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DIVISION OF TALLINNA KAUBAMAJA AS AND SUBSIDIARIES OF TALLINNA KAUBAMAJA AS

TALLINN, October 1, www.nasdaqomxbaltic.com - Today, on 1 October 2012, the Registry Department of Harju County Court registered the division of TALLINNA KAUBAMAJA AKTSIASELTS.

Today, on 1 October 2012, the Registry Department of Harju County Court registered the division of TALLINNA KAUBAMAJA AKTSIASELTS. According to the division agreement signed on 16.07.2012 TALLINNA KAUBAMAJA AKTSIASELTS transferred upon distribution its Tallinn and Tartu department store business to the recipient company, which is Kaubamaja AS (registry code 12305124). Kaubamaja AS is a 100% subsidiary of TALLINNA KAUBAMAJA AS. A division resolution is adopted by the shareholders of the companies participating in the division on 21.08.2012.a. The share capital of the company being divided does not change.

Today, on 1 October 2012 the Registry Department of Harju County Court registered division of the subsidiary of TALLINNA KAUBAMAJA AKTSIASELTS, Selver AS. According to the division agreement signed on 16.07.2012 Selver AS transferred upon distribution its central kitchen related business the recipient company, Kulinaaria OÜ (registry code 12304610). Kulinaaria OÜ is a 100% subsidiary of Selver AS. A division resolution is adopted by the shareholders of the companies participating in the division on 21.08.2012.a. The share capital of the company being divided does not change.

Today, on 1 October 2012, the Registry Departments of Harju and Tartu County Court registered also the division of the subsidiary of TALLINN KAUBAMAJA AKTSIASELTS, Tartu Kaubamaja AS. According to the division agreement signed on 16.07.2012 Tartu Kaubamaja AS transferred upon distribution its security related business to the recipient company, which is Topsec Turvateenused OÜ (registry code 12304751). Topsec Turvateenused OÜ is a 100% subsidiary of TALLINNA KAUBAMAJA AKTSIASELTS. A division resolution is adopted by the shareholders of the companies participating in the division on 21.08.2012.a. The share capital of the company being divided does not change.

The divisions were intended for the purpose of improving the structure and making the administration of the group of Tallinna Kaubamaja Aktsiaselts more transparent. The transaction was advised by PwC Legal.

Raul Puusepp
Chairman of the board