period, 72.7 % (73.3 %) of the   
Group's long-term loans were variable rate, and 27.3 % (26.7 %) were fixed-rate.
The average capital-weighted outstanding repayment period was 10.5 years (9.9   
years).                                                                         

During the 12 months following the period, EUR 19.1 million shall be payable on 
existing interest-bearing liabilities. At the end of the period, Technopolis had
available undrawn long-term binding lines of credit and loans totaling EUR 104.8
million and cash assets of EUR 10.5 million. Of the remaining long-term credit  
lines EUR 100.0 million from the European Investment Bank is for the company's  
future expansion projects in Finland.                                           

Technopolis manages its short-term liquidity with a EUR 90.0 million domestic   
commercial paper program which allows the company to issue commercial papers    
with  maturities of less than a year. The commercial papers in issue totaled EUR
4.0 million (EUR 35.2 million) at the end of the period. Technopolis also has a 
checking account limit with a credit facility up to EUR 15.0 million; the full  
amount is available and undrawn.                                                

The financing of construction activities in Russia is to be handled using       
financing acquired by parent company. This financing will be converted into     
long-term loans and equity taking into account the low Russian capitalization   
requirements.                                                                   

Organization and Personnel                                                      

After the review period, in the meeting held on October 21, 2008, the           
Technopolis Board of Directors decided to change the organizational structure   
and reduce the number of Management Team members. From now on the Group's       
operational organization will comprise three business units: Finland, Russia and
New markets. Furthermore, the Group's organization will have matrix support     
functions for the Group's real estate development, business services, business  
development and support activities.                                             

The Group Management Team comprises the CEO Keith Silverang, the Chief          
Development Officer Jukka Akselin, Finnish Country Manager Reijo Tauriainen, the
Director of Tampere operations Satu Eskelinen and the CFO Jarkko Ojala.         

On September 23, 2008, the Board of Directors of Technopolis decided to transfer
its consultation services and regional development program operations to        
Technopolis Ventures Oy and Oulu Innovation Ltd. This transfer will enable the  
company to focus on its core businesses. The sale of consulting services abroad 
will end as the company expands internationally in order to prevent technology  
center know-how from leaking into potential growth markets. Instead of regional 
development programs, national and international 'Open Innovation' services with
the aim of helping Technopolis's client companies will be added to the          
Technopolis business development service mix.                                   

The CEO of Technopolis, Keith Silverang, MBA, 47, took over on September 15,    
2008. Silverang is a citizen of both the United States and Finland. He took his 
undergraduate degree at Boston University and did his MBA at the Helsinki School
of Economics. Keith Silverang joined Technopolis in 2004. He earlier held       
internationalization-related and executive positions with AAC Global Oy, Oy     
Hackman AB and his own company, Oy ICS Ltd.                                     

On September 15, 2008, Pertti Huuskonen, who has led the company since 1985,    
became the full-time Chairman of the Technopolis Board, in keeping with the     
shareholders' decision at the Annual General Meeting.  As Chairman of the Board,
Pertti Huuskonen will focus on international growth and finding new investment  
targets.                                                                        

The Group employed an average of 167 (142) people during the period. 60 (50)    
persons were employed in jobs related to premises activities, 38 (32) persons in
business services and 69 (60) persons in development services.                  

Annual General Meeting                                                          

The Annual General Meeting of March 27, 2008 approved the consolidated and      
parent company financial statements for fiscal 2007, released the company's     
management from further liability and approved the Board of Director's proposal 
to distribute a dividend of EUR 0.15 per share for the year ending December 31, 
2007.                                                                           

The Annual General Meeting decided to amend the paragraph of the Articles of    
Association concerning the term of the Board of Directors to state that the term
of Board members shall expire no later than at the end of the Annual General    
Meeting held in the second financial year after their election.                 

It was decided to elect six members to the company's Board of Directors. Jussi  
Kuutsa, Matti Pennanen, Timo Ritakallio, Erkki Veikkolainen and Juha Yli-Rajala 
were elected for a term that begins at the close of the General Meeting deciding
on their election and expires at the close of the subsequent Annual General     
Meeting. The company's current President and CEO Pertti Huuskonen was elected as
the full-time Chairman of the Board for a term that will begin when the         
company's next CEO has been entered in the Trade Register and will expire at the
close of the Annual General Meeting held in the second fiscal year following his
election. Timo Parmasuo was elected as the Chairman of the Board for a term that
begins at the close of the General Meeting deciding on his election and expires 
at the beginning of Pertti Huuskonen's term. Matti Pennanen was elected as the  
Vice Chairman of the Board.                                                     

The firm of KPMG Oy Ab, Authorized Public Accountants, was chosen as the        
company's auditor with Tapio Raappana, APA as the auditor in charge.            

The Annual General Meeting decided to authorize the company's Board of Directors
to decide on acquiring the company's own shares. The maximum number of the      
company's own shares that can be acquired shall be 4,000,000, equivalent to     
approximately 9.07 % of the company's total shares. Pursuant to the             
authorization, the company's own shares may be acquired only with unrestricted  
equity at a price arrived at in public trading on the date of acquisition or at 
a price otherwise established on the market. The Board of Directors shall decide
on how the shares are to be acquired. Derivatives may be used in the            
acquisition. Shares may be acquired in deviation from the proportional holdings 
of shareholders (directed acquisition). The authorization revokes the           
authorization given by the Annual General Meeting of March 29, 2007, and shall  
be valid until May 31, 2009, at the latest.                                     

Furthermore, the Annual General Meeting decided to authorize the Board to decide
on a share issue and on the issuing of stock options and other special rights   
giving entitlement to shares, as specified in Chapter 10, Section 1 of the      
Companies Act, on the condition that the maximum number of shares to be issued  
pursuant to the authorization shall be 8,000,000 shares, equivalent to          
approximately 18.14 % of the company's total shares. The Board of Directors was 
authorized to decide on all terms and conditions of the share issue and the     
issuing of special rights giving entitlement to shares. The authorization shall 
concern both the issuing of new shares and the conveyance of the company's own  
shares. The shares and special rights giving entitlement to shares may be issued
to certain parties. The authorization does not revoke the authorization given to
the Board by the General Meeting of November 29, 2007 to decide on the issuing  
of shares as well as on the issuing of stock options and other special rights   
giving entitlement to shares. The authorization shall be valid until May 31,    
2009, at the latest.                                                            

Evaluation of Operational Risks and Uncertainty Factors                         

The most significant risks related to Technopolis's business operations are     
mainly financial risks and customer risks.                                      

Technopolis's main financial risk is the interest rate risk related to its loan 
portfolio. The interest rate risk policy was updated in September 2008. The     
objective of interest rate risk management is to reduce the negative impact of  
market rate fluctuations on the Group's financial performance, financial        
position and cash flow. If necessary, the company will employ forwards, interest
rate swaps and interest rate options in order to hedge interest rate risk. The  
company's financing policy also aims to diversify the interest rate risk of loan
contracts over various loan periods on the basis of the market situation        
prevailing at any particular time and the interest rate forecast created in the 
company.                                                                        

The purpose of managing refinancing risk is to ensure that the Group's loan     
portfolio is sufficiently diversified in terms of repayment schedules and       
financing instruments.                                                          

In order to manage financial risk, Technopolis uses a wide range of financing   
companies,utilizes wide variety of financial instruments and maintains a high   
equity ratio.                                                                   

Prolonged instability in the financial market may make it more difficult to     
receive growth financing and refinancing in the future.                         

Given the structure of the Technopolis long-term loan portfolio at the end of   
the review period, a one percentage point increase in money market rates would  
increase interest rate costs by EUR 1.5 million per annum.                      

Due to the interest rate risk related to loans, a policy of diversification has 
been followed. On September 30, 2008, 72.7 % of long-term loans were linked to  
the 3-12 month Euribor rate. Of the long-term loans, 27.3 % were fixed-interest 
loans of 13-60 months. The long-term loans' average capital-weighted outstanding
repayment period was 10.5 years. Technopolis supplements its total financing    
with a EUR 90.0 million domestic commercial paper program which allows the      
company to issue commercial papers with maturities of less than a year. The     
commercial papers outstanding totaled EUR 4.0 million on September 30, 2008.    

Changes in the exchange rates between the Russian ruble and the euro may have an
effect on the company's financial performance and operations. Business          
transactions denominated in rubles are recorded at the exchange rate of the     
transaction date. Any translation differences are entered in the income         
statement under other operating expenses or financial income and expenses       
depending on the nature of the transaction. The purchase of land in St.         
Petersburg was financed in local currency. Currency risks have been minimized by
applying a currency swap.                                                       

Customer risk management aims to minimize the negative impact that any changes  
in customers' financial situation may have on the company's business or profit. 
In customer risk management, the emphasis is on familiarity with the customer's 
business and active monitoring of customer information. As part of customer risk
management, Technopolis's leases include rental deposits. Properties are insured
with full value insurance.                                                      

The Group's property portfolio is divided geographically between the Helsinki   
metropolitan area, Jyväskylä, Kuopio, Lappeenranta, Tampere and the Oulu region.
No single customer accounts for more than 9.3 % of the Group's net sales. The   
Group has a total of about 1,200 customers, which operate in several different  
sectors.                                                                        

The company's leases can be divided into two categories: fixed-term leases and  
open ended leases. The company aims to apply both types of leases depending on  
the market situation, property and the nature of the tenant's business.         

In new building projects, Technopolis focuses on quality determination and the  
manageability of the property's entire lifecycle. In the design phase, all the  
building's maintenance and service requirements are taken into account, with the
aim of implementing environmentally friendly solutions in terms of energy       
consumption, the adaptability of office facilities, and recycling possibilities.
In connection with property purchases, Technopolis carries out normal property  
and environmental assessments before committing to the transaction.             

Changes in market yield requirements may have a substantial impact on the       
company's earnings performance. When yield requirements increase, the fair      
market value of properties decreases, and when yield requirements decrease, the 
fair value of properties increases. The changes can thus have either an         
increasing or decreasing effect on the Group's operating profit.                

Future Prospects                                                                

Technopolis management expects that demand for the company's high tech operating
environments will remain satisfactory in 2008 and that the occupancy ratio of   
its facilities and demand for services will remain good in spite of the         
deteriorating international economic conditions. The management does believe,   
however, that should the financial crisis become prolonged or expand, it may    
pose a challenge to the Group's growth prospects. The management has taken steps
to secure the company's profitability even under challenging economic           
conditions. The Group's management expects that in 2008, net sales and earnings,
excluding non-recurring gains, will grow by 22-26 %. The forecast has been      
raised since the previous review period.                                        

As part of its strategy for growth, Technopolis aims to operate in top high     
technology hot spots in Finland, as well as in Russia and 2-3 other countries by
2012. The Group's target is to increase its net sales by an average of 15 %     
annually. It will grow organically as well as through acquisitions.             

The Group's financial performance is dependent on trends in the general business
environment, its customer businesses, the financial markets and on yield        
requirements. Changes occurring in these areas may affect the Group's financial 
performance through changes in occupancy ratios, the use of services, financing 
costs, the fair market values of properties and office rent levels.             

Helsinki, October 21, 2008                                                      

TECHNOPOLIS PLC                                                                 
Board of Directors                                                              


Keith Silverang                                                                 
CEO                                                                             

For more information:                                                           
Keith Silverang, tel. +358 40 566 7785                                          

A PDF version of this interim report is available at www.technopolis.fi.        
Requests for a printed version can be made to tel. +358 8 511 3228/Technopolis  
info.                                                                           

Technopolis Plc has a news release service, which you can subscribe to on the   
Internet. Service subscribers will receive the Group's releases by email.       

Investment property is valued in accordance with the fair value model. The      
direct internal and external costs of construction are included in the          
acquisition cost of investment properties during the period of construction, as 
provided for in IAS 16. Interest expenses on loans for the construction period  
are allocated to the acquisition cost of properties under construction, as      
provided for in IAS 23.                                                         

The accounting policies and the key figures' calculation formulae applied to    
this Interim Report are the same as those applied to the 2007 financial         
statements. This Interim Report complies with the recognition and measurement   
principles of the IFRS, although not all of the requirements of IAS 34 have been
complied with.                                                                  

The figures are unaudited.                                                      


The Technopolis Group:                                                          
--------------------------------------------------------------------------------
| INCOME STATEMENT         |    7-9/ |    7-9/ |    1-9/ |     1-9/ |    1-12/ |
--------------------------------------------------------------------------------
| Eur Million              |    2008 |    2007 |    2008 |     2007 |     2007 |
--------------------------------------------------------------------------------
| Net sales                |   18.16 |   13.32 |   53.04 |    41.15 |    56.90 |
--------------------------------------------------------------------------------
| Other operating income   |    1.23 |    1.30 |    4.37 |     3.91 |     5.24 |
| 2)                       |         |         |         |          |          |
--------------------------------------------------------------------------------
| Other operating expenses |   -9.25 |   -6.71 |  -29.36 |   -23.51 |   -33.50 |
--------------------------------------------------------------------------------
| Change in fair value of  |    0.41 |    3.92 |   -1.32 |     9.34 |    14.55 |
| investment properties    |         |         |         |          |          |
--------------------------------------------------------------------------------
| Depreciation according   |   -0.14 |   -0.16 |   -0.82 |    -0.49 |    -0.62 |
| to plan 3)               |         |         |         |          |          |
--------------------------------------------------------------------------------
| Operating profit         |   10.40 |   11.66 |   25.92 |    30.40 |    42.56 |
--------------------------------------------------------------------------------
| Financial income and     |   -3.21 |   -2.49 |  -10.01 |    -6.77 |    -9.67 |
| expenses, total          |         |         |         |          |          |
--------------------------------------------------------------------------------
| Profit before taxes      |    7.19 |    9.17 |   15.91 |    23.63 |    32.89 |
--------------------------------------------------------------------------------
| Income taxes             |   -2.02 |   -2.52 |   -4.30 |    -6.33 |    -8.81 |
--------------------------------------------------------------------------------
| Net profit for the       |    5.17 |    6.65 |   11.60 |    17.30 |    24.08 |
| period                   |         |         |         |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Distribution of profit   |         |         |         |          |          |
| for the period:          |         |         |         |          |          |
--------------------------------------------------------------------------------
| To parent company        |    5.17 |    6.64 |   11.76 |    17.27 |    24.04 |
| shareholders             |         |         |         |          |          |
--------------------------------------------------------------------------------
| To minority shareholders |    0.00 |    0.01 |   -0.15 |     0.04 |     0.04 |
--------------------------------------------------------------------------------
|                          |    5.17 |    6.65 |   11.60 |    17.30 |    24.08 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| BALANCE SHEET, ASSETS               |            |             |             |
--------------------------------------------------------------------------------
| EUR million                         |  30.9.2008 |   30.9.2007 |  31.12.2007 |
--------------------------------------------------------------------------------
| Non-current assets                  |            |             |             |
--------------------------------------------------------------------------------
| Intangible assets                   |       2.02 |        2.50 |        2.49 |
--------------------------------------------------------------------------------
| Tangible assets                     |      31.62 |       14.77 |       26.90 |
--------------------------------------------------------------------------------
| Investment properties               |     576.24 |      464.19 |      468.76 |
--------------------------------------------------------------------------------
| Investments                         |      26.02 |       22.41 |       22.22 |
--------------------------------------------------------------------------------
| Deferred tax assets                 |       2.66 |        1.83 |        2.41 |
--------------------------------------------------------------------------------
| Non-current assets                  |     638.57 |      505.70 |      522.78 |
--------------------------------------------------------------------------------
| Current assets                      |      20.47 |        7.99 |        9.50 |
--------------------------------------------------------------------------------
| Held-for-sale non-current assets    |       0.00 |        0.00 |        1.87 |
--------------------------------------------------------------------------------
| Total assets                        |     659.04 |      513.69 |      534.16 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| BALANCE SHEET, SHAREHOLDERS' EQUITY |            |             |             |
| AND LIABILITIES                     |            |             |             |
--------------------------------------------------------------------------------
| EUR million                         |  30.9.2008 |   30.9.2007 |  31.12.2007 |
--------------------------------------------------------------------------------
| Equity                              |            |             |             |
--------------------------------------------------------------------------------
| Share capital                       |      96.91 |       71.36 |       74.54 |
--------------------------------------------------------------------------------
| Premium fund                        |      18.55 |       18.49 |       18.55 |
--------------------------------------------------------------------------------
| Other funds                         |      63.82 |       19.44 |       27.38 |
--------------------------------------------------------------------------------
| Other shareholders' equity          |       0.43 |        0.39 |        0.55 |
--------------------------------------------------------------------------------
| Retained earnings                   |      79.61 |       61.70 |       61.70 |
--------------------------------------------------------------------------------
| Net profit for the period           |      11.76 |       17.27 |       24.04 |
--------------------------------------------------------------------------------
| Attributable to shareholders of     |     271.08 |      188.66 |      206.77 |
| parent company                      |            |             |             |
--------------------------------------------------------------------------------
| Minority interests                  |       0.24 |        0.16 |        0.40 |
--------------------------------------------------------------------------------
| Total equity                        |     271.33 |      188.82 |      207.17 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities                         |            |             |             |
--------------------------------------------------------------------------------
| Long-term liabilities               |            |             |             |
--------------------------------------------------------------------------------
| Interest-bearing liabilities        |     312.80 |      233.59 |      227.95 |
--------------------------------------------------------------------------------
| Non-interest-bearing liabilities    |       1.41 |        1.44 |        1.42 |
--------------------------------------------------------------------------------
| Deferred tax liabilities            |      37.92 |       32.87 |       35.08 |
--------------------------------------------------------------------------------
| Long-term liabilities, total        |     352.13 |      267.90 |      264.45 |
--------------------------------------------------------------------------------
| Short-term liabilities              |            |             |             |
--------------------------------------------------------------------------------
| Interest-bearing liabilities        |      21.11 |       46.53 |       49.90 |
--------------------------------------------------------------------------------
| Non-interest-bearing liabilities    |      14.47 |       10.44 |       12.64 |
--------------------------------------------------------------------------------
| Total short-term liabilities        |      35.59 |       56.97 |       62.54 |
--------------------------------------------------------------------------------
| Total liabilities                   |     387.71 |      324.86 |      326.99 |
--------------------------------------------------------------------------------
| Total shareholders' equity and      |     659.04 |      513.69 |      534.16 |
| liabilities                         |            |             |             |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONSOLIDATED CASH FLOW STATEMENT    |            |             |             |
--------------------------------------------------------------------------------
| Eur million                         |   1-9/2008 |    1-9/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
| Cash flow from operating activities |            |             |             |
--------------------------------------------------------------------------------
| Operating profit                    |      25.92 |       30.40 |       42.56 |
--------------------------------------------------------------------------------
| Change in fair value of investment  |       1.32 |       -9.34 |      -14.55 |
| properties                          |            |             |             |
--------------------------------------------------------------------------------
| Depreciation                        |       0.82 |        0.49 |        0.62 |
--------------------------------------------------------------------------------
| Other non-cash adjustments          |       0.00 |        0.38 |        0.52 |
--------------------------------------------------------------------------------
| Change in working capital           |       1.04 |        0.91 |        0.33 |
--------------------------------------------------------------------------------
| Interest received                   |       1.35 |        0.63 |        0.82 |
--------------------------------------------------------------------------------
| Interests and fees paid             |     -13.22 |       -7.77 |      -11.15 |
--------------------------------------------------------------------------------
| Income from other investments in    |       0.01 |        0.01 |        0.02 |
| non-current assets                  |            |             |             |
--------------------------------------------------------------------------------
| Taxes paid                          |      -1.67 |       -2.13 |       -2.91 |
--------------------------------------------------------------------------------
| Net cash provided by operating      |      15.57 |       13.58 |       16.25 |
| activities                          |            |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow from investing activities |            |             |             |
--------------------------------------------------------------------------------
| Other investments                   |      -0.11 |       -1.56 |       -1.65 |
--------------------------------------------------------------------------------
| Investments in investment           |     -48.17 |      -16.68 |      -27.56 |
| properties                          |            |             |             |
--------------------------------------------------------------------------------
| Investments in tangible and         |      -0.16 |       -0.28 |       -0.38 |
| intangible assets                   |            |             |             |
--------------------------------------------------------------------------------
| Repayments of loan receivables      |       0.01 |        0.01 |        0.02 |
--------------------------------------------------------------------------------
| Sales proceeds from other           |       2.30 |        0.04 |        0.34 |
| investments                         |            |             |             |
--------------------------------------------------------------------------------
| Acquisition of subsidiaries         |     -19.73 |      -47.66 |      -48.93 |
--------------------------------------------------------------------------------
| Net cash used in investing          |     -65.86 |      -66.13 |      -78.15 |
| activities                          |            |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash from financing activities      |            |             |             |
--------------------------------------------------------------------------------
| Increase in long-term loans         |      50.21 |       67.89 |       67.89 |
--------------------------------------------------------------------------------
| Decrease in long-term loans         |     -10.89 |      -17.34 |      -20.09 |
--------------------------------------------------------------------------------
| Dividends paid                      |      -6.66 |       -5.68 |       -5.68 |
--------------------------------------------------------------------------------
| Paid share issue                    |      58.54 |        5.51 |       16.79 |
--------------------------------------------------------------------------------
| Repayments of finance lease         |       0.69 |        0.59 |        0.81 |
| receivables                         |            |             |             |
--------------------------------------------------------------------------------
| Change in short-term loans          |     -31.18 |       -0.19 |        0.46 |
--------------------------------------------------------------------------------
| Net cash provided by financing      |      60.72 |       50.77 |       60.18 |
| activities                          |            |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net change in cash and cash         |      10.43 |       -1.77 |       -1.73 |
| equivalents                         |            |             |             |
--------------------------------------------------------------------------------
| Cash and cash equivalents at        |       1.08 |        2.80 |        2.80 |
| beginning of period                 |            |             |             |
--------------------------------------------------------------------------------
| Cash and cash equivalents at end of |      11.51 |        1.03 |        1.08 |
| period                              |            |             |             |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| STATEMENT OF CHANGES IN  |         |        |          |           |         |
| SHAREHOLDERS' EQUITY     |         |        |          |           |         |
--------------------------------------------------------------------------------
| EUR million    |   Share | Premium |  Other | Retained |  Minority |  Equity |
|                | capital |    fund |  funds | earnings | interests |         |
--------------------------------------------------------------------------------
| SHAREHOLDERS'  |   67.32 |   18.55 |   7.37 |    67.46 |      4.58 |  165.28 |
| EQUITY Dec 31, |         |         |        |          |           |         |
| 2006           |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share capital  |    0.21 |         |        |          |           |    0.21 |
| increase       |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share offering |    3.84 |         |  12.05 |          |           |   15.89 |
--------------------------------------------------------------------------------
| Dividend       |         |         |        |    -5.68 |           |   -5.68 |
| distribution   |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Net profit for |         |         |        |    17.27 |      0.03 |   17.30 |
| the period     |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Other changes  |         |   -0.06 |   0.02 |     0.31 |     -4.44 |   -4.17 |
--------------------------------------------------------------------------------
| SHAREHOLDERS'  |   71.36 |   18.49 |  19.44 |    79.36 |      0.16 |  188.82 |
| EQUITY Sep 30, |         |         |        |          |           |         |
| 2008           |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share capital  |         |         |        |          |           |         |
| increase       |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share offering |    3.17 |         |   8.03 |          |           |   11.20 |
--------------------------------------------------------------------------------
| Dividend       |         |         |        |          |           |         |
| distribution   |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Net profit for |         |         |        |     6.77 |      0.01 |    6.78 |
| the period     |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Other changes  |         |    0.06 |  -0.09 |     0.16 |      0.22 |    0.35 |
--------------------------------------------------------------------------------
| SHAREHOLDERS'  |   74.54 |   18.55 |  27.38 |    86.29 |      0.40 |  207.17 |
| EQUITY Dec 31, |         |         |        |          |           |         |
| 2007           |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share capital  |         |         |        |          |           |         |
| increase       |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Share offering |   22.36 |         |  37.19 |          |           |   59.55 |
--------------------------------------------------------------------------------
| Dividend       |         |         |        |    -6.62 |           |   -6.62 |
| distribution   |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Net profit for |         |         |        |    11.76 |     -0.15 |   11.61 |
| the period     |         |         |        |          |           |         |
--------------------------------------------------------------------------------
| Other changes  |    0.01 |         |  -0.75 |     0.36 |           |   -0.38 |
--------------------------------------------------------------------------------
| SHAREHOLDERS'  |   96.91 |   18.55 |  63.82 |    91.80 |      0.24 |  271.33 |
| EQUITY Sep 30, |         |         |        |          |           |         |
| 2008           |         |         |        |          |           |         |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| KEY INDICATORS                      |            |             |             |
--------------------------------------------------------------------------------
|                                     |   1-9/2008 |    1-9/2007 |   1-12/2007 |
--------------------------------------------------------------------------------
| Change in net sales, %              |       28.9 |        34.6 |        26.9 |
--------------------------------------------------------------------------------
| Operating profit / net sales, %     |       48.9 |        73.9 |        74.8 |
--------------------------------------------------------------------------------
| Equity to assets ratio, %           |       41.4 |        36.9 |        39.0 |
--------------------------------------------------------------------------------
| Average no. of employees in Group   |        167 |         142 |         142 |
| companies during period             |            |             |             |
--------------------------------------------------------------------------------
| Gross expenditure on non-current    |    118 376 |      74 299 |      88 962 |
| assets, EUR 1,000                   |            |             |             |
--------------------------------------------------------------------------------
| Net rental income of property       |        7.7 |         7.8 |         7.5 |
| portfolio, % 4)                     |            |             |             |
--------------------------------------------------------------------------------
| Financial occupancy ratio, %        |       96.4 |        96.6 |        96.8 |
--------------------------------------------------------------------------------
| Earnings / share                    |            |             |             |
--------------------------------------------------------------------------------
| undiluted, EUR                      |       0.23 |        0.42 |        0.58 |
--------------------------------------------------------------------------------
| diluted, EUR                        |       0.23 |        0.42 |        0.58 |
--------------------------------------------------------------------------------
| Equity / share, EUR                 |       4.73 |        4.47 |        4.69 |
--------------------------------------------------------------------------------
| Average issue-adjusted no. of       |            |             |             |
| shares                              |            |             |             |
--------------------------------------------------------------------------------
| undiluted                           | 50,245,014 |  40,800,453 |  41,407,380 |
--------------------------------------------------------------------------------
| diluted                             | 50,111,727 |  40,840,228 |  41,469,091 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONTINGENT LIABILITIES              |            |             |             |
--------------------------------------------------------------------------------
| Eur million                         |  30.9.2008 |   30.9.2007 |  31.12.2007 |
--------------------------------------------------------------------------------
| Pledges and guarantees on own debt  |            |             |             |
--------------------------------------------------------------------------------
| Mortgages                           |     264.00 |      202.20 |      203.70 |
--------------------------------------------------------------------------------
| Book value of pledged securities    |     165.52 |       97.65 |       97.77 |
--------------------------------------------------------------------------------
| Bank guarantees                     |      46.74 |             |             |
--------------------------------------------------------------------------------
| Other liabilities                   |       0.10 |        0.10 |        0.10 |
--------------------------------------------------------------------------------
| Collateral given on behalf of       |       0.50 |        0.50 |        0.50 |
| associates                          |            |             |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Leasing liabilities, machinery and  |       1.05 |        0.48 |        0.48 |
| equipment                           |            |             |             |
--------------------------------------------------------------------------------
| Project liabilities                 |       0.02 |        0.32 |        6.14 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest rate and currency swaps    |            |             |             |
--------------------------------------------------------------------------------
| Nominal values                      |     132.00 |        7.28 |       17.28 |
--------------------------------------------------------------------------------
| Fair values                         |       0.22 |        0.15 |        0.28 |
--------------------------------------------------------------------------------

1) source: The Research Institute of Finnish Economy. ETLA. Sep 3, 2008.        
Suhdannenäkymät syyskuussa (i.e. Economic trend report on September 2008).      
www.etla.fi                                                                     

2) Other operating income comprises operating subsidies received for development
services, for which the same amount of development service expenses have been   
recorded as operating expenses. Other operating income for the review period    
1-9/2008 includes EUR 0.9 million in non-recurring items.                       

3) Depreciation for the review period 1-9/2008 includes EUR 0.4 million in      
non-recurring depreciation.                                                     

4) Does not include properties commissioned or acquired during the year.        

Distribution:                                                                   
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