AS Kalev               Stock Exchange Release              22.12.2005



Transfer of a registered immovable



On 20 December 2005, AS Kalev Real Estate Company (Kalev REC) transferred 

the registered immovable located at Pärnu mnt 139E/2 – i.e. the so-called 

Tere building – at the development project price of 39.4 million kroons, 

plus VAT. The gross profit to be earned from the transaction amounts to an 

estimated 26 million kroons. The company previously planned to realise the 

profit in a longer period of time – i.e. during the calendar year 2006.



The transaction does not constitute a transaction with a related party.



Kalev REC is a subsidiary of AS Kalev. The company’s main activities include 

real estate development and management. Kalev REC is currently actively 

involved in the public real estate market, and has launched development 

operations in both the housing and the commercial space sector.





Ruth Roht

PR manager

+372 6 077 858