Tallinna Vesi: The Minister of Economy and Communications has replied to AS Tallinna Vesi's enquiry into the conduct of the Head of the Competition Authority

On December 18^{th AS Tallinna Vesi received a response from the Minister of Economy and Communications regarding AS Tallinna Vesi's query, dated Septermber 10th 2012. AS Tallinna Vesi asked the Minister to conduct a public enquiry into the conduct of the Head of the Competition Authority and his treatment of AS Tallinna Vesi's privatisation contract compared to the tariff setting methodologies applied by the Head of the Competition Authority in Kunda. The Ministry has now completed its investigation into the conduct of the Head of the Competition Authority and the minister confirmed that the Competition Authority and the Head of the Competition Authority have treated tariff applicants uniformly by applying common price regulation principles, including when tariff setting in Kunda and have not breached the principle of equal treatment in respect of tariff setting for AS Tallinna Vesi. The Minister's Directive has been attached to current notice.}

In addition to this Directive the Minister has sent a detailed summary regarding how these conclusions were reached. AS Tallinna Vesi will now make a thorough analysis of the Minister's response letter and summary explanations and will make a more detailed Stock Exchange announcement on this matter during the first week of 2013. Furthermore, should AS Tallinna Vesi find anything in this analysis that is clearly incorrect then, in accordance with the instructions of the Minister himself, the company will file a complaint to the Tallinn Administrative Court by January 17th 2013.

Ian Plenderleith

Chairman of the Management Board

Mariliis Mia Topp Head of Communications AS Tallinna Vesi 62 62 275

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