OEG concern main objective of activities in 2009 was the adjustment
of
operations to changing market situation. Within 2009 the restructuring
and
optimization program was carried out, in course of which 44 casinos were
closed
(excluding Ukraine). At the end of Q4 OEG management has summarized the
results
of restructuring activities, including conduction of additional
evaluations on
value of assets. 
In Q4 OEG concern had non-recurrent expenses
in total amount of 96.8 million
EEK (6.2 million EUR).  Expected cost effect
of 2009 optimization activities in
2010 amounts to 660.8 million EEK (42.2
million EUR). 
Reevaluation of investment property in Lithuania has caused
non-recurrent costs
in amount of 18.9 million EEK (1.2 million EUR) and fixed
assets removal from
operations due to casinos closures - in amount of 14.1
million EEK (0.9 million
EUR). Value of intangible assets has been decreased
by 21.9 million EEK (1.4
million EUR). Provisions connected with closed
casinos rent agreements
termination amounted to 11.1 million EEK (0.7 million
EUR). In addition, assets
that were no longer expected to be utilized, were
sold in Q4 2009, which has
caused sales losses of 29.9 million EEK (1.9
million EUR). 
In Q4 OEG concern has additionally reduced personnel by 113
employees, related
costs amounted to 0.9 million EEK (0.1 million EUR). 
OEG
will announce Q4 and 2009 consolidated results on 8th week.

Additional
information:

Kristi Ojakäär
CFO
Olympic Entertainment Group
Tel + 372 667
1250
E-post kristi.ojakaar@oc.eu 
http://www.olympic-casino.com