Olympic Entertainment Group to make several changes in its management structure

Armin Karu, current Chairman of the Management Board and CEO of Olympic
Entertainment Group (OEG) and Management Board member Mart Relve will be
resigning from the Management Board from 14 August and continue work in the
Supervisory Board of OEG. Andri Avila, current member of the Management Board,
will continue as the Chairman in the one-member Management Board and CEO of the
Group. The changes to be made in the Supervisory Board will need approval from
the extraordinary general meeting of shareholders that will take place on 14
August. 

Changes made in the management structure of the Group will create a clearer
division in the areas of responsibility between key members of the management.
Under the new Chairman Armin Karu, the Supervisory Board will become notably
more active in leading and directing the development strategy of the Group. “We
decided to simplify management of the Group so that the Supervisory Board will
focus on implementing our expansion plans and the Management Board will focus
on managing the Group's operations,” said Armin Karu, current Chairman of the
Management Board and CEO of OEG, in comment to the structural changes. “In
essence, the current work arrangement where I was responsible for the expansion
strategy will remain in place, but in the new structure we will separate it
from operational management,” added Karu. 

Andri Avila, Chairman of the Management Board and CEO of OEG, will continue
with the successful day-to-day management of the Group. Tarmo Kase who until
now was the current Managing Director of Olympic Casino Eesti has been working
as Head of Casino Operations on the Group level - the position that did not
exist before - already from 1 May. Under the new structure, Andri Avila will
directly supervise over 10 divisional heads whose average length of employment
in executive positions in OEG is more than five years. “We have an excellent
team that has been involved in the whole rapid expansion of recent years and
successfully managed the quickly growing organization,” emphasized Avila the
experience and high motivation of the Group management. 

Current members of the Supervisory Board of OEG - Jaan Korpusov, Liina Linsi,
Peep Vain and Anders Galfvensjö - will continue in the new Supervisory Board in
addition to Armin Karu and Mart Relve. Kaia Karu, current member of the
Supervisory Board of OEG, will leave the Supervisory Board after the general
meeting of shareholders to be held in August. 

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