On April 10, 2008, Eurocon Ukraine LLC, the subsidiary of AS Eesti Ehitus, signed agreements for the transfer of shareholdings in Ukrainian company JSC “Pasazh Teatralnyi”. With these transactions Eurocon Ukraine LLC sold a 30% shareholding in the company to Vicus Estonia OÜ and a 3% shareholding in the company to Taras Dobrjanski. JSC “Pasazh Teatralnyi” is a company incorporated in Ukraine, which leases land plots and owns buildings in Lviv, Ukraine. The company intends to develop a retail shopping centre on these land plots. The purpose of the transaction is to release funds of Eurocon Ukraine LLC from investment project. After the transactions Eurocon Ukraine LLC has a 57 % shareholding in JSC “Pasazh Teatralnyi”. 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