Börsiteade

Pealkiri

Acquisition of apartments

Teade

At the end of January 2008, AS Kalev's subsidiary AS Kalev Real Estate Company
(Kalev REC) acquired 10 apartments at Kinga 1 in Tallinn. The total purchase
price of the apartments amounted to 77 million kroons. This amount has been
fully paid by the buyer, with 15.4 million kroons paid in advance before
conclusion of the real right contract. 

Kalev REC took out a combined mortgage from AS Hansapank on the acquired
apartments in the amount of 42 million kroons and 18.6 million kroons. 

The purchase of the apartments was partially financed by a loan taken by Kalev
REC from AS Hansapank in the amount of 3,226,738.70 euros (i.e. 50.5 million
kroons). 

The 989,831-euro loan is due for payment on 18 April 2008, and has an annual
interest rate of 14.5%. The 2,236,907.70-euro loan is due for payment on 18
January 2010, and has an annual interest rate of 6-month EURIBOR +2.0%. 

The above transaction was concluded in the course of Kalev REC's ordinary
business activities (i.e. real estate-related activities). 


Allan Viirma
Head of Legal Service
616 1916