Significant changes occurred in the structure of the shareholders of AS Kalev on 27 November 2007. On 29 November 2007, AS Rubla announced the increase of the share in AS Kalev to 10.9604%. As of 27 November 2007, AS Rubla holds 2,590,211 shares of AS Kalev. On 29 November 2007, AS Mailtec informed the issuer of the transfer of 2,418,801 shares of AS Kalev on 27 November 2007. Prior to the transfer, AS Mailtec held 10.2351% of the shares of AS Kalev. After the transfer, the transferor is no longer a shareholder in AS Kalev. Allan Viirma Head of Legal Service 616 1916