Acquisition of OÜ Eesti Spordikanal

AS Kalev subsidiary AS Kalev Meedia today entered into a contract by which it
acquired all shares of OÜ Eesti Spordikanal. The rights related to the shares
were transferred to the buyer on signing and the sole shareholder of the
private limited company is now AS Kalev Meedia, which holds a share with a
nominal value of 40,000 kroons. 
The primary area of activity of OÜ Eesti Spordikanal is production and
transmission of TV programmes. The activity as a TV channel is in the beginning
stages. 

AS Kalev Meedia is a subsidiary in AS Kalev's media area which unites companies
and media products to be developed (see AS Kalev press release of 18 May 2007). 

Acquisition of the abovementioned share is partially a transaction with a
related person. AS Kalev CEO Oliver Kruuda was the holder of a 50% stake in OÜ
Eesti Spordikanal. AS Kalev Meedia will pay Kruuda a sales price equivalent to
the nominal value of the share formerly held by him - 20,000 kroons. 


Allan Viirma
Head of the legal service
607 7831