Additional bond issue


Bonds with a term of one year and a redemption term of 316 days
will be issued by AS Kalev by way of a placement on
February 28 2008. The volume of the issue is 39,78 kroons. Current bond issue
is an increase of the amount of bond issue 28.02.2007 (for additional
information: AS Kalev 28.02.2007 Company Announcement „Bond issue”). 

The bonds will have a nominal value of 10,000 kroons and an
annual interest rate of10%. The bonds can be redeemed by the
issuer or sold by the investor at nominal value after each three months.

The bonds will be secured by the shares of the issuer's subsidiary AS Kalev
Real Estate Company. 

The issue will be conducted by SEB Eesti Ühispank.

Allan Viirma
Director of legal service
607 7831