AS Pro Kapital Grupp announces that a subsidiary company of the group, AS Tondi Kvartal, has established a new subsidiary, OÜ Dunte Arendus for the development of the Dunte project in Tallinn. The business area of the new subsidiary and the planned business activity is real estate development.

The share capital of Dunten OÜ is 2 500 euros, which upon the establishment of the company belongs 100% to AS Tondi Kvartal. The members of the management board of the new company are Paolo Vittorio Michelozzi, the CEO of AS Pro Kapital Grupp and Ervin Nurmela, the management board member of AS Pro Kapital Eesti.

The purpose of establishment of the subsidiary is to transfer of the Dunte premises located near Kristiine City in Tallinn to the subsidiary and commence the development of the project.

The establishment of the subsidiary does not have an effect of the economic activity of the issuer.

AS Pro Kapital Grupp shall inform the investors through the Stock Exchange system additionally when further decisions have been made regarding the project.

Additional information:

Kristiine City is a housing development project located near Tallinna city centre. The homes being built in Kristiine City are modern, space-smart and have a stylish design. They are green and private whilst you can enjoy quick links to the center and other city districts. Alongside new houses older, historic and dignified houses from the beginning of 20th century are brought to life.

Additional information about Kristiine City may be found at:

Allan Remmelkoor
Member of the Management Board
Tel.: +372 6144 920