Resolutions of the Annual General Meeting of the

The Annual General Meeting of the Shareholders of the Company was held on
Tuesday, 19th of May 2009 from 09.00-10.00 a.m. at the Radisson SAS Hotel. 16
441 500 votes, i.e. 82,21% of the Company`s 20 million votes were represented
at the meeting. 

AGENDA:

Representative of the City of Tallinn, Jaanus Mutli proposed to remove item no
2 from the agenda and to postpone the voting. 
As a result, the chairman of the meeting Raino Paron proposed to vote on the
following: to amend the agenda of the Annual General Meeting and not to discuss
item no 2 (profit distribution). 

RESOLUTION: With 9 482 382, i.e. 57,67% votes against the motion was not
upheld. 

1	 Approval of the Annual Report

Supervisory Council proposal: To approve the 2008 Annual Report.

RESOLUTION: With 16 437 615, i.e. 99,98% votes in favour to approve the 2008
Annual Report. 

2	Distribution of profits

Supervisory Council proposal: To distribute AS Tallinna Vesi's net profit of
295,967,781 kroons (EUR 18 915 789) for the year 2008 as follows: 
         1) Transfers to reserve capital - 0 kroons
         2) The share of profit to be distributed among the shareholders -
            230.010 000 kroons (14 700 318 euros), of which 11,50 kroons (0,73
euros per share to the owners of A-shares and 10.000 kroons (639 euros) to the
owner of the B-share; 
         3) The share of profit to be left undistributed - 65 957 781 kroons (4
215 471 euros). 
         4) The list of shareholders entitled to receive dividend shall be
determined on the basis of the share register as at 23:59 on 01 June 2009 and
the dividends shall be paid to shareholders on 12 June 2009. 

RESOLUTION: With 9 498 485, i.e. 57,77% votes in favor, to approve the profit
distribution proposal without transfers to reserve capital, to distribute 230
010 000 kroons (14 700 318 euros) between the shareholders, of which 11,50
kroons (0,73 euros) per share will be paid to the owners of A-sares and 10
kroons (639 euros) per share to the owner of the B-share. To determine the list
of shareholders entitled to received dividend on the basis of the share ledger
as at 23:59 on 01 June 2009 and to pay the dividends to the shareholders on 12
June 2009. 

3	Appointment of the auditor

Supervisory Council evaluation of auditors work and proposal: Aktsiaselts
PricewaterhouseCoopers has provided auditing services for AS Tallinna Vesi
during the financial year 2008 pursuant to the agreement concluded between
Aktsiaselts PricewaterhouseCoopers and AS Tallinna Vesi in 2008. In the opinion
of the Supervisory Council, Aktsiaselts PricewaterhouseCoopers has provided
services in compliance with the agreement and the Supervisory Council does not
have complaints in respect to the quality of the auditing services. 
To appoint Aktsiaselts PricewaterhouseCoopers as the auditor and Tiit Raimla as
the lead auditor for the 2009 financial year and to approve the principles for
remuneration of the auditors approved by the Supervisory Council. 

RESOLUTION: To acknowledge the Supervisory Council's evaluation and with 16 436
610, i.e. 99,97% votes in favour to appoint Aktsiaselts PricewaterhouseCoopers
as the auditor and Tiit Raimla as the lead auditor for the 2009 financial year
and to approve the principles for remuneration of the auditors approved by the
Supervisory Council. 

Priit Koff
Head of Communications
Tel 62 62 209
priit.koff@tvesi.ee
Resolutions of the Annual General Meeting of the shareholders of AS Tallinna Vesi
