The announcement released on 19.08.2008 excluded some of the required information on shares and voting rights in Arco Vara AS. Arco Vara AS hereby informs about the change in the holdings and votes in Arco Vara AS. OÜ Freier Projekt's management board informed Arco Vara AS, that starting from 15.08.2008 OÜ Freier Projekt owns 4 764 208 shares of Arco Vara AS, as a result of which the voting rights owned by OÜ Freier Projekt form 5.0% of voting rights represented by shares of Arco Vara AS. The sole shareholder of OÜ Freier Projekt is Mr. Toomas Tool. Thus 50% of Arco Vara AS shares are in indirect holding of Mr. Toomas Tool and 5.0% of the voting rights in Arco Vara AS are indirectly controlled by him. Management of OÜ Freier Projekt confirms that Mr. Toomas Tool has no more Arco Vara AS shares in his direct ownership. Heigo Metsoja IRO +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com