AS Kalev Meedia to suspend magazine publishing

Under the resolution of 14 January 2009, AS Kalev's subsidiary AS Kalev Meedia
will suspend magazine publication from 19 January 2009. The resolution is
conditioned by the tense situation in the media and advertising market, brought
on by the economic recession. 

With the suspension of publishing indefinitely, more than 100 people will be
laid off in AS Kalev's media companies. 

Suspension of publishing will not concern other media channels of AS Kalev
Meedia and its subsidiary OÜ Eesti Spordikanal. OÜ Eesti Spordikanal will
continue broadcasting the TV channels "Kalev Sport" and "Neljas", as well as
the radio station Sun FM, which was acquired in December. AS Kalev Meedia will
also continue its news portal kalev.ee. 

The resolution concerns the gossip magazine Just, financial magazine Ärielu,
sports magazines Sporditäht and Basket, car and bicycle magazine Moto, fashion
and lifestyle magazines Avenüü and Avenüü Professional, IT magazine Praktiline
Arvutikasutaja, and children's magazines Muumi and Muumi Mõistatuste- ja
Värviraamat. 

Any advance subscription price payments will be refunded.

According to initial calculations, AS Kalev Meedia's monthly expenses will be
cut by approximately 3.5 million kroons with the suspension of the print
industry. 

According to the management of AS Kalev, any extraordinary expenses related to
the suspension of publishing and the associated lay-offs are justifiable, as
the downsizing will have a positive effect on the financial activities of AS
Kalev Group in future. 



Allan Viirma
Head of legal service
688 6616