Comment from OEG: Armin Karu to continue as Chairman of the Management Board; Board may be expanded to three members

Posted on 11.12.2006

In the last few months, negotiations have been held with regard to involving a third member of the Management Board, but until now no contracts have been signed yet. The planned expansion of the Management Board has become necessary because of the large volume of work caused by the Company’s rapid development, for handling of which it would be efficient to add another member to the Management Board of OEG.

Armin Karu will definitely continue as Chairman of the Management Board of OEG; his key responsibilities are Group management and the implementation of the business strategy geared towards rapid expansion. Andri Avila, the second member of the Management Board, is responsible for financial management and investor relations. As planned, the key responsibility of the new, third member of the Management Board will be organization and development of the daily operations of companies that already belong to the group.

For additional information please contact:
Andri Avila
Chief Operating Officer / Member of Management Board
Olympic Entertainment Group AS
Phone + 372 667 1250

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