ANNUAL GENERAL MEETING OF SHAREHOLDERS

| Source: Starman Starman 

Due to technical reasons it is not possible to conduct the annual general
meeting of AS Starman (business registry code 10069659, located at Akadeemia
tee 28 , Tallinn 12618) on May 18th, the day set by the management board. 

The Board of AS Starman hereby informs that the annual shareholders meeting of
AS Starman will be held on June 15th 2007 at 10:00 AM on the 2nd floor of
Tallink City Hotel located in Tallinn, A. Laikmaa 5. 

According to the Supervisory Board of Starman decision of April 10th 2007 the
agenda of the meeting is following: 

1) Approval of the 2006 Consolidated Annual Report of AS Starman.
2) Approval of the proposal for the distribution of profit.
3) Appointment of the auditor
4) Amendment of the Articles of Association. 

The Supervisory Board of Starman proposes the following decisions in regard of
the agenda: 
1) Approval of the 2006 Consolidated Annual Report of AS Starman.

Proposal of the Supervisory Board: Shareholders are proposed to approve the
2006 Consolidated Annual Report of AS Starman as prepared by the Management
Board. 

2) Approval of the proposal for the distribution of profit.

Proposal of the Supervisory Board: Shareholders are proposed to distribute the
net profit of the year 2006 according to the following: 

Retained earnings from previous years 21 726 thousand EEK
Net profit for 2006 43 958 thousand EEK
Cumulative retained earnings as of 31.12.2006 65 684 thousand EEK
Transfer to mandatory reserve 2 198 thousand EEK
Net dividends to be paid* 9 137 thousand EEK
Retained earnings after dividend payment 54 349 thousand EEK

* Net dividends payable form appr. 20% of the 2006 net profit and are equal to
0.79 EEK (appr. 0.045 EUR) per share. The list of shareholders entitled to
receive dividends will be fixed at 23:59 PM on 29.06.2007. Dividends will be
paid out on 06.07.2007. 

3) Appointment of the auditor.

Proposal of the Supervisory Board: Shareholders are proposed to appoint Ernst &
Young Baltic AS (business registry code 10877299, located at Rävala pst. 4,
Tallinn, Estonia, listed in the auditors list under nr 58) as the auditor of
Starman AS for the year 2007 and to compensate them according to the agreement
to be made between the auditors and the Management Board of Starman. 

4) Amendment of the Articles of Association.

Proposal of the Supervisory Board: The present wording of the clause 2.4 in the
Articles of Association stipulates the right of the supervisory board to
increase the share capital of the company by payment. Pursuant to the
Commercial Code § 349 subsection 1 the right can be given to the Supervisory
Board for the maximum period of three years, i.e. until May 17th 2008. As the
options agreements made between the company and its Management Board expire on
30.06.2010, it is necessary to allow the company to meet its obligations under
the options agreements in accordance with § 349 subsection 1 of the Commercial
Code to increase the share capital by payments. 

Therefore the supervisory board proposes to prolong the right of the
supervisory board stipulated in clause 2.4 of the Articles of Association until
June 15th 2010 and adopt the following wording of clause 2.4 of the Articles of
Association of AS Starman: 

“The Supervisory Board of the Company (hence: “the Board”) is up until
15.06.2010 entitled to increase the share capital of the Company by 6 900 000
(six million nine hundred thousand) Estonian kroons to 137 435 700 (one hundred
thirty seven million four hundred thirty five thousand seven hundred) Estonian
kroons.” 

The Supervisory Board proposes to approve the new draft of the Articles of
Association. 

The time of determining the list of shareholders entitled to vote on the
General Meeting will be June 5th 2007 at 23:59. Registration to take part of
the meeting will start on the meeting day at 9:30 AM on the 2nd floor of
Tallink City Hotel located in Tallinn, A. Laikmaa 5. 

To register:

* Private individuals are asked present identification in the form of a
passport or an ID-card, a written power of attorney in case of representation 
* Legal entities are asked to present a statement from the appropriate
(business) registry, where the entity is registered (for Estonian legal
entities a copy of the B-card not older than 15 days from the business
registry), identifying the persons right to represent the shareholder (legal
power of attorney) and identification of the representative; if the
representative is not an entitled representative by law, then in addition to
the registry statement a duly executed document establishing power of attorney
is required (“transaction-based authorization”) and a document identifying the
representative. 

Any documents of legal persons registered abroad, except for the letter of
power of attorney, must be legalized by the Republic of Estonia Ministry of
Foreign Affairs or a foreign mission of the Republic of Estonia, or certified
by an Apostil. 

Beginning from May 11th 2007, the 2006 Consolidated Annual Report of AS
Starman, the report by the supervisory board and the new draft of the
Amendments of Association will be available for review at the following
locations: 

website of Starman - http://www.starman.ee;
website of the Tallinn Stock Exchange -
http://www.baltic.omxgroup.com/market/?pg=details&instrument=EE3100008830&list=2
&tab=reports; 

The Annual Report will also be available at the premises of AS Starman at
Akadeemia tee 28, Tallinn from 9:00 - 17:00 every working day.  
All queries about the Annual Shareholders meeting can be addressed via e-mail to
henri.treude@starman.ee or by phone +372 677 9977.