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 22.10.2008 OÜ Freier Projekt owns 19 909 133 shares of Arco Vara AS, as a result of which the voting rights owned by OÜ Freier Projekt form 20.89% of voting rights represented by shares of Arco Vara AS. The sole shareholder of OÜ Freier Projekt is Mr. Toomas Tool. Thus 20.89% of Arco Vara AS shares are in indirect holding of Mr. Toomas Tool and 20.89% of the voting rights in Arco Vara AS are indirectly controlled by him. Heigo Metsoja CFO / Member of the management board +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com