Change in substantial shareholding

Estonia


Pursuant to the Securities Market Act, East Capital Asset Management AB on behalf of East Capital Baltic Fund notified Tallinna Kaubamaja AS that the aggregate holding of the East Capital group fell below the 5% threshold of the voting stock in Tallinna Kaubamaja AS. After the sale of shares on 7th and 8th of June 2011 the East Capital group holds 4.87% of the total voting shares in Tallinna Kaubamaja AS.

         Raul Puusepp
         Chairman of the Board
         Phone +372 731 5000

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