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AS Kalev Meedia to purchase channel Neljas

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On 17 October 2008, AS Kalev group companies AS Kalev Meedia and OÜ Eesti
Spordikanal (hereinafter Kalev Meedia) concluded a contract with the
telecommunications company Starman on the purchase of the TV channel Neljas. 

With the contract, the management of channel Neljas will be transferred to
Kalev Meedia. The channel, which is currently available only to Starman and
ZUUMtv customers, is scheduled to be switched also into other TV operator
networks after the entry into force of the transaction. The channel will retain
its current frequency on Starman networks and in the ZUUMtv package. 

According to Alar Pink, managing director of Kalev Meedia, the acquisition is
yet another step in the company's long-term strategy of strengthening its
position on the Estonian media market. „Specialising on entertainment, channel
Neljas is an excellent supplement to the other channel in our TV portfolio -
Kalev Sport, a channel focused mainly on news and sports. I am confident that
we will create synergy between the two channels to further improve the
programme,” Pink said. 

According to Henri Treude—marketing director of the owner of the channel, the
leading cable television service provider in Estonia, AS Starman—the television
viewers will benefit from the transaction the most, as Kalev Meedia will be a
good owner for the channel, setting long-term goals. 

Channel Neljas, which was launched in February this year, is an Estonian
language television channel which focuses on quality entertainment, TV series
and films. 
 
AS Kalev Meedia is an independent media group with the goal of developing
high-quality Internet, television and print media publications. AS Kalev Meedia
issues the Avenüü, Praktiline Arvutikasutaja, Ärielu, Sporditäht, Just, Basket,
Jalka and Muumi magazines, and manages the news portal www.kalev.ee. OÜ Eesti
Spordikanal owns the television channel Kalev Sport. 

Starman is the operator of the biggest cable network in Estonia, and renders
television, Internet and telephone services to over 135,000 digital and
analogue television customers. In addition to the cable network, Starman also
broadcasts via the digital terrestrial television ZUUMtv. Starman's shares are
listed on the main list of the Tallinn Stock Exchange. 

The transaction is not a related party transaction in the meaning of the
Tallinn Stock Exchange rules. 


Allan Viirma
Head of legal service
AS Kalev

Telephone: 688 6616