According to clause 1.2 of the listing decision made by Tallinn Stock Exchange Listing and Surveillance Committee on June 6, 2007, up to 35,500,000 additionally issued shares of Arco Vara AS are listed in the Main List of Tallinn Stock Exchange after the following conditions are met: - the conditions stipulated in clause 1.1 are fully met; - the increase in the company's share capital is registered with the Commercial Registry; - after meeting the aforementioned conditions, the company has submitted the respective report to TSE. The requirements set in clause 1.1 of the conditional listing decision are met as of June 20, 2007. The company issued additionally 27 500 000 shares and the increase in the company's share capital was registered with the Commercial Registry as of July 2, 2007. The respective report about meeting the conditions has been submitted, so all requirements set in clause 1.2 of the conditional listing decision are met as of today, July 2, 2007. Proceeding from the above, the 27,500,000 additionally issued shares of Arco Vara AS are listed in the Main List of Tallinn Stock Exchange and altogether 95,284,150 shares of Arco Vara AS (ISIN: EE3100034653) will be traded under common shortname ARC1T as of tomorrow, July 3, 2007. Tallinn Stock Exchange Market Services +372 640 8800