Alteration of subsidiaries financial year


AS Luterma subsidiary AS Kalev Jõhvi Tootmine shareholders extraordinary
general meeting decided to change its start and end date of financial year.
Same decision was made by OÜ Maiasmokk shareholders. Now the start date of
financial year for these companies is 1st of January and financial year ends
31st December. 

Reason for changing start and end date of financial year is to harmonise all AS
Luterma group companies financial year start and end dates. AS Luterma general
meeting of shareholders decided to enforce calendar year that is coincident
with financial year in December 2008. 

Allan Viirma
Head of Legal Services
688 6600