On April 14, 2008, Eurocon Ukraine LLC, the subsidiary of AS Eesti Ehitus, signed an agreement for the sale of its 50% shareholding in Ukrainian company LLC “Baltic Development” to LLC “Comerica”, an entity not related to AS Eesti Ehitus group. LLC “Baltic Development” is a company incorporated in Ukraine, which owns a land plot in Kyiv region, Boryspil district. So far the company has not had significant economic activities. The purpose of the transaction is exit the investment project. The transaction will be completed after the fulfilment of conditions set forth in the sale agreement, including, among others, the obtaining of permit of Antimonopoly Committee of Ukraine and the sale of 50% shareholding by the other shareholder of LLC “Baltic Development” who is not related to AS Eesti Ehitus group. AS Eesti Ehitus has a shareholding in Eurocon Ukraine LLC through OÜ Eurocon. AS Eesti Ehitus owns approx. 64% of shares in OÜ Eurocon. OÜ Eurocon owns 100 % of shares in Eurocon Ukraine LLC. The transaction does not have material economical effect on the activities of AS Eesti Ehitus and does not qualify as a transfer of significant holding nor a related party transaction within the meaning of “Requirements for Issuers” of the Tallinn Stock Exchange Rules. The members of the supervisory board and management board of AS Eesti Ehitus do not have any personal interests in the incorporation of the company. Sulev Luiga AS Eesti Ehitus Member of the Management Board, CFO Tel: +372 6400448 E-mail: eestiehitus@eestiehitus.ee