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Hereby Arco Vara AS publishes the audited annual report for 2011 as amended in accordance with the instructions of the Financial Supervision Authority of May 8, 2012. The amendments concern only the management’s declaration and there are no other amendments made to the annual report compared to the previously published version.

The audited annual report for 2011 is available on the website of the NASDAQ OMX Tallinn Stock Exchange and on that of Arco Vara at

Egert Paulberg
Financial Controller
Arco Vara AS
Tel: +372 614 4503
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AVG AR 2011 ENG.pdf