On April 15, 2008 the TSE Court of Arbitration examined the claim of AS Tallink Grupp for annulling the TSE Listing and Surveillance Committee's decision No. 91-2007 of November 6, 2007. With aforementioned decision, the Committee decided to impose a penal fine in the amount of 50 000 kroons to Tallink Grupp for violation of the TSE Rules part “Requirements for Issuers”. See also TSE's announcement “Committee's Decision On Tallink Grupp” of November 6, 2007. The Court of Arbitration decided on April 22, 2008 as follows: A. Dismiss the claim action of AS Tallink Grupp for annulling the TSE listing and Surveillance Committee's decision No. 91-2007 of November 6, 2007 about imposing the penal fine in the amount of 50 000 kroons. B. To reclaim AS Tallink Grupp to pay the arbitration fee paid by the TSE in favour of TSE. C. To leave the arbitration court procedure legal expenses paid by the parties. Tallinn stock Exchange Market Services +372 6408800