The special general meeting of shareholders of Arco Vara AS was held on 06 November 2008 at 4 p.m. The decision of the meeting was as follows: To partially amend the resolution adopted at the annual general meeting held on 13.05.2008, which granted Arco Vara AS the right to acquire its own shares, and proposes to establish 1/10 of the nominal value of a share as the minimum amount payable for one share instead of the current minimum amount of 1/2 of the nominal value of a share. The resolution of the general meeting will remain unamended in all other respects. Heigo Metsoja CFO / Member of the Management Board +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com