Stock exchange announcement 17.11.2010

Posted on 17.11.2010

As of 20 December 2010, the new member of the Management Board and Chief Financial Officer of Olympic Entertainment Group (OEG) will be Madis Jääger. In his new position he will also be responsible for managing the Group's investor relations. Kristi Ojakäär who presently is CFO and member of the Management Board of OEG is leaving the company.

Until he joins OEG as a member of the Management Board and CFO, Mr Jääger will continue working as senior auditor at AS PricewaterhouseCoopers (PwC). He has been employed by this reputable international auditing company since 2001 and has extensive experience in auditing several large enterprises including listed companies and subsidiaries of international business groups. Over the years he has also set up and managed the work of PwC audit teams. In addition, Mr. Jääger belongs to the expanded management team of the auditing department of PwC. Madis Jääger is 30 years old, he has a bachelor's degree in International Business Administration from the Estonian Business School, with specialization in accounting and finance, and is presently obtaining the master's degree in economics from the Tartu University.

According to Armin Karu, Chairman of the Supervisory Board of OEG, Madis Jääger is an experienced manager and a strong expert in the financial sector. "I am convinced that joining of Madis Jääger will strengthen the OEG team," commented Armin Karu, adding that financial management is a key strategic area for all large business organizations. "I would take this opportunity and thank Kristi Ojakäär for her professional work and energy that she devoted to the development of the Group. I respect her decision and sincerely wish her well," said Armin Karu.

Kristi Ojakäär who served as CFO of Olympic Entertainment Group for the last three and half years will be leaving the company. "The years that I worked in Olympic have been very intensed and busy, and given me an invaluable experience for the rest of my life," said Kristi Ojakäär, summarizing her nearly six years that she worked in OEG in different positions.

Olympic Entertainment Group is the largest provider of casino entertainment in the region, employing more than 2 000 people. OEG is a full member of the European Casino Association (ECA). Currently the group is operating casinos in Estonia, Latvia, Lithuania, Belarus, Romania, Poland and Slovakia. At the beginning of 2010 the Group also entered the online casino market, opened an online casino and online poker room The shares of OEG are listed for trading in the general index at the Tallinn and Warsaw Stock Exchanges. All casino operators belonging to the Olympic Entertainment Group are responsible enterprises that also inform their clients of the dangers associated with gambling.

Additional information:

Indrek Jürgenson
Olympic Entertainment Group
Tel + 372 667 1250

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