Eastern European Markets
October, 20. 2005

Tamro purchases a pharmacy group in Estonia

Tamro has signed an agreement to purchase 11 pharmacies, operating throughout Estonia, from a group of Estonian investors. The pharmacies operate in cities such as Tallinn, Tartu, Narva, Viljandi, Kohtla-Järve and Jõgeva and hold together an estimated share of about 2,6% in the Estonian pharmacy retail market. The agreement is pending approval from the Estonian competition board.

"We welcome the new pharmacies to Tamro”, says Tarvo Vaasa, Managing Director of Tamro Estonia. “This acquisition expands our geographical coverage in Estonia and improves our service network in the fiercely competed retail market.”

"Tamro is committed to the long-term development of the Estonian pharmacy services” said Jo Langmoen, CEO of Tamro Group. “This investment further develops our position in the pharmaceutical supply chain and strengthens our core-business of pharmaceutical wholesale.”

About Tamro Grouo
Tamro Group operates pharmacies in Lithuania, Latvia, Estonia and Norway and is the leading pharmaceutical wholesaler in Northern Europe. The Group operates in the Nordic countries, in the Baltic States and through a minority share in Russia. Tamro's average share of pharmaceutical wholesaling in the Nordic countries is approx. 52%. Tamro is a subsidiary of the pan-European PHOENIX Group. Headquartered in Vantaa, Finland, Tamro employs over 4000 people and produces annual revenues of more than EUR 4,5 billion.

For further information:
For further information, please contact:
Tarvo Vaasa, Managing Director, Tamro Eesti OÜ, phone +372 650 3600
Jo Langmoen, CEO, Tamro Group, phone +358 20 445 4050

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