Market announcement

Arco Vara AS

Category

Other price sensitive information

Date

08.02.2008 15:41:25

Title

Veiko Taeverest saab Arco Vara juhatuse liige

Message

Veebruaris 2008 asub Arco Investeeringute AS juhatuse liige Veiko Taevere       
kontserni emaettevõtte Arco Vara AS arendustegevuse eest vastutava juhatuse     
liikme kohale.                                                                  

Senine juhatuse liige Veiko Pedosk asub tegelema ettevõtte uute turgude         
strateegiaga. “Esialgu on eesmärgiks aktiivselt käima saada Arco Vara           
arendustegevus Ukrainas, kuid paralleelselt analüüsime pidevalt ka uusi riike   
Ida-Euroopa piirkonnas,” ütles Pedosk.                                          

Arco Vara juhatuse esimees Aare Tammemäe ütles, et Veiko Taevere on oma seniste 
ametikohustuste tõttu Arco Vara arendusdivisjoni emaettevõtte Arco              
Investeeringute AS juhatuse liikmena juba mänginud olulist rolli kõigi          
olemasolevate arendusprojektide juures ja seega ka ainumõeldav valik Arco Vara  
juhatuse liikme kohale.                                                         

Veiko Pedosk oli enne Arco Varaga liitumist 1997-2002 AS Sampo Liisingu juhatuse
liige ning Eesti Liisingühingute Liidu juhatuse liige ja esimees, 1994-1996     
erinevatel positsioonidel Eesti Innovatsioonipangas ning kuni 1994 aastani      
Baltmotorsis. Pedosk on lõpetanud Tallinna Tehnikaülikooli ärijuhtimise alal    
ning läbinud erinevaid täiendkoolitusi, sh Euromoney kursusi.                   

Veiko Taevere oli enne Arco Vara arendusdivisjoni emaettevõtte Arco             
Investeeringute AS juhatuse liikme kohale asumist 1999-2006 Arco Transpordi     
finantsjuht ning 1996-1999 Tallinna Panga liisinguosakonna juhataja.            

Arco Vara on 1992. aastal Eestis tegevust alustanud ja tänaseks Baltimaade      
juhtivaks kasvanud kinnisvaraettevõte. Ettevõtte tegevus hõlmab nii kinnisvara  
vahendus-, arendus- ja ehitustegevust kui ka investeeringute juhtimist ning     
firmal on esindused 30 linnas Eestis, Lätis, Leedus, Ukrainas, Bulgaarias ja    
Rumeenias. Grupis ja selle ühisettevõtetes töötas 2007. aasta kolmanda kvartali 
seisuga kokku 649 inimest. Arco Vara AS 2007. aasta 9 kuu konsolideeritud käive 
moodustas 687 mln krooni (44 mln eurot), puhaskasum 264 mln krooni (17 mln      
eurot) ja bilansimaht 3 536 mln krooni (226 mln eurot). Arco Vara aktsiad on    
noteeritud Tallinna Börsil.                                                     

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

Title

Veiko Taevere becomes member of the board of Arco Vara

Message

Starting in February 2008 former member of the board of Arco Investeeringute AS 
Mr Veiko Taevere assumes the role of member of the board of the parent company, 
Arco Vara AS, where he will be in charge of development.                        

Former member of the board of Arco Vara AS, Mr Veiko Pedosk will focus on the   
new markets for the Group. “Initially the goal is to activate Arco Vara's       
development activities in Ukraine, but at the same time we are also constantly  
exploring new opportunities in Eastern Europe,” said Pedosk.                    

CEO of Arco Vara, Mr Aare Tammemäe said that Mr Taevere has been the member of  
board of the parent company of Arco Vara's development division, Mr Taevere has 
already played an important role in all ongoing development projects, and hence 
is the most capable person for the position. Mr Tammemäe mentioned that while   
maintaining the company's liquidity it should also take an advantage of         
opportunities available in the current market situation.                        

Mr. Veiko Pedosk, prior to joining Arco Vara, was Chairman of the Management    
Board of AS Sampo Liising from 1997 to 2002 and Member and Chairman of the      
Management Board of Estonian Leasing Association from 1998 to 2002. In 1994     
-1996 he worked for the Estonian Innovation Bank at different positions and     
until 1994 he worked for the car-company Baltmotors Mr. Pedosk graduated from   
Tallinn University of Technology, where he specialized in Business              
Administration and has gone through additional training including Euromoney     
courses.                                                                        

Mr Veiko Taevere, prior to joining the parent company of Arco Vara's development
division, Arco Investeeringute AS, was chief financial officer of Arco Transport
between 1999-2006 and head of the leasing department of Tallinna Pank in        
1996-1999.                                                                      

Arco Vara is a leading real estate developer in the Baltic's, established in    
1992. The operations involve real estate development, brokerage, construction   
and investment management arm. The company is located in 30 cities in the       
Baltic's, Ukraine, Bulgaria and Romania and has in total 649 employees.         
According to 9 months results 2007 consolidated revenues were 687 mln kroons (44
mln euros), net profit 264 mln kroons (17 mln euros) and assets 3 536 mln kroons
(226 mln euros). Arco Vara is listed on Tallinn Stock Exchange.                 

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