AS Kalev                Stock Exchange Release               7.12.2005



New Supervisory Board member appointed for subsidiary



Marko Kaha was elected member of the Supervisory Board of AS Kalev 

Real Estate Company (AS Kalev REC) by the company’s sole shareholder 

AS Kalev with its resolution of 5 December 2005.



The new Supervisory Board member was appointed to replace Kristel Soll, 

victim of a tragic accident.



Marko Kaha’s professional record for the last three years:



Marko Kaha has served as the Financial Director of Skanska EMV AS since 

December 1999. Marko Kaha does not hold any shares in AS Kalev.





Ruth Roht

PR manager

+372 6 077 858