Bonds Issue


In November 2007 AS Tallinna Sadam arranged bonds issue in amount of EUR 25.6   
million (EEK 400.553 million) with maturity of 1 year. The value date of        
emission is 19 November 2007. Bonds will have a floating interest rate based on 
the 1-month Euribor. The additional interest margin will be 0.31% per year.     
The value of each bond is EUR 50,000 (EEK 782,330), the volume of the bond issue
is 512 bonds. The emission will be arranged by Nordea Bank Finland Plc Estonian 
branch and the bonds will not be listed on the stock exchange.                  
The funds will be used for dividend payment and income tax on dividends in the  
amount of EEK 256.4 million (EUR 16.4 million) and the rest for financing of    
investments necessary for company core activity. In 2007 AS Tallinna Sadam has  
invested ca EEK 770 million (EUR 49.2 million) within 10 months, the investments
have been financed from company's own cash flows.                               

Marju Zirel                                                                     
Treasurer                                                                       
+372 631 8048                                                                   

Sven Ratassepp                                                                  
Public Relations Manager                                                        
+372 631 8064