Cancellation of the preliminary contract for the acquisition of AS Admirāļu Klubs

| Source: Olympic Entertainment Group AS Olympic Entertainment Group AS 

Olympic Casino Latvia SIA concluded preliminary contract for the acquisition of
the AS Admirāļu Klubs on 26th October 2007. The initial value of the agreement
was estimated as 625,9 mln EEK (40 mln EUR). 

In connection with the results of the due diligence, Olympic Entertainment
Group`s(OEG) subsidiary company Olympic Casino Latvia SIA will not proceed the
aquisition of the casino operator AS Admirāļu Klubs on the terms constituted in
the preliminary agreement. The consultations will continue in order to find
conditions suitable for both parties. 


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