AS Kalev increases subsidiary's share capital

On 26 June 2007, AS Kalev decided to increase the share capital of AS Kalev
Chocolate Factory by 47,356,340 kroons. The subsidiary will issue 4,735,634 new
shares with a nominal value of 10 kroons. All shares will be acquired by AS
Kalev. 

The purchase of the shares will offset AS Kalev's 47,356,340-kroon claim to the
subsidiary. 

The rights arising from the new shares are the same as of all other shares. The
shares grant the right to receive dividends this financial year. 

After the increase, AS Kalev Chocolate Factory's share capital will amount to
138,353,340 kroons. 


Allan Viirma
Head of Legal Service
607 7831