AS Kalev founds subsidiary

AS Kalev has founded a new subsidiary, 100% owned by AS Kalev. The new company
will assume the functions of the media undertakings in the AS Kalev Group. 

The new company, AS Kalev Meedia, is AS Kalev's subsidiary for media operations
and will unite management and development of Kalev's publishing activities. AS
Kalev Meedia will acquire Ärielu, Sporditäht, Just, Basket and Muumi, all of
which are titles published by AS Inreko Press and OÜ Olliwood. Media products
to be acquired or developed in the future are also planned to be transferred to
the subsidiary. 

Information on the new subsidiary:

AS Kalev Meedia
Owner: 100% AS Kalev
Share capital: 400,000 kroons divided into 40,000 shares. The nominal value of
each share is thus 10 kroons. 
Main field of activity: media, publishing periodicals

AS Kalev Meedia management bodies: 

Members of the supervisory board: 

Alar Pink - AS Kalev marketing director since 2001. Pink is a member of the
management board of AS Kalev Chocolate Factory, AS Kalev Jõhvi Tootmine and AS
Vilma. 
Andres Rannamäe - Director of strategy and organizational development at AS
Kalev since August 2004. Before taking his post with AS Kalev, Rannamäe served
as a member of the management board of the Estonian Health Insurance Fund. He
also served as member of the supervisory board of AS Kalev Chocolate Factory,
AS Kalev Jõhvi Tootmine and AS Vilma. 
Allan Viirma - Head of the AS Kalev legal service, employed by AS Kalev since
2000. Viirma is a member of the supervisory board of AS Kalev Paide Tootmine. 

CEO: 
Oliver Kruuda - CEO of AS Kalev since 2000.


The entry into the Commercial Register regarding AS Kalev Meedia was made on 17
May 2007. 


Allan Viirma
Head of the legal service
6 077 831