Olympic Casino Ukraine signed a preliminary contract for acquisition of local casino operator

Today, on 5 July, Olympic Casino Ukraine TOV, the subsidiary of Olympic
Entertainment Group (OEG), signed a preliminary purchase and sale contract for
the acquisition of casino operator Eldorado. 

Eldorado is one of Ukraine's best-known casino chains that owns five casinos in
the capital city, Kyiv. 

Pursuant to the contract, Olympic Casino Ukraine TOV, the subsidiary of OEG,
will acquire 100 percent of Alea, Eldorado Leisure Company and Ukraine Leisure
Company that operate three casinos and two slot casinos and bars in Kyiv.
Subsidiary of OEG will acquire these three companies after the signing of the
final share purchase and sale contract. The deal is also subject to approval by
the Competition Board of Ukraine. OEG expects to complete the process by this
autumn. The initially agreed share sale and purchase contract is around EEK 144
mln (EUR 9.2 mln). 

The execution of this contract does not constitute the acquisition of a
significant holding under the rules of the Tallinn Stock Exchange. The
transaction cannot be regarded as a transaction with connected person and the
members of the Management Board or Supervisory Board of OEG have no personal
interest for executing the transaction. 

Olympic Entertainment Group entered the Ukraine gaming market in November 2004.
Since then the company has opened 11 slot casinos and invested over EEK 180
million (EUR 11.5 mln) on the Ukrainian market. Today the company employs more
than 200 people in Ukraine. The companies that operated under the Eldorado
brand employed around 400 people at the end of 2006. 

Additional information:

Andri Avila
Member of the Management Board
Olympic Entertainment Group 
Tel + 372 667 1250
E-mail: andri.avila@oc.eu
www.olympic-casino.com