Arco Construction SIA signed the contract for the design and construction of water treatment plant in Ogre village in Latvia. Total value of the contract is 48,5 mln kroons (3,1 mln euros) without VAT and lasts for two years. Arco Ehitus OÜ signed the contract for the renovation and expansion of water and sewage network in Võru and Antsla cities. Total value of the contract is 57,3 mln kroons (3,7 mln euros) without VAT and lasts for two years. 55% of Arco Construction SIA belongs to Arco Ehitus OÜ. Arco Ehitus OÜ is fully owned subsidiary of Arco Vara AS. Arco Vara is a leading real estate developer in the Baltic's, undergoing a CEE expansion with presence established already in Ukraine, Bulgaria and Romania. The operations involve real estate development, brokerage, construction and investment management arm. The company has offices in 30 cities and has in total 649 employees. According to 2007 unaudited consolidated results net sales was 727,2 mln kroons (46,5 mln euros), net profit before minorities 235,5 mln kroons (15,1 mln euros) and assets 3 564,0 mln kroons (227,8 mln euros). Arco Vara is listed on Tallinn Stock Exchange. 1 EUR=15,6466 EEK Heigo Metsoja IRO +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com