Port of Tallinn to borrow EEK 625.9 million from the European Investment Bank


On February 12th 2009 Port of Tallinn signed a loan agreement with the European 
Investment Bank in the amount of EUR 40 million (EEK 625.9 million) and with a  
maximum maturity of 20 years.                                                   

The loan can be drawn in four tranches with either fixed or floating interest   
rate, which will be fixed separately for each tranche. The additional interest  
margin fixed in the loan agreement is 0.41% per annum. Port of Tallinn is       
planning to draw the loan within current year.                                  

The funds are dedicated to be used for the financing of current major           
investments, i.e. the extension of Muuga harbour container terminal and building
the quays no 8 and 9 in Paldiski South Harbour.                                 

According to the chairman of the Supervisory Board of Port of Tallinn Mr Neinar 
Seli the signing of the loan agreement with the European Investment Bank in such
terms and in today's conditions of global economic recession is a significant   
sign of continuing credibility of international institutions towards Port of    
Tallinn's business strategy and for using the potential of Estonian geographic  
position.                                                                       

“Despite of the decrease in cargo volumes Port of Tallinn has not considered    
suspending these major investments. Taking into account the long period         
preceding the implementation of such extensive infrastructure development       
investments, it is crucial to target their completion to the beginning of the   
next economic growth cycle,” noted Mr Seli.                                     

Additional information:                                                         

Marko Raid					                                               
Chief Financial Officer			                             
Phone nr: +372 6 318 047			                           
m.raid@ts.ee				                                          
						
Sven Ratassepp
Public Relations Manager
Phone nr: +372 6 318 064
Mobile: +372 50 64 911
s.ratassepp@ts.ee