The Annual General Meeting of the Shareholders of AS Tallinna Vesi was held on Tuesday, 18th of May 2010 from 09.00-10.10 a.m. at the Tallink Spa Hotel. 17 436 106 votes, i.e 87,18% of the Company`s 20 million votes were represented at the meeting. AGENDA: 1 Approval of the Annual Report Supervisory Council proposal: To approve the 2009 Annual Report. RESOLUTION: With 17,432,301, i.e. 99.98% votes in favour, to approve the 2009 Annual Report. 2 Distribution of profits Supervisory Council proposal: To distribute 500,010,000 kroons (EUR 31,956,463) as dividends from AS Tallinna Vesi's retained earnings as at 31.12.2009, which includes the net profit of 339,933,577 kroons (EUR 21,725,715) for the year 2009, as follows: 1) the owners of A-shares shall be paid 25 kroons (1,6 euros) per share and the owner of the B-share shall be paid 10.000 kroons (639 euros) per share, 2) remaining retained earnings will remain undistributed, 3) the list of shareholders entitled to receive dividends shall be determined on the basis of the share ledger as at 23:59 on 01 June 2010 and the dividends shall be paid to shareholders on 11 June 2010. RESOLUTION: With 17,434,886, i.e. 99.99% votes in favour, to approve the profit distribution proposal and to distribute 500 010 000 kroons (31,956,463 euros) between the shareholders, of which 25 kroons (1,6 euros) per share will be paid to the owners of A-shares and 10,000 kroons (639 euros) per share to the owner of the B-share and the remaining retained earnings will remain undistributed. To determine the list of shareholders entitled to received dividend on the basis of the share ledger as at 23:59 on 01 June 2010 and to pay the dividends to the shareholders on 11 June 2010. 3 Recalling of Supervisory Council members Supervisory Council proposal: Due to the need to harmonise the terms of office of the elected members of the Council, as the end dates of their terms have come to vary over the years, to recall from the Council of AS Tallinna Vesi Messrs Robert John Gallienne, Matti Hyyrynen, Valdur Laid, Mart Mägi and Rein Ratas RESOLUTION: With 17,431,310, i.e. 99,97% votes in favour, to recall Messrs Robert John Gallienne, Matti Hyyrynen, Valdur Laid, Mart Mägi and Rein Ratas from the Supervisory Council of AS Tallinna Vesi. 4 Electing Supervisory Council members 4.1.Supervisory Council proposal: to elect Mssrs Robert John Gallienne, Matti Hyyrynen, Valdur Laid, Mart Mägi and Rein Ratas as Supervisory Council members of AS Tallinna Vesi from 18th May, 2010. Voting results: In favour of Robert John Gallienne:17,435,490 votes or 100 % of the votes of the general meeting In favour of Matti Hyyrynen:17,432,258 votes or 99,98 % of the votes of the general meeting In favour of Valdur Laid:17,435,753 votes or 100 % of the votes of the general meeting In favour of Mart Mägi:17,435,748 votes or 100 % of the votes of the general meeting In favour of Rein Ratas:17,435,158 votes or 99,99 % of the votes of the general meeting RESOLUTION: Since in the election of a person, the candidate who receives more votes than the others shall be deemed to be elected, to elect the following persons as Supervisory Council members of AS Tallinna Vesi from 18.05.2010: Messrs Robert John Gallienne, Matti Hyyrynen, Valdur Laid, Mart Mägi and Rein Ratas. 5 Appointment of the auditor Supervisory Council evaluation of auditors work and proposal: AS PricewaterhouseCoopers has provided auditing services for AS Tallinna Vesi during the financial year 2009 pursuant to the agreement concluded between AS PricewaterhouseCoopers and AS Tallinna Vesi in 2008. In the opinion of the Supervisory Council, AS PricewaterhouseCoopers has provided services in compliance with the agreement and the Supervisory Council does not have complaints in respect to the quality of the auditing services. To appoint AS PricewaterhouseCoopers as the auditor and Tiit Raimla as the lead auditor for the 2010 financial year and to approve the principles for remuneration of the auditors approved by the Supervisory Council. RESOLUTION: To acknowledge the Supervisory Council's evaluation and with 17,435,558, i.e. 100 % votes in favour, to appoint Aktsiaselts PricewaterhouseCoopers as the auditor and Tiit Raimla as the lead auditor for the 2010 financial year. To approve the principles for remuneration of the auditors approved by the Supervisory Council. Priit Koff Head of Communications Tel 62 62 209 priit.koff@tvesi.ee