Arco Vara AS informs the change in the qualifying holding of share capital. The Financial Supervision Authority notified Arco Vara that Mr. Toomas Tool exceeded 10% shareholding in Arco Vara AS. As of 11.07.2008 he owned through private accounts and through his company Freier Projekt OÜ 11,225% of Arco Vara AS shares. The ownership corresponds to 10 695 646 shares. Arco Vara AS has no latest information on the holding. Arco Vara is a leading real estate developer in the Baltic's, undergoing a SEE expansion with presence established already in Ukraine, Bulgaria and Romania. Core business is real estate development supported by brokerage network and construction arm. The company has offices in 29 cities and employs over 600 people. According to 2007 audited consolidated results net sales was 727 mln kroons (46 mln euros), net profit before minorities 235 mln kroons (15 mln euros) and assets 3 564 mln kroons (228 mln euros). Arco Vara is listed on Tallinn Stock Exchange. 1 EUR=15,6466 EEK Heigo Metsoja IRO +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com