Due to relatively strong sales results in May and June Q Vara OÜ to recognized VAT liability of 3 844 597 EEK. At the same time the Company's projects' financing need was also relatively high as a result of which Q Vara OÜ's short-term liquidity decreased. To improve the short-term liquidity Q Vara OÜ filed an application to Estonian Tax and Customs Board on July 11, 2007 to pay the tax liability in two parts by the end of August 2007. Estonian Tax and Customs Board approved the application on July 12, 2007. Q Vara OÜ releases its half year financial results on July 31, 2007. Additional information: Andre Poopuu Juhatuse liige Q Vara OÜ Tel: 668 1600