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2009


According to § 135 section 4 of the Securities Market Act of Estonia we hereby inform that Arco Vara AS has released the following information through the NASDAQ OMX Tallinn information system during 2008:

11.01.2008 Arco Vara expands its activities in Romania
08.02.2008 Veiko Taevere becomes member of the board of Arco Vara
13.02.2008 Arco Vara concluded a construction contract in Bulgaria
14.02.2008 Change in the accounting of majority shareholders
20.02.2008 Loan agreement
27.02.2008 Pre-agreement for the development of shopping centre in Ukraine
29.02.2008 Unaudited interim report 12 months 2007
06.03.2008 Apartment sales block deal in Sofia
02.04.2008 Arco Vara acquires 55% stake in small construction company Tempera Ehitus
03.04.2008 Arco Vara changed stakes in its subsidiaries
04.04.2008 Construction contracts
15.04.2008 Announcement of Arco Vara AS' shareholders general meeting
18.04.2008 Tallinn City Council approved the zoning for “Tivoli” project
18.04.2008 Arco Vara sold retail facilities in Kuressaare in Estonia
21.04.2008 CORRECTION: Announcement of Arco Vara AS' shareholders general meeting
14.05.2008 Decisions of annual general meeting of shareholders
26.05.2008 Tallinn municipality approved the zoning for Laeva 2 project
28.05.2008 Riga District's Garkalne County approved the zoning in Latvia in MB-3 project
29.05.2008 Arco Vara AS Interim report 2008 Q1
20.06.2008 Arco Vara sold its shareholding in AVEC Asset Management AS to East Capital
25.06.2008 Arco Vara receives five hectars of residential land in Tallinn in Merivälja district
08.07.2008 Change in the qualifying holding
09.07.2008 Share buyback program
14.07.2008 Arco issued commercial papers
18.07.2008 Information released by Arco Vara AS
18.07.2008 Share buyback transactions
25.07.2008 Share buyback transactions
30.07.2008 Change in the qualifying holding
01.08.2008 Share buyback transactions
07.08.2008 Share buyback transactions
12.08.2008 Court case in Tivoli project in Tallinn, Estonia
12.08.2008 Change in the qualifying holding
19.08.2008 Debt refinancing in Sofia in project „Madrid“
19.08.2008 Change in the qualifying holding
22.08.2008 CORRECTION: Change in the qualifying holding
26.08.2008 Lembit Tampere is the new CEO of Arco Vara
28.08.2008 Additional information on Supervisory Board Member Mr. Ragnar Meitern
29.08.2008 Unaudited results for the 6 months and Q2 of 2008
02.09.2008 Change in the qualifying holding
04.09.2008 Arco Vara signed construction contract in development project “Manastirski” in Sofia
18.09.2008 Change in Arco Vara AS management
22.09.2008 Change in the qualifying holding
01.10.2008 Refinancing of short-term debt
03.10.2008 Arco canceled shopping centre deal in Simferopol in Ukraine
07.10.2008 Share buyback program
23.10.2008 Arco Vara major shareholders repurchase agreements
27.10.2008 Change in the qualifying holding
28.10.2008 INVITATION AND AGENDA OF THE SPECIAL GENERAL MEETING OF SHAREHOLDERS
AND PROPOSALS MADE AT THE MEETING
03.11.2008 Refinancing of long-term debt
06.11.2008 Decision of special general meeting of shareholders
11.11.2008 Cancelling of current share buyback program
11.11.2008 Additional information on cancelling current share buyback program
17.11.2008 Construction agreement
28.11.2008 III QUARTER AND 9 MONTHS CONSOLIDATED INTERIM REPORT (UNAUDITED)
04.12.2008 Conclusion of agreement for the transfer of shares
05.12.2008 Conclusion of agreement for the transfer of shares
08.12.2008 Construction agreement
22.12.2008 Refinancing of short-term debt
23.12.2008 CORRECTION: Construction agreement
29.12.2008 Refinancing of long-term debt

Up to the present date in 2009, Arco Vara AS has released the following information through NASDAQ OMX Tallinn information system:

22.01.2009 Arco Vara facility management expanded its business to Bulgaria
22.01.2009 Conclusion of agreement for the transfer of shares
27.02.2009 Delay in 12 month unaudited report release
03.03.2009 Fair value decreases and initial unaudited key figures of Arco Vara AS for 2008
09.03.2009 Transaction with related party
13.03.2009 IV QUARTER AND 12 MONTHS CONSOLIDATED INTERIM REPORT (UNAUDITED)
17.03.2009 Arco Vara filed action against AS Ühendatud Kapital
25.03.2009 Subsidiary of Arco Vara signed a long-term lease contract with Austrian supermarket chain
31.03.2009 Arco Vara obtained building and navying permits for Merivälja2
15.04.2009 Arco Investeeringute AS and Arco Vara Kinnistute AS merged
22.04.2009 Arco Vara AS audited annual report 2008
29.04.2009 INVITATION AND AGENDA OF THE GENERAL MEETING OF SHAREHOLDERS AND
PROPOSALS MADE AT THE MEETING
06.05.2009 Court annulled the detailed plan of the project Tivoli
21.05.2009 Refinancing of Estonian Kroon nominated loans to Euro loans
21.05.2009 Refinancing of “Bišumuiža 1” and “Kodukolde” project loans
22.05.2009 INVITATION AND AGENDA OF THE NEW GENERAL MEETING OF SHAREHOLDERS AND
PROPOSALS MADE
22.05.2009 „Arco Vara Group increased its shareholding in development project „Bišumuiža 2” in Latvia
29.05.2009 FIRST QUARTER AND THREE MONTHS 2009 CONDENSED CONSOLIDATED INTERIM
FINANCIAL STATEMENTS (UNAUDITED)


All the above listed announcements are available on the website of NASDAQ OMX Tallinn at:
http://www.nasdaqomxbaltic.com/market/?instrument=EE3100034653&list=2&currency=EEK&pg=details&tab=news
by selecting the respective start and end dates of the period in the search engine and on the corporate website of Arco Vara AS: http://www.arcorealestate.com

Arco Vara AS


The new annual general meeting of shareholders of Arco Vara AS was held today, on 4 June 2009 at Reval Hotel Central, Narva mnt 7c, in Tallinn.

The new annual general meeting of shareholders of Arco Vara AS started at 9.10 a.m. and ended at 9.45 a.m. and it was competent to pass decisions regarding the items on the agenda. The agenda of the annual general meeting of
shareholders of Arco Vara AS was published in the newspaper Postimees on 29 April 2009 and on 23 May 2009, in the information system of the Tallinn Stock Exchange and on the website of Arco Vara AS http://www.arcorealestate.com.

The following decisions were passed at the annual general meeting of shareholders of Arco Vara AS:

1. To approve the year 2008 annual report of Arco Vara AS;

2. To allocate loss of the financial year that ended 31 December 2008 in the amount of 984 668 000 Estonian kroons (62 931 755 euros) as follows:
a) From the account of issue premium in the amount of 712 514 000 Estonian kroons (45 537 944 euros);
b) Rest of the loss in the amount of 272 154 000 Estonian kroons (17 393 811 euros) will be covered from the future profits.

3. To appoint 1 auditor for one year (until the next annual general meeting of shareholders) and to appoint Ernst & Young Baltic AS as auditor and to pay to the auditor the fees for the auditing of 2009 financial results according to the agreement to be signed between Arco Vara AS and Ernst & young Baltic AS.

The new annual general meeting of shareholders of Arco Vara AS was held according to law and Statute of Arco Vara AS.

Arco Vara AS


Arco Vara AS redeemed commercial papers in value of 26.2 mln kroons (1.7 mln euros).

The rest of the balance in value of 26.2 mln kroons (1.7 mln euros) was prolonged against extra collaterals until 31.05.2010 with an annual interest´rate of 16%.

1 EUR=15.6466 EEK

Additional information:
Heigo Metsoja
CFO
+372 6144 654
This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.arcorealestate.com


Arco Investeeringute AS, a 100 per cent subsidiary of Arco Vara AS, increased its shareholding in Arco Development SIA from 80 per cent to 99.99 per cent. It was a non-cash transaction because Arco Vara converted some of its subordinated loans to equity. 0.01 per cent of the shares belongs to Mr. Viktors Savins.

Arco Vara is one of the leading real estate developer in the Baltic's, operating also in Ukraine and Bulgaria. Core business is real estate development supported by brokerage network, construction arm and property management. The company has offices in 17 cities and employs ca 250 people.
Arco Vara AS is listed on Tallinn Stock Exchange.

Heigo Metsoja
CFO
Arco Vara AS
phone: +372 614 4654
This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.arcorealestate.com


INVITATION AND AGENDA OF THE SPECIAL GENERAL MEETING OF SHAREHOLDERS AND
PROPOSALS MADE AT THE MEETING AND EXPLANATION

Dear Shareholder of Arco Vara AS,

Arco Vara AS (registry code 10261718; located at Tallinn, Jõe 2B) shareholders special general meeting will take place on August 27th 2009 at 9:00AM in
Tallinn, Narva str. 7C, at the Reval Hotel Central room Studio III.

The agenda of the general meeting:
1. Amendment of the article of association
The Supervisory Board hereby makes the shareholders the proposal to amend clause 4.1. in the article of association as following “The Management Board of
the Company consists of 1 (one) to 5 (five) members elected for three years. Repeated electing of the Members of the Management Board is allowed.“ In
conjunction with the amendments in current clause the new wording of article of association should be adopted.

Materials of shareholders special general meeting of Arco Vara AS are available through internet website of Arco Vara
http://www.arcorealestate.com/en/investor-info or at the office of Arco Vara AS in Tallinn, at Jõe street 2B, on workdays from 9:00AM till 5:00PM.
Questions about the items on the agenda can be sent by e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it.. All questions and answers will be made public on the Internet website of Arco Vara AS.

The list of shareholders entitled to participate at the annual general meeting shall be determined at 11:59PM on day immediately prior to the meeting.
Registering to participate in the meeting will convene at 8:30AM on August 27th 2009.

To register, we kindly ask shareholders to present an ID document and the representative of the shareholder additionally to present also a signed Power
of Attorney or documents validating representation.

Explanation
In order to adapt the management structure of Arco Vara AS to the decrease in the group's business volume and save expenses, the management structure of the
company should be changed and the number of members of the parent company's Management Board reduced. Upon approval of the respective amendments in the Articles of Association by the general meeting, two members of the Management Board, Heigo Metsoja and Veiko Taevere, will be considered recalled. Both of
them will continue working at Arco Vara Group.

Kind regards,

Lembit Tampere
CEO
Arco Vara AS
phone: +372 614 4630
This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.arcorealestate.com/


The division of Arco Vara Puukool OÜ, a 100% subsidiary of Arco Vara, by separation entered into force on 18 August. This transaction separated the principal business of Arco Vara from its ancillary activities, i.e. property development from production of forestry plants. The newly separated entity, Arco Vara Ärikinnistute OÜ, being a 100% subsidiary of Arco Vara was filed with the commercial registry. Arco Vara Ärikinnistute OÜ owns in the city of Tartu one-half of the property situated in Tartu at Turu 34a.

Arco Vara is one of the leading real estate developer in the Baltic's, operating also in Ukraine and Bulgaria. Core business is real estate development supported by brokerage network, construction arm and property management. The company has offices in 17 cities and employs ca 250 people. 
Arco Vara AS is listed on Tallinn Stock Exchange.

Heigo Metsoja
CFO
Arco Vara AS
phone: +372 614 4654
This email address is being protected from spambots. You need JavaScript enabled to view it.
http://www.arcorealestate.com