Announcements

Olympic Entertainment Group to make several changes in its management structure

Posted on 17.07.2008

Andri Avila, current member of the Management Board, will continue as the Chairman in the one-member Management Board. The changes to be made in the Supervisory Board will need approval from the extraordinary general meeting of shareholders that will take place on 14 August.

Changes made in the management structure of the Group will create a clearer division in the areas of responsibility between key members of the management. Under Armin Karu, the Supervisory Board will become notably more active in leading and directing the development strategy of the Group. “We decided to simplify management of the Group so that the Supervisory Board will focus on implementing our expansion plans and the Management Board will focus on managing the Group’s operations,” said Armin Karu, current Chairman of the Management Board of OEG, in comment to the structural changes. “In essence, the current work arrangement where I was responsible for the expansion strategy will remain in place, but in the new structure we will separate it from operational management,” added Karu.

Andri Avila, Chairman of the Management Board, will continue with the successful day-to-day management of the Group. Tarmo Kase who until now was the current Managing Director of Olympic Casino Eesti has been working as Head of Casino Operations on the Group level – the position that did not exist before - already from 1 May. Under the new structure, Andri Avila will directly supervise over 10 divisional heads whose average length of employment in executive positions in OEG is more than five years. “We have an excellent team that has been involved in the whole rapid expansion of recent years and successfully managed the quickly growing organization,” emphasized Avila the experience and high motivation of the Group management.

Current members of the Supervisory Board of OEG - Jaan Korpusov, Liina Linsi, Peep Vain and Anders Galfvensjö – will continue in the new Supervisory Board in addition to Armin Karu and Mart Relve. Kaia Karu, current member of the Supervisory Board of OEG, will leave the Supervisory Board after the general meeting of shareholders to be held in August.

Additional information:
Andri Avila
Member of the Management Board
Olympic Entertainment Group
Tel + 372 667 1250
E-mail: andri.avila@oc.eu
www.olympic-casino.com

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