Announcements

Olympic Entertainment Group wishes to become a listed company

Posted on 02.10.2006


In the course of the initial public offering of shares of Olympic Entertainment Group the company is going to offer a total of 14 million ordinary shares and, in addition, up to 1.4 mln ordinary shares to cover a possible oversubscription.

The price range for subscribing to shares is between EUR 4,026 and 4,793 per share (EEK 63 and 75). Retail and institutional investors in Estonia, Latvia and Lithuania can subscribe the shares. The subscription period will begin on Monday, October 2nd at 9 am and end on Tuesday, October 17th at 4 pm.

Provided that the number of shares on offer does not change and the shares allocated for a possible oversubscription is fully used the shares offered in the course of IPO make up around 20.4 percent of the share capital of Olympic Entertainment Group. Depending on the final number of shares in issue and final share price, the total value of the company on the first day of listing would be between EUR 298 million and EUR 361 million.

Armin Karu, Chairman of the Management Board of Olympic Entertainment Group, said that the company decided to list itself in order to secure the ongoing expansion on the East and Central European markets. “Today we are the largest casino entertainment group in the Baltic states and are tasting the first fruits also in Ukraine and Belarus,” said Mr. Karu. „However, we are more ambitious and in the near future plan to strongly expand, mainly in Central Europe.” As the first new casino market for entering of which the company has already signed a preliminary agreement, Mr. Karu mentioned Poland.

The company’s Chairman mentioned that the second important reason for listing its shares on the bourse is the wish to show that casino business can be managed in a public, transparent and legitimate manner. “We hope that the listing will contribute to improving the general image of the casino industry,” he added. “The casino business that is developed by observing all legal norms and moral principles is a form of spending leisure time as any other. I hope that the expansion of our shareholder base and the status of a listed company will bring about a change in the overall attitude.”

By current plans the final price of IPO will be determined and published on October 18th. Trading with the shares of Olympic Entertainment Group shares on the Tallinn Stock Exchange is expected to start on October 23rd. The lead manager of the IPO is Hansapank and the co-manager is GILD Bankers (AS LHV Financial Advisory Services).

Listing of its shares on the Tallinn Stock Exchange will make Olympic Entertainment Group the first casino enterprise on the Baltic and East European bourses. This will also create better conditions for the company to list its shares on a stock exchange of any other European Union member states in the future.

Olympic Entertainment Group is the leading casino entertainment group in the Baltic states with a total of 73 casinos in Estonia, Latvia, Lithuania, Ukraine and Belarus. The group employs more than 2,000 people. The work procedures of the group’s Baltic subsidiaries are certified according to the international ISO 9001 quality requirements. Olympic Casino is the full member of the European Casino Association.

Full English text of the Prospectus of Olympic Entertainment Group and the IPO is available on the website of the Financial Supervisory Authority www.fi.ee. Summary of the Prospectus in English and additional information on possibilities to subscribe shares is available at www.olympic-casino.com/IPO.

Additional information:

Armin Karu
Chairman of the Management Board, Olympic Entertainment Group
Phone + 372 667 1250
E-mail armin.karu@ocg.ee
www.olymic-casino.com/IPO

Andri Avila
Head of Casino Operations
Olympic Entertainment Group
Phone + 372 667 1250
E-mail andri.avila@ocg.ee
www.olympic-casino.com/IPO

Lauri Lind
Head of Equity Markets Department
AS Hansapank (lead manager)
Phone +372 6 131 355
E-mail lauri.lind@hansa.ee
investor.hanza.net

Heikki Källu
Partner
GILD Bankers (AS LHV Financial Advisory Services, co-manager)
Phone +372 6 800 416
E-mail heikki.kallu@gildbankers.com
www.lhv.ee

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