CHANGES IN SUBSTANTIAL SHAREHOLDINGS


As of 27.10.2008 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 
r                        disclosed per cent      shares as of
   Shareholder                   of shares        27.10.2008
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Arco Vara (95 284 150 shares)

FREIER PROJEKT OÜ                 15.76             20.89

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