CORRECTION: Preliminary time schedule for dividends payout

Tallinn, ESTONIA


In the previously published release the cum-dividends date and the ex-dividends
date was incorrect. 

Corrected release follows. 

--------------------------------------------------------------------------------
| 16.04.07    8:00         | Fixing shareholder list entitled to vote in AGM   |
--------------------------------------------------------------------------------
| 26.04.07                 | AGM                                               |
--------------------------------------------------------------------------------
| 25.05.07                 | Cum-dividends date                                |
--------------------------------------------------------------------------------
| 28.05.07                 | Ex-dividends date                                 |
--------------------------------------------------------------------------------
| 30.05.07    23:59        | Record date of shareholders entitled to dividends |
--------------------------------------------------------------------------------
| 15.06.07                 | Dividend payment date                             |
--------------------------------------------------------------------------------

Based on  the  results of  the  2006  financial  year,  the  Supervisory
Council  of AS Tallinna Vesi proposes a dividend payout of 196 010 thousand EEK 
(12 527 thousand EUR). Of  this 10 000  EEK (639.12 EUR) to  the  owner of the 
B-share and 196 000 thousand EEK (12 527 thousand EUR) ie 9.8 EEK (0.63 EUR)
per share to the  owners of A-shares).  The proposal  is subject to  approval
by  the Company's Annual  General Meeting of the Shareholders, held on April
26, 2007. 


Eteri Harring                                                                   
Head of Treasury and Investor Relations                                         
Ph: + 372 6262 225                                                              
eteri.harring@tvesi.ee