CHANGES IN SUBSTANTIAL SHAREHOLDINGS


As of 14.07.2008 the following significant changes have taken place in the 
ownership structure of the companies listed on the Tallinn Stock Exchange, 
compared with the standings disclosed earlier.
 
The levels of 5%, 10%, 15%, 20%, 25%, 33%, 50% and 66% are considered to be 
significant.

 
Issuer                          Previously       Per cent of 
                        disclosed per cent      shares as of
   Shareholder                   of shares        14.07.2008
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Arco Vara (95 284 150 shares)

   OÜ GREATWAY                       12.98          7.74

   JPMORGAN CHASE BANK, 
   NATIONAL ASSOCIATION ON BEHALF 
   OF UK RESIDENTS                    9.68         10.23
--------------------------------------------------------------
Ekspress Grupp (18 971 081 shares)

   Skandinaviska Enskilda 
   Banken Ab Clients                 5.57         alla 5
--------------------------------------------------------------
Norma (13 200 000 shares)

   ING LUXEMBOURG S.A.               7.39         alla 5
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