AS Trigon Property Development (TPD) hereby announces that it has been approached by AS Trigon Capital who has disclosed its intention to make a buy-out offer to all minority shareholders of TPD subject to the planned share issue announced in the previous stock exchange announcement dated December 12, 2007, being approved by the Extraordinary General Meeting of TPD. The buy-out offer will be subject to the registration of the prospectus with the Estonian Financial Supervision Authority. The intended buy-out price shall be equal to the NAV per share of TPD based on the valuation put on the Niidu property holding of TPD by Colliers International (latest calculation is approximately EUR 8.1 million, which equates to approximately EUR 1.80 per share). Ülo Adamson Chairman of the Supervisory Board
Buy-out offer intended for minority shareholders subject to the shareholders approving the planned share issue outlined in the previous stock exchange announcement
| Source: Trigon Property Development