Change in the qualifying holding

Arco Vara AS informs the change in the qualifying holding of share capital. 

SEB Bank notified Arco Vara that on the representative account in 
Skandinaviska Enskilda Banken AB Clients the qualifying holding exceeds 5%. Non
of the actual owners of the shares behind the account don't have over 5%. 

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 network and
construction arm. The company has offices in 29 cities and employs over 600
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