The announcement released on 14.05.2008 excluded some of the required information about Mr. Ragnar Meitern. At the moment when Mr. Ragnar Meitern was elected as new member of Supervisory Board, he owned no shares of Arco Vara AS and was not a member of any Managerial Body of any business. Today Mr. Ragnar Meitern does not own any Arco Vara AS shares and is not a member of Managerial Body of any other company. Heigo Metsoja CFO +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com