On January 8, 2009 the Listing and Surveillance Committee of NASDAQ OMX Tallinn reviewed the application for termination of listing of Q Vara bonds in the Bonds List of Tallinn Stock Exchange. In its application Q Vara mentioned that the reason for applying for termination of listing is the complicated economic situation - shrunken bank financing has resulted in significantly higher financial costs and therefore refinancing of high interest rate bridge financing has been more difficult. In its application Q Vara explained that the redemption date of the bonds will arrive on January 12, 2009. The bonds are guaranteed by the surety of the co-holder of Q Vara - SLProductions whose creditors have entered dozens of debt notices into the Credit Registry. Abovementioned difficulties have resulted in infringement of the Terms and Conditions of the Bond Issue that the bond investors decided to qualify as the Event of Default. The Collateral Agent of the bonds Danske Bank A/S Estonia has filed the application for early redemption due to the Event of Default. Since AS Q Vara is in financial difficulties and it does not have current funds, but the company's operations sustainability is likely after reorganization, Q Vara has filed an application for reorganization procedures to the Harju County Court. Considering the above and the structure of the bond investors, the termination of listing of the bonds will not significantly harm interests of the bond investors and does not give any holders unfair advantages over the others. The Listing and Surveillance Committee of NASDAQ OMX Tallinn has decided to satisfy the application of Q Vara and terminate the listing agreement and therefore terminate the listing of its bonds on the bonds list as of January 10, 2009. NASDAQ OMX Tallinn Market Services +372 640 8800