On 18 November 2008 Port of Tallinn signed an agreement with Nordea Bank Finland Plc Estonian Branch for prolonging the 1-year bond issue with maturity date of 19 November 2008 for another 6 months and with an opportunity to refinance the bond issue for 10 years after the end of the prolonged period on 19 May 2009. The amount of the bond issue is EUR 25.6 million (EEK 400.553 million) and it consists of 512 bonds with the nominal value of EUR 50,000 per bond. On the lengthened 6 months period the interest rate is based on 1 month Euribor, the additional interest margin will be 1.15% per year. If Port of Tallinn decides to use the option to change the maturity date of the bond emission to 10 years, the interest rate will be based on 6 months Euribor and the additional interest margin will be 2.50% per year. The owner of the bonds is Nordea Bank Finland Plc Estonian Branch and the bond issue is registered in the Estonian Central Register of Securities (ISIN code EE3300093830). The bonds are not listed on the stock exchange. The reason of prolonging the bond issue maturity date is the current situation on the money market - limited supply and unfavorable prices for long term financing. Considering the length of Port of Tallinn's investment projects the mentioned bond issue will be refinanced for long term as soon as the conditions on money market improve. If the situation will not heel, the above mentioned option of Nordea bank will be used. Marju Zirel Treasurer +372 631 8048 Sven Ratassepp Public Relations Manager +372 631 8064