ARCO VARA ACQUIRED ITS FIRST DEVELOPMENT PROJECT IN LITHUANIA

Arco Invest UAB, a 100% subsidiary of Arco Investeeringute AS, signed a land
acquisition deal in Vilnius, Lithuania. 

Two land plots in total size of 4 000 m2 situates in the district of Santariske
and has a construction right of 6 500 m2. 

„Current market situation provides to Arco Vara favorable options in the
Baltic's, that are necessary for the success of our long-term strategy“, says
the CFO, Mr. Aare Tammemäe. 

In three years the company plans to construct there residential spaces.

The acquisition is funded 100% by equity. Total expected capex of the project
including the land acquisition is around 8,5 million eur. 

1 EUR=15,6466 EEK

Additional information:
Heigo Metsoja
Head of Investor Relations
+372 6144 654
heigo.metsoja@arcovara.ee
www.arcorealestate.com