Change in substantial shareholding


Pursuant to § 185 and § 187 of the Securities Market Act, the asset management
company Arka BZ WBK AIB Towarzystwo Funduszy Inwestycyjnych S.A. notified AS
Baltika that the aggregate holding of its funds (hereinafter “Funds”) has
exceeded the 5% threshold of the voting stock in AS Baltika. 

According to the notice, as of 25 July, 2007, the number of shares held by the
Funds (altogether 5 entities) amounts to 937,724 which represents 5.03% of the
total voting shares of AS Baltika. 


Triin Palge
Head of investor relations
+372 630 2886