Akciju sabiedriba "VEF"

Major Shareholding Notification • Dec 5, 2012

Annex 1 to the Regulations No.78 of the Financial and Capital Market Commission of 25 May 2007

Standard Form for Notification of the Acquisition or Disposal of a Qualifying Holding

1. Name of the issuer of voting shares or depositary certificate	AS VEF"
2. Reason for the notification (please tick the appropriate box)
- directly acquired voting shares
- directly disposed voting shares		X
- indirectly acquired voting rights attached to shares
- acquisition/disposal of indirectly acquired voting rights attached to shares
- directly or indirectly acquired or disposed financial instruments that may result in the acquisition of shares already issued by the issuer whose shares are admitted to the trading on the regulated market
- other event changing the breakdown of voting nghts
3. Full name of a person subject to the notification obligation		Valsts sociālās apdrošināšanas agentūra
4. Full name of a sharcholder (if different from referred to in paragraph 3)-
5. Date on which the voting shares threshold was reached, exceeded or fell below as set down in Article 61 (1) and (2) of the Law on the Financial Instruments Market	30.11.2012
6. Percentage of voting shares that have reached, exceeded or fell below the threshold	5% - X	30% -
as set down in Article 61 (1) and (2) of the	10% -	50% -
Law on the Financial Instruments Market.	15% -	75% -
(please tick the appropriate)	20% -	90% -
	25% -	95%4

Full name of following persons: (a) shareholder. (b) person that acquires or acts with the voting rights refered to in paragraphs (2) to (8) of Article 8 of the Law on the Financial Instruments Market, (c) all persons that have entered into an agreement referred to in paragraph 1 of Article 8 of the Law on the Financial Instruments Market: (d) person that holds the financial instrument giving the voting shares already issued by the issuer.

² This requirement applies to the cases referred to in paragraphs (2) to (8) of 8 of the Law on the Financial Instruments Market. Full name of shareholder that is a counterparty of the person referred to in Article 8 of the Law on Financial Market Instruments.

Related to cases when the Republic of Latvia is the home member state of the issuer.

⁴ Related to cases when the Republic of Latvia is the home member state of the issuer.

7. Details of notification

A. Voting shares
Category/type of shares (use ISIN Code if it is		Situation prior to the triggering transaction		Resulting situation after the triggering transaction
assigned)	Number of shares	Number of voling	Number of voling Number of shares shares			% of voling capital
	shares	Direct holding	Direct holding	Indirect holding	Direct holding	Indirect holding
I.V000010101079	97582	97035	97035	97035 28	0	4 90	0
Subtotal A (based on total voling rights)				97035			4.99

	Resulting situation after the triggering transaction
Type of financial instrument	Expiration date of the right attached to financial instruments to acquire voting shares	Exercise/Conversion period/Date	Number of voting rights that may be acquired if the instrument is exercised/conver ted	% of voting capital
		Subtotal B (financial instruments that have come up to the date set in column 2 hercof)

	Number of voting rights	1 % of voting rights
Total (A+B)	97035	4.99

1. Controlled undertakings through which the voting rights are held

Name	Number of voting shares held by cach undertaking	% of voting capital
	B Freensbook	1

⁵ Should disclose the voting shares held directly and/or indirectly.

9. Proxy voting (if the proxy is issued)

Full name of proxy holder	Number of voting shares	Date on which the proxy holder will cease to hold voting rights
10. Additional information"

Done at, date, time Rīga, 2012. gada 3. decembris, plkst. 12.00 4.8.8 Signature

Girts Vārna Finanšu tirgus daļa AS "Citadele banka"

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