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Pealkiri

AS Tallink Grupp publishes the Listing Summary and FDR terms and conditions, submits the listing application and announces the Free FDR Conversion Period

Teade

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
THE  UNITED STATES,  CANADA, AUSTRALIA,  HONG KONG,  SOUTH AFRICA,  SINGAPORE OR
JAPAN  OR ANY OTHER JURISDICTION  IN WHICH THE DISTRIBUTION  OR RELEASE WOULD BE
UNLAWFUL.

AS  Tallink  Grupp  (the  "Company"  or  "Tallink")  announces that it has today
completed  several  milestones  in  the  contemplated  process for the secondary
listing  (the "Listing")  of the  Company's shares  on the  main list  of Nasdaq
Helsinki  Ltd  ("Nasdaq  Helsinki")  in  the  form  of  Finnish share depositary
receipts  (the  "FDRs").  The  Company  announces  today  the publication of the
Listing  Summary and  the FDR  terms and  conditions relating  to the Listing in
English  and in Finnish  on its website  at www.tallink.com/nasdaq-helsinki, the
commencement of the Free FDR Conversion Period, as well as the submission of the
listing application with Nasdaq Helsinki.

The Company also invites media to a press conference today, 19 November 2018, at
1:30 pm  Finnish  time,  at  the  Helsinki  Stock  Exchange  (Fabianinkatu  14,
Helsinki).

Background to the Listing

As  announced on 1 November 2018, the Company  has concluded an issuer agreement
with  Nordea Bank Abp, who will act as an issuer agent for the FDRs on behalf of
the Company (the "FDR Issuer"). The Company has engaged Nordea Bank Abp, through
its  Denmark branch, to provide liquidity  provision services in relation to the
commencement of the trading on Nasdaq Helsinki.

The  main purpose of the Listing is  to further improve the Company's visibility
and to make the Company's shares more widely accessible to investors, as well as
to increase trading volumes and facilitate more efficient price formation of the
Company's shares.

Free FDR Conversion Period

Nordea  Bank Abp has agreed not to charge the conversion fees from the Company's
shareholders  resulting from the conversion of their shares into FDRs, amounting
to  EUR 120, for a period commencing  on or about 19 November 2018 at 12.00 noon
Finnish  time and  ending on  or about  29 November 2018 at 6.00 pm Finnish time
(the "Free FDR Conversion Period"), provided that the Free FDR Conversion Period
is  not extended.  One free  conversion per  securities account  will be offered
during the Free FDR Conversion Period. Shareholders' own service providers' fees
will still apply.

More  details about the Free  FDR Conversion Period are  announced in a separate
stock exchange release on 19 November 2018.

Important Dates

  * The Free FDR Conversion Period commences on or about: 19 November 2018 at
    12 noon
  * Nasdaq Helsinki is expected to approve the listing application on or about:
    26 November 2018
  * The Free FDR Conversion Period ends on or about: 29 November 2018 at 6.00 pm
  * Trading in the FDRs on the main list of Nasdaq Helsinki is expected to
    commence on or about: 3 December 2018

Tallink in brief

Tallink  is the leading  European ferry operator  in offering high quality mini-
cruise  and passenger  transport services  in the  Northern Baltic Sea region as
well  as a  leading provider  of ro-ro  cargo services  on selected  routes. The
Company  provides its  services on  various routes  between Finland  and Sweden,
Estonia  and Finland, Estonia and Sweden, as well as Latvia and Sweden under the
brand  names of "Tallink"  and "Silja Line".  Tallink owns a  total fleet of 14
vessels  that include cruise ferries, high-speed  ro-pax ferries and ro-ro cargo
vessels.   11 core  vessels  consist  of  cruise  ferries  and  ro-pax  ferries.
Additionally,  Tallink  operates  two  ro-ro  cargo  vessels and owns one vessel
chartered out. Further, Tallink operates three hotels in Tallinn and one in Riga
in  leased  premises.  Tallink  also  operates  15 shops  and  one restaurant in
Estonia.

Tallink's vision is to be the market pioneer in Europe by offering excellence in
leisure  and  business  travel  and  sea  transportation  services,  and its key
highlights  are a well-established platform,  strong service orientation, stable
revenue profile with future opportunities, as well as dividend potential.

Listing application submitted

The  Company has today  submitted a listing  application with Nasdaq Helsinki to
list  the FDRs on the  official list of Nasdaq  Helsinki. Trading in the FDRs is
expected to commence on or about 3 December 2018.

Publication  of the  Listing Summary,  the FDR  terms and conditions and certain
other information relating to the Listing

The Company announced on 16 November 2018 that it has received an exemption from
the  Finnish Financial Supervisory Authority (the "FIN-FSA") from the obligation
to  publish a prospectus in connection  with the contemplated secondary listing.
As  a condition  for receiving  the exemption  from the  obligation to publish a
prospectus,  the Company has prepared a  listing summary (the "Listing Summary")
in Finnish and translated it into English.

Both  language versions of the Listing Summary  and the FDR terms and conditions
are   now   available   in   electronic   form   on  the  Company's  website  at
www.tallink.com/nasdaq-helsinki.  The  Listing  Summary  is  also  available  in
Finnish  on  OP  Financial  Group's  website at www.op.fi/listautuminen. Printed
copies  of both language  versions of the  Listing Summary are  available at the
Company's headquarters at Sadama 5/7, 10111 Tallinn, Estonia, and printed copies
of  the Finnish language  version are available  at the service  point of Nasdaq
Helsinki at Fabianinkatu 14, FI-00100 Helsinki, Finland.

The English-language Offering Memorandum relating to the initial public offering
of  the Company, dated 18 November 2005, and the Offering Memorandum relating to
the Company's share issue, dated 8 August 2006, are available in electronic form
on   the   Company's   website  www.tallink.com/nasdaq-helsinki.  The  financial
information  of the Company  is available in  English at www.tallink.com/reports
and  stock  exchange  releases  of  the  Company  are available in English on at
www.tallink.com/stock-exchange-releases.

The Listing Summary contains the following unpublished information:

Liquidity provider arrangement

The  Company has on 31 October 2018 entered  into a market making agreement with
Nordea  Bank  Abp  acting  via  Nordea's  Danish  branch  (the  "Market Maker"),
concerning  certain market making activities to  be provided by the Market Maker
in respect of the FDRs. The purpose of the agreement is to promote the liquidity
in  the FDRs and reduce the difference between  bid and ask prices in trading in
the FDRs on Nasdaq Helsinki.

Pursuant  to the agreement, the Market Maker  has an obligation to quote bid and
ask  prices continuously, for its  own account, regarding the  FDRs for at least
85% of  the  time  of  ordinary  trading  hours  of Nasdaq Helsinki. The maximum
difference  between the bid and ask prices referred to in the agreement is 4% of
the  bid. The minimum volume of FDRs subject to  a bid or ask referred to in the
agreement  is a  number of  FDRs worth  of at  least EUR  4 000. The term of the
agreement  is fixed  from the  first day  of the  trading of the FDR's on Nasdaq
Helsinki for a period of 6 months, after which the agreement continues to remain
in force until further notice subject to mutual notice period of one (1) month.

Alternative performance measures and key figures

Tallink   presents  certain  performance  measures  as  key  figures,  which  in
accordance  with the "Alternative Performance Measures" guidance by the European
Securities   and  Markets  Authority  (ESMA)  are  not  accounting  measures  of
historical  financial performance, financial position and cash flows, defined or
specified  in IFRS, but which are instead non-financial measures and alternative
performance measures ("APMs").

The   non-financial   measures  and  APMs  provide  the  management,  investors,
securities analysts and other parties significant additional information related
to  Tallink's results  of operations,  financial position  or cash flows and are
often used by analysts, investors and other parties.

The  non-financial measures and APMs should not be considered in isolation or as
substitute to the measures under IFRS.

Calculation formulas of alternative performance measures

EBITDA:  result from operating  activities before net  financial items, share of
profit of equity-accounted investees, taxes, depreciation and amortization

EBIT: result from operating activities

Earnings per share: net profit / weighted average number of shares outstanding

Equity ratio: total equity / total assets

Shareholder's  equity  per  share:  shareholder's  equity  /  number  of  shares
outstanding

Gross margin: gross profit / net sales

EBITDA margin: EBITDA / net sales

EBIT margin: EBIT / net sales

Net profit margin: net profit / net sales

Capital  expenditure: additions to property, plant  and equipment + additions to
intangible assets

ROA: earnings before net financial items, taxes / average total assets

ROE: net profit / average shareholders' equity

ROCE:  earnings  before  net  financial  items,  taxes / (total assets - current
liabilities (average for the period))

Net debt: interest-bearing liabilities less cash and cash equivalents

Net debt to EBITDA: net debt / 12-months trailing EBITDA

Key figures

                   As at or for the nine  |
                      months ended 30     |    As at or for the year ended
                         September        |            31 December
                                          |
                     2018         2017    |   2017        2016         2015
                                          |
 (millions of EUR                         |
 unless otherwise                         |  (audited and restated(1), unless
 stated)                (unaudited)       |      otherwise indicated( 3))
------------------------------------------+------------------------------------
 KEY FIGURES                              |
                                          |
                                          |
                                          |
 For the period                           |
                                          |
 Revenue                723.2        734.1|      967.0       937.8        945.2
                                          |
 Gross profit           149.2        156.1|      194.6       192.6        223.4
                                          |
 Net profit for                           |
 the period              41.8         45.4|       46.5        44.1         59.1
                                          |
 EBITDA(3)              118.8        129.5|      158.3       149.5        181.4
                                          |
 Depreciation and                         |
 amortisation            59.0         64.5|       86.4        77.9         78.1
                                          |
 EBIT(3)                 59.8         64.9|       72.0        71.6        103.3
                                          |
 Capital                                  |
 expenditures(3)         20.4        212.1|      219.3        68.9         43.6
                                          |
 Weighted average                         |
 number of shares                         |
 outstanding(1)   669 882 040  669 882 040|669 882 040 669 882 040  669 882 040
                                          |
 Earnings per                             |
 share (EUR)            0.062        0.068|      0.069       0.066        0.088
                                          |
 Number of                                |
 passengers(3)      7 509 385    7 439 576|  9 755 720   9 457 522    8 976 226
                                          |
 Number of cargo                          |
 units(3)             286 672      266 951|    364 296     328 190      308 029
                                          |
 Average number                           |
 of employees(3)        7 496        7 445|      7 406       7 163        6 835
                                          |
                                          |
                                          |
 As at                                    |
                                          |
 Total assets                             |
 (million euros)      1 534.8      1 714.5|    1 558.6     1 539.0      1 538.8
                                          |
 Total                                    |
 liabilities                              |
 (million euros)        676.1        879.3|      722.3       729.1        718.0
                                          |
 Interest-bearing                         |
 liabilities                              |
 (million euros)        515.2        715.3|      560.9       558.9        549.3
                                          |
 Net debt                                 |
 (million euros)(                         |
 3)                     422.3        635.2|      472.0       480.1        467.3
                                          |
 Total equity                             |
 (million euros)        858.7        835.2|      836.3       809.9        820.7
                                          |
 Equity ratio                             |
 (%)(3)                 55.9%        48.7%|      53.7%       52.6%        53.6%
                                          |
 Number of shares                         |
 outstanding(2)   669 882 040  669 882 040|669 882 040 669 882 040  669 882 040
                                          |
 Shareholders'                            |
 equity per                               |
 share(3)                1.28         1.25|       1.25        1.21         1.23
                                          |
                                          |
                                          |
 Ratios                                   |
                                          |
 Gross margin                             |
 (%)(3)                 20.6%        21.3%|      20.1%       20.5%        23.6%
                                          |
 EBITDA margin                            |
 (%)(3)                 16.4%        17.6%|      16.4%       15.9%        19.2%
                                          |
 EBIT margin (%)         8.3%         8.8%|       7.4%        7.6%        10.9%
                                          |
 Net profit                               |
 margin (%)(3)           5.8%         6.2%|       4.8%        4.7%         6.3%
                                          |
 Return on assets                         |
 (ROA, %)(3)             4.2%         4.5%|       4.3%        4.6%         6.3%
                                          |
 Return on equity                         |
 (ROE, %)(3)             5.2%         6.1%|       5.6%        5.4%         7.4%
                                          |
 Return on                                |
 capital employed                         |
 (ROCE, %)(3)            5.3%         5.5%|       5.3%        5.6%         7.7%
                                          |
 Net debt to                              |
 EBITDA (times)(                          |
 3)                       2.9          4.0|        3.0         3.2          2.6
                                          |
 (
 1) During the reporting period 2017 the Group paid the former seafarers of
 Superfast vessels operating on the Finnish-German route compensation of 3 690
 thousand euros due to the inactivity of the former ship-owners. By analyzing
 the course of the proceedings, the Group concluded that it would have been
 correct to recognize the possible outcome of the legal dispute, which started
 in 2006, as a cost and a liability before the 2016 reporting period. Due to
 the above, the Group decided to recognize the compensation paid of 3 690
 thousand euros as a correction of a prior period error. The correction of the
 prior period error has no effect on the current and comparative period income
 statements.
 (2) Share numbers include own shares.
 (3 )Unaudited.

Reconciliations of certain alternative performance measures

                 As at and for the nine |
                    months ended 30     |   As at and for the year ended 31
                       September        |               December
                                        |
 (EUR in           2018         2017    |    2017         2016     2015
 thousand,                              |
 unless                                 |
 otherwise                              |
 indicated)           (unaudited)       |(audited,  unless otherwise indicated)
----------------------------------------+--------------------------------------
 Depreciation                           |
 of property,                           |
 plant, and                             |
 equipment           54 563       60 001|      80 224       72 262       72 750
                                        |
 Amortisation                           |
 of intangible                          |
 assets               4 397        4 544|       6 147        5 596        5 352
                                        |
 Depreciation                           |
 and                                    |
 amortisation        58 960       64 545|      86 371       77 858       78 102
                                        |
                                        |
                                        |
 Result from                            |
 operating                              |
 activities          59 830       64 941|      71 958       71 607      103 263
                                        |
 Depreciation                           |
 and                                    |
 amortization        58 960       64 545|      86 371       77 858       78 102
                                        |
 EBITDA             118 790      129 486|  158 329(1)   149 465(1)   181 365(1)
                                        |
                                        |
                                        |
 Additions to                           |
 property,                              |
 plant and                              |
 equipment           18 497      208 114|     214 334       65 783       40 738
                                        |
 Additions to                           |
 intangible                             |
 assets               1 932        3 996|       4 920        3 075        2 920
                                        |
 Capital                                |
 Expenditures        20 429      212 110|  219 254(1)    68 858(1)    43 658(1)
                                        |
                                        |
                                        |
 Net profit          41 809       45 426|      46 509       43 635       59 230
                                        |
 Weighted                               |
 average number                         |
 of shares                              |
 outstanding    669 882 040  669 882 040| 669 882 040  669 882 040  669 882 040
                                        |
 Earnings per                           |
 share                 0.06         0.07|        0.07         0.07         0.09
                                        |
                                        |
                                        |
 Liabilities                            |
 under finance                          |
 lease                  395          318|         287          373          298
                                        |
 Unsecured                              |
 bonds               95 061       95 379|      91 288       98 627       93 097
                                        |
 Overdraft                0       67 690|           -       40 110        3 397
                                        |
 Long-term bank                         |
 loans              419 776      551 934|     469 331      419 795      452 544
                                        |
 Interest-                              |
 bearing                                |
 liabilities        515 232      715 321|     560 906      558 905      549 336
                                        |
                                        |
                                        |
 Interest-                              |
 bearing                                |
 liabilities        515 232      715 321|     560 906      558 905      549 336
                                        |
 Cash and cash                          |
 equivalents         92 978       80 161|      88 911       78 773       81 976
                                        |
 Net debt           422 254      635 160|  471 995(1)   480 132(1)   467 360(1)
                                        |
                                        |
                                        |
 Total equity       858 705      835 174|     836 279      809 866      820 732
                                        |
 Total assets     1 534 787    1 714 505|   1 558 597    1 539 009    1 538 766
                                        |
 Equity ratio                           |
 (%)                  55.9%        48.7%|    53.7%(1)     52.6%(1)     53.3%(1)
                                        |
                                        |
                                        |
 Equity                                 |
 attributable                           |
 to equity                              |
 holders of the                         |
 Parent             858 705      835 174|     836 279      809 866      820 732
                                        |
 Number of                              |
 ordinary                               |
 shares                                 |
 outstanding    669 882 040  669 882 040| 669 882 040  669 882 040  669 882 040
                                        |
 Shareholders'                          |
 equity per                             |
 share                 1.28         1.25|        1.25         1.21         1.23
                                        |
                                        |
                                        |
 Result from                            |
 operating                              |
 activities 12-                         |
 months                                 |
 trailing            66 846       75 277|      71 958       71 607      103 263
                                        |
 Total assets                           |
 30 Sep.                                |
 (previous                              |
 period)          1 741 505    1 552 007|           -            -            -
                                        |
 Total assets                           |
 31 Dec.                                |
 (previous                              |
 period)          1 558 597    1 539 009|   1 539 009    1 538 766    1 685 598
                                        |
 Total assets                           |
 31 Mar.          1 531 619    1 730 199|1 730 199(1) 1 554 753(1) 1 674 525(1)
                                        |
 Total assets                           |
 30 June          1 554 542    1 739 028|1 739 028(1) 1 567 425(1) 1 665 454(1)
                                        |
 Total assets                           |
 30 Sep.          1 534 786    1 714 505|1 714 505(1) 1 552 007(1) 1 652 582(1)
                                        |
 Total assets                           |
 31 Dec.                  -            -|   1 558 597    1 539 009    1 538 766
                                        |
 Average of                             |
 assets           1 578 810    1 654 950|1 656 268(1) 1 550 392(1) 1 643 385(1)
                                        |
 Return on                              |
 assets (ROA,                           |
 %)                    4.2%         4.5%|     4.3%(1)      4.6%(1)      6.3%(1)
                                        |
                                        |
                                        |
 Net profit 12-                         |
 months                                 |
 trailing            42 878       48 939|      46 509       43 635       59 230
                                        |
 Total equity                           |
 30 Sep.                                |
 (previous                              |
 period)            835 174      807 469|           -            -            -
                                        |
 Total equity                           |
 31 Dec.                                |
 (previous                              |
 period)            836 278      809 866|     809 866      820 732      774 600
                                        |
 Total equity                           |
 31 Mar.            817 056      789 396|  789 396(1)   808 647(1)   761 248(1)
                                        |
 Total equity                           |
 30 June            812 701      787 374|  787 374(1)   804 013(1)   776 486(1)
                                        |
 Total equity                           |
 30 Sep.            858 705      835 174|  835 174(1)   807 469(1)   821 573(1)
                                        |
 Total equity                           |
 31 Dec.                  -            -|     836 278      809 866      820 732
                                        |
 Average of                             |
 equity             831 983      805 856|  811 618(1)   810 145(1)   790 928(1)
                                        |
 Return on                              |
 equity (ROE,                           |
 %)                    5.2%         6.1%|     5.7%(1)      5.4%(1)      7.5%(1)
                                        |
                                        |
                                        |
 Result from                            |
 operating                              |
 activities 12-                         |
 months                                 |
 trailing            66 846       75 277|      71 958       71 607      103 263
                                        |
 Total assets                           |
 30 Sep.                                |
 (previous                              |
 period)          1 741 505    1 552 007|           -            -            -
                                        |
 Total assets                           |
 31 Dec.                                |
 (previous                              |
 period)          1 558 597    1 539 009|   1 539 009    1 538 766    1 685 598
                                        |
 Total assets                           |
 31 Mar.          1 531 619    1 730 199|1 730 199(1) 1 554 753(1) 1 674 525(1)
                                        |
 Total assets                           |
 30 June          1 554 542    1 739 028|1 739 028(1) 1 567 425(1) 1 665 454(1)
                                        |
 Total assets                           |
 30 Sep.          1 534 786    1 714 505|1 714 505(1) 1 552 007(1) 1 652 582(1)
                                        |
 Total assets                           |
 31 Dec.                  -            -|   1 558 597    1 539 009    1 538 766
                                        |
 Current                                |
 liabilities                            |
 30 Sep.                                |
 (previous                              |
 period)            288 067      289 621|           -            -            -
                                        |
 Current                                |
 liabilities                            |
 31 Dec.                                |
 (previous                              |
 period)            316 663      243 991|     243 991      207 532      317 466
                                        |
 Current                                |
 liabilities                            |
 31 Mar.            327 805      299 899|  299 899(1)   290 829(1)   330 258(1)
                                        |
 Current                                |
 liabilities                            |
 30 June            367 624      355 025|  335 025(1)   327 095(1)   339 162(1)
                                        |
 Current                                |
 liabilities                            |
 30 Sep.            322 784      288 067|  288 067(1)   289 621(1)   307 947(1)
                                        |
 Current                                |
 liabilities                            |
 31 Dec.                  -            -|     316 663      243 991      207 532
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 30 Sep.                                |
 (previous                              |
 period)          1 426 438    1 262 386|           -            -            -
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 31 Dec.                                |
 (previous                              |
 period)          1 241 934    1 295 018|1 295 018(1) 1 331 234(1) 1 368 132(1)
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 31 Mar.          1 203 814    1 430 300|1 430 300(1) 1 263 924(1) 1 344 267(1)
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 30 June          1 186 919    1 404 003|1 404 003(1) 1 240 330(1) 1 326 292(1)
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 30 Sep.          1 212 002    1 426 438|1 426 438(1) 1 262 386(1) 1 344 635(1)
                                        |
 Total assets -                         |
 current                                |
 liabilities                            |
 31 Dec.                  -            -|1 241 934(1) 1 295 018(1) 1 331 234(1)
                                        |
 Average of                             |
 assets -                               |
 current                                |
 liabilities      1 254 222    1 363 629|1 359 539(1) 1 278 578(1) 1 342 912(1)
                                        |
 Return on                              |
 capital                                |
 employed                               |
 (ROCE, %)             5.3%         5.5%|     5.3%(1)      5.6%(1)      7.7%(1)
                                        |
                                        |
                                        |
 Net debt           422 254      635 160|  471 995(1)   480 132(1)   467 360(1)
                                        |
 EBITDA for the                         |
 year                     -            -|  158 329(1)   149 465(1)   181 365(1)
                                        |
 EBITDA, 9                              |
 months             118 790      129 486|           -            -            -
                                        |
 EBITDA,                                |
 previous year                          |
 Q4                  28 842       29 907|           -            -            -
                                        |
 12-months                              |
 trailing                               |
 EBITDA             147 635      159 393|  158 329(1)   149 465(1)   181 365(1)
                                        |
 Net debt to                            |
 EBITDA                 2.9          4.0|      3.0(1)       3.2(1)       2.6(1)
                                        |
 (
 1) Unaudited.

Other information

OP Corporate Bank plc is acting as the Finnish financial advisor and Swedbank AS
as  the Estonian financial advisor to the Company in connection with the listing
and  issuance of  FDRs. Ellex  Raidla Advokaadibüroo  OÜ is  acting as the legal
advisor for the Company in Estonia and Roschier, Attorneys Ltd. is acting as the
legal advisor to the Company in Finland.



Veiko Haavapuu
Financial Director

AS Tallink Grupp
Sadama 5/7
10111 Tallinn, Estonia
Tel. +372 640 9914
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=H8YpjWlQZ3xQm98FYJh2PCNWFxAhqL6jnr17
00FWpwV_C5wBLkpVZmuyGj26jD8qXIVF9Gbt-fvhRz-LqSXuvn-
Sgyt_Gq9ME5VeLJxy8bpHfkpbN8s0_exRZOonat0F)



DISCLAIMER

None  of the information  contained herein constitute  an offer to  sell, or the
solicitation  of an offer to  buy or acquire, any  shares, FDRs, rights or other
securities of AS Tallink Grupp in any jurisdiction whatsoever, including but not
limited  to, Finland, Estonia, and other  member states of the European Economic
Area. The information contained herein has been furnished solely for the purpose
of communicating about the potential listing of, and commencement of trading in,
the Company's shares in the form of FDRs at the main list of Nasdaq Helsinki.

The  information contained herein is not an  offer for sale of securities in the
United  States.  The  shares,  FDRs,  rights  or other securities of the Company
referred  to on this website have not been  and will not be registered under the
U.S.  Securities Act of 1933, as amended, and may  not be offered or sold in the
United  States absent registration or  an applicable exemption from registration
thereunder.

The  information contained herein is not intended  for, and must not be accessed
by, or distributed or disseminated to, persons resident or physically present in
the  United  States,  Australia,  Canada,  Hong  Kong, Japan, New Zealand, South
Africa  or Singapore, and do not constitute an offer to sell or the solicitation
of  an offer to buy or acquire, any  shares, FDRs, rights or other securities of
the  Company  in  the  United  States,  Australia, Canada, Hong Kong, Japan, New
Zealand,  South Africa,  Singapore or  any other  country in  which it  would be
contrary to the laws and regulations of that country.

None  of the information  contained herein constitute  an offer of securities in
the  United Kingdom. No  prospectus has been  or will be  approved in the United
Kingdom  in respect  of the  securities referred  to herein. This information is
only  being distributed to and  is only directed at  (i) persons who are outside
the  United Kingdom or  (ii) to investment  professionals falling within Article
19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order
2005 (the  "Order") or (iii) high net worth companies, and other persons to whom
it  may lawfully be communicated, falling within Article 49(2) of the Order (all
such  persons together being referred to  as "relevant persons"). Any investment
activity  to which this document relates will  be only available to, and will be
engaged  in only with, relevant persons. Any person who is not a relevant person
should not act or rely on this document or any of its contents.

This  release  includes  forward-looking  statements  within  the meaning of the
securities  laws  of  certain  applicable  jurisdictions.  These forward-looking
statements include, but are not limited to, all statements other than statements
of  historical facts contained in this release. By their nature, forward looking
statements  involve  known  and  unknown  risks, uncertainties and other factors
because  they relate to events  and depend on circumstances  that may or may not
occur  in the future.  Tallink cautions readers  that forward-looking statements
are  not guarantees of future performance  and are based on numerous assumptions
and  that its actual results of  operations, including their financial condition
and  liquidity and the development of the industries in which it and the members
of  its group operate,  may differ materially  from (and be  more negative than)
those made in, or suggested by, the forward-looking statements contained in this
release.