First Property Poland has signed an agreement for the pilot phase of the NOVO PM module.

First Property Poland is part of First Property Group plc, a company that invests its own funds and those of third parties in commercial real estate and manages properties in the United Kingdom and Central and Eastern Europe.

The FPG fund opened an office in Warsaw in June 2005, when it was forced to seek high returns abroad because the difference between commercial property yields in the UK and the cost of debt financing fell dramatically at the end of 2004. The Polish office currently employs around 40 people who provide a full range of property management services.

FPG currently manages 18 commercial properties in Poland:

• 8 office buildings in Warsaw, Krakow, Lublin, Poznań and Gdynia
• 3 shopping centers in Ostrowiec Świętokrzyski, Krasnystaw and Świnoujście
• 7 large-format stores in Warsaw and Łódź.