TPD: Audited Financial results of Trigon Property Development, 2007

30.04.2008                                                                     

On 29 June 2007 a significant change occurred in the economic activity of AS    
Trigon Property Development, when the division plan of AS Trigon Property       
Development was signed pursuant to which the manufacturing unit, i.e. the       
construction materials division and furniture division were spun off from AS    
Trigon Property Development. This resolution was approved by the General Meeting
of Shareholders on 6 August 2007. The division was entered into the commercial  
register on 19 September 2007. After the division, the main activity of AS      
Trigon Property Development is property development.                            
The financial statements for 2007 of Trigon Property Development have been      
prepared after the division of AS Viisnurk, reflecting the results of continuing
operations (property development) during the 2007.                              
As at the end of 2007, AS Trigon Property Development owned one property        
development project involving 40-hectare land plot in the City of Pärnu, Niidu  
area where will be developed commercial property.                               

The balance sheet as of 31.12.2007 delivered by the present announcement        
completely reflects the assets, liabilities and equity capital of AS Trigon     
Property Development, which remained in the company after separation of AS      
Viisnurk. The balance sheet as of 31.12.2006 contains also the assets,          
liabilities and equity capital of AS Viisnurk, which were separated during the  
division.                                                                       
Comparing the currently delivered balance sheet as of 31.12.2006 with the       
consolidated annual report 2006 of AS Trigon Property Development announced     
earlier, the value of property investments and equity capital have been adjusted
retroactively. Previously the property investments were recognised at historical
cost principle, but in the current balance sheet the property investments are   
recognised retroactively at the fair value principle.                           
According to the income statement the net profit of AS Trigon Property          
Development for 2007 is 37,225 thousand EEK (includes the 9 months profit of AS 
Viisnurk in the amount of 11,875 thousand). The profit earned on continuous     
business activity (property development) of AS Trigon Property Development      
during 2007 is 25,350 thousand EEK, which was achieved through the increase of  
the fair value of property investment.                                          

According to the presented income statement the earnings per share of AS Trigon 
Property Development for 2007 is 8.27 EEK, which contains also the profit of AS 
Viisnurk. The earnings per share of AS Trigon Property Development for 2007 from
the continuous business activity (real estate development) is 5.63 EEK.         

Diluted earnings of AS Trigon Property Development per share are equal to the   
basic earnings per share because the Company does not have any potential        
ordinary shares with the dilutive effect on the earnings per share.    

The net profit refleced in the audited annual report differs from the net
profit initially published in the IV quarter interim report more than 10% due
to change in the fair value of the property investment. 

Ülo Adamson                                                                     
Chairman of the Supervisory Board                                               
+372 6679 200                                                                   
info@trigonproperty.com