Information released by Arco Vara AS

According to §135 section 4 of the Securities Market Act of Estonia we hereby
inform that Arco Vara AS has released the following information through the
stock exchange system during 2007: 

Date	Information
29.06	Linstow acquired 50% of a Arco Vara development project in Latvia 
02.07	Aare Tammemäe starts as chief financial officer and member of board of
Arco Vara 
02.07	Additional information to 29.06.2007 announcement regarding the
engagement of a partner to a development project in Riga 
11.07	Arco Vara opens three new offices in Bulgaria and Romania 
13.07	Arco Vara acquired first development project in Bulgaria in Sofia 
02.08	Arco Vara acquired its second development project in Bulgaria 
03.08	Disposal of a holding 
09.08	Arco Vara opens new branch in Lithuania 
15.08	Concluding a loan contract 
17.08	Business name change of the subsidiary 
21.08	Change in the accounting of majority shareholders 
24.08	Financing agreement 
30.08	Unaudited results for the first half of 2007 
05.09	Arco Vara acquired its first development project in Lithuania 
12.09	Avo Rõõmusaar is a new management board member of Arco Vara AS 
21.09	Arco Vara established a joint venture with Riga municipality 
24.09	Arco refinanced commercial papers 
28.09	Arco Balti Kinnisvaraportfell AS, managed by AVEC Asset Management AS,
concluded a share issue in amount of 55,5 million kroons (3,55 million euros) 
16.10	Arco Vara concluded a construction contract in Bulgaria 
22.10	Arco Vara increased shareholding in its agency operations in Romania 
13.11	Change in the accounting of majority shareholders 
29.11	Interim unaudited report, 9 months 2007 
03.12	Correction in interim unaudited operating report, 9 months 2007 
12.12	A change in the membership of the Management Board of Arco Vara AS and a
change of the head of the Supervisory Council 
19.12	Construction contract

Up to present date on 2008, Arco Vara AS has released the following information
through the Tallinn Stock Exchange information system: 

Date	Information
11.01	Arco Vara expands its activities in Romania 
08.02	Veiko Taevere becomes member of the board of Arco Vara 
13.02	Arco Vara concluded a construction contract in Bulgaria 
14.02	Change in the accounting of majority shareholders 
20.02	Loan agreement 
27.02	Pre-agreement for the development of shopping centre in Ukraine 
29.02	Unaudited interim report 12 months 2007 
06.03	Apartment sales block deal in Sofia 
02.04	Arco Vara acquires 55% stake in small construction company Tempera Ehitus 
03.04	Arco Vara changed stakes in its subsidiaries 
04.04	Construction contracts 
15.04	Announcement of Arco Vara AS' shareholders general meeting 
18.04	Arco Vara sold retail facilities in Kuressaare in Estonia 
18.04	Tallinn City Council approved the zoning for “Tivoli” project 
21.04	Correction: Announcement of Arco Vara AS' shareholders general meeting 
14.05	Decisions of annual general meeting of shareholders 
26.05	Tallinn municipality approved the zoning for Laeva 2 project 
28.05	Riga District's Garkalne County approved the zoning in Latvia in MB-3
project 
29.05	Arco Vara AS Interim report 2008 Q1 
20.06	Arco Vara sold its shareholding in AVEC Asset Management AS to East
Capital 
25.06	Arco Vara receives five hectars of residential land in Tallinn in
Merivälja district 
08.07	Change in the qualifying holding 
09.07	Share buyback program 
14.07	Arco issued commercial papers

All the above mentioned announcements are available on the website of Tallinn
Stock Exchange at:
http://www.baltic.omxnordicexchange.com/market/?instrument=EE3100034653&list=2&c
urrency=EEK&pg=details&tab=news
by selecting the respective start and end date of the period in the search
engine. 

Additionally, Arco Vara AS has published on the Tallinn Stock Exchange website
the quarterly interim reports of 2007 and the audited annual report of 2007.
The reports are available at the following adderss: 
http://www.baltic.omxnordicexchange.com/market/?pg=reports. 

Arco Vara is a leading real estate developer in the Baltic's, undergoing a SEE
expansion with presence established already in Ukraine, Bulgaria and Romania.
Core business is real estate development supported by brokerage and
construction arm. The company has offices in 29 cities and employs over 640
people. According to 2007 audited consolidated results net sales was 727 mln
kroons (46 mln euros), net profit before minorities 235 mln kroons (15 mln
euros) and assets 3 564 mln kroons (228 mln euros). Arco Vara is listed on
Tallinn Stock Exchange. 

1 EUR=15,6466 EEK

Heigo Metsoja
IRO
+372 6144 654
heigo.metsoja@arcovara.ee
http://www.arcorealestate.com