OREANDA-NEWS. December 09, 2009. Extraordinary General Meeting of the shareholders of AS Eesti Telekom decided, reported the press-centre of Eesti Telekom:

1. Approval of the takeover of shares

To approve, in accordance with § 1821 of the Securities Market Act, the takeover by TeliaSonera AB of the shares of AS Eesti Telekom held by the remaining shareholders (except Baltic Tele AB) (hereinafter “Minority Shareholders”) on the following terms:

1. The fair compensation payable to the Minority Shareholders shall be EEK 93.00 per each share that is subject to the takeover.

2. The compensation in the amount set out in Section 1 above has been determined on the assumption that the shares subject to takeover are not encumbered by pledge or other rights of third parties.

3. The transfer of shares subject to takeover from the Minority Shareholders to TeliaSonera and the payment of compensation to Minority Shareholders shall be arranged by the registrar of the Estonian Central Register of Securities (hereinafter “ECRS”) on the basis of the application of the Management Board of AS Eesti Telekom. This application shall be submitted by the Management Board to the ECRS after the passage of one month as of the adoption of this resolution. The compensation shall be payable to the Minority Shareholders simultaneously with the transfer of shares subject to takeover to TeliaSonera.

2. Amendment of the Articles of Association

To amend the Articles of Association of AS Eesti Telekom as follows:

To amend the first sentence of article 5.3.1. and formulate it as follows: “The Supervisory Council consists of five (5) to ten (10) members.”