Tallinn Stock Exchange NEWS RELEASE 03/04.01.2007 AMENDMENTS IN TALLINN STOCK EXCHANGE RULES AND REGULATIONS Amendments in sections "Membership Rules" and "Requirements for issuers" of the Tallinn Stock Exchange (TSE) Regulation entered into force on January 3, 2007. In the section “Requirements for Issuers” in the Rules and Regulations, the time for closing the list of the holders of securities was changed. Starting from this year, the list of securities’ holders will be closed on the date determined by the Issuer (record date), as of the end of the day, i.e. at 23.59 p.m. (instead of the earlier 8.00 a.m.). The amendment is due to the harmonization of rules in the European Union. If the closing time of the list of securities’ holders was set before the amendments entered into force, there is no requirement to change it, but in such a case the time not complying with the rule should be separately indicated. With amendments to the part “Membership Rules”, the minimum amount of share capital required for applying for Stock Exchange membership was lowered from the earlier 730 000 euros to 125 000 euros. The amendments harmonize the capital requirements established for Stock Exchange members on all Baltic Stock Exchanges. In addition, the Financial Supervision Authority has coordinated amendments to the sections “Rules For Clearing and Settlement of Stock Exchange Transactions” and “Rates of Fines” in the Rules and Regulations, which concern mostly the formation and use of a guarantee fund, harmonizing as much as possible the principles of forming and using the guarantee funds of different Baltic Stock Exchanges. The entry into force of amendments regarding guarantee funds depends on the entry into force of the relevant changes on the Vilnius Stock Exchange (presumably not before 1 February 2007). The Stock Exchange will inform members of the entry into force of the amendments as soon as possible. Changes in the rules of Tallinn Stock Exchange will be made available at: http://www.omxgroup.ee/?id=2726 - present redactions http://www.omxgroup.ee/?id=2727 - earlier redactions Tallinn Stock Exchange Market services +372 640 8800