Subsidiary of Arco Vara, Arco Real Estate AS, acquired from the second shareholder IPC Romania OÜ its holding in Arco Rumeenia Valduste OÜ. The latter is a holding vehicle for Arco Real Estate Consulting SRL - agency business in Romania. After the deal Arco Real Estate AS has 100% in Arco Rumeenia Valduste OÜ. According to the head of service division and management board member Mr. Avo Rõõmussaar its important to have a clear vision in developing Arco's business model in Romania. Parties will not publish deal price. Arco Vara AS is a listed integrated property developer, constructor, broker and investment manager in the Baltic countries, undergoing a CEE expansion with presence established in Ukraine, Bulgaria and Romania. Its 2007 1HY revenues were 31 mln euros and net profit 14,5 mln euros. 1 EUR=15,6466 EEK Additional information: Heigo Metsoja Head of Investor Relations +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com