The management board of AS JÄRVEVANA hereby calls the annual general meeting of shareholders of AS JÄRVEVANA, having its seat at Järvevana tee 9G, Tallinn, 11314. The general meeting will be held on Monday 1 June 2009 at 13.00 in the Arcturus conference hall of the Nordic Hotel Forum hotel (Viru väljak 3, Tallinn). The set of shareholders entitled to take part in the general meeting will be determined as at 23.59 on 22 May 2009. Registration for the general meeting will start at 12.30 on 1 June 2009. The agenda of the general meeting: 1. Approval of the 2008 Annual Report The supervisory board proposes to approve the 2008 Annual Report of AS JÄRVEVANA. 2. Deciding on the distribution of profits The supervisory board proposes to approve the net profit for the financial year 2008 totalling 335.5 million kroons and after demerger retained profit totalling 39.7 million kroons and not to distribute the profit among the shareholders. 3. Approval of the auditor for the financial year 2009 The supervisory board proposes to approve AS PricewaterhouseCoopers as the auditor of AS JÄRVEVANA for the financial year 2009 and to pay them for the service pursuant to the contract. On registration, shareholders as legal entities are requested to submit an extract from a relevant (commercial) register, with whom the legal entity has been registered (Estonian legal entities are requested to submit a copy of the registry card B, which may not be older than 15 days), which sets out a person's right to represent the shareholder (at law) along with the person's identification document; other representatives shall submit proper authorisation letters (granted by transaction) along with an identification document of the representative. Shareholders as natural persons are requested to submit a passport or identity card; their representatives are requested to submit additionally proper authorisation letters. The documents of a foreign legal entity (except authorisation letter) shall be legalised or apostilled by the Ministry of Foreign Affairs or a foreign mission of the Republic of Estonia. The annual report 2008 will be available for examination at NASDAQ OMX Tallinn webpage (http://www.nasdaqomxbaltic.com/) and at the seat of AS JÄRVEVANA situated at Järvevana tee 9G, Tallinn, on workdays from 8.00 to 17.00. Questions concerning the items on the agenda can be asked by an email to merko@merko.ee. 1 EUR = 15,6466 EEK Toomas Annus Member of Board +372 6 805 400 toomas.annus@merko.ee