Poland's Ministry of Finance allows Olympic Entertainment Group to acquire shares of Casino Polonia

Today, on April 16, Olympic Entertainment Group (OEG) received the permission
of Poland's Ministry of Finance for the acquisition of 80 percent of shares of
Casino Polonia. According to the preliminary share sale agreement, the amount
of the deal is EUR 9 million (EEK 140.8 million). In two years, OEG plans to
invest EUR 30 million (EEK 469.4 million) on the Polish market. 

The permit issued to OEG allows the company to complete the transaction for the
acquisition of shares of Casino Polonia according to the preliminary share sale
agreement which was signed in September 2005. OEG and Casino Polonia will sign
the final agreement at the terms provided in the preliminary share sale
agreement during the next few weeks. 

As a result of the acquisition of shares, OEG will own 80 percent of Casino
Polonia that has seven casinos in four Polish towns - Warsaw, Wroclaw,
Szczecinis and Gorzow Wielkopolsk. After closing the deal, all casinos will be
rebranded under the Olympic Casino trademark. 

At the end of April, OEG plans to open an entirely new casino in Warsaw in the
newly completed Hilton Hotel. According to Andri Avila, member of the
Management Board of OEG, the new casino - Olympic Casino Sunrise - will be the
largest casino in Poland. OEG invested EUR 7 million (EEK 109.5 million) in the
project. The entertainment complex that is located on three stories will have
1,600 square meters of floor space, 20 gaming tables and 100 slot machines. 

Today OEG operates casinos in Estonia, Latvia, Lithuania, Belarus, Ukraine and
Romania. The vision of OEG is to become the largest provider of casino
entertainment in Central Europe in 2010 and to operate at least ten countries. 



Additional information:

Andri Avila
Member of the Management Board
Olympic Entertainment Group 
Tel + 372 667 1250
E-mail: andri.avila@ocg.ee
www.olympic-casino.com