On 09.03.2007 SIA Merks, a subsidiary of AS Merko Ehitus, and Latvian branch of Nordea Bank Finland Plc signed the LVL 27 million loan agreement to finance the construction of residential project „Skanstes Virsotnes” (http://www.skanstes-virsotnes.lv) on Skanstes street, Riga. The loan bears the annual interest rate of Rigibor + 0.72% and shall be repaid by 09.07.2010. The development includes construction of 510 apartments in four 24-floor buildings. The first stage of project will be completed by the end of 2008. 1 LVL = 22,07 EEK 1 EUR = 15,65 EEK Marko Pern Financist +372 6 805 130