Eurocon Ukraine LLC, the subsidiary of AS Eesti Ehitus, signed an agreement for the transfer of shareholdings in Ukrainian company JSC Pasazh Teatralnyi. With the transaction Eurocon Ukraine LLC sold a 30 per cent shareholding in the company. JSC Pasazh Teatralnyi is a company incorporated in Ukraine, which leases land plots and owns buildings in Lviv, Ukraine. The company develops 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 27 per cent shareholding in JSC Pasazh Teatralnyi. AS Eesti Ehitus has a shareholding in Eurocon Ukraine LLC through OÜ Eurocon. AS Eesti Ehitus owns approx. 63 per cent of shares in OÜ Eurocon. OÜ Eurocon owns 100 per cent 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 NASDAQ OMX 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. Eesti Ehitus is a group of construction companies whose core business is general contracting and construction management in the construction of buildings and infrastructures in Estonia, Latvia, Lithuania and Ukraine. In addition, in Estonia our companies act as independent contractors in road construction and maintenance, environmental engineering, the assembly of reinforced concrete elements, and the performance of cast-on-site concrete works. The parent of the Group is AS Eesti Ehitus, a company registered and located in Tallinn, Estonia. In addition to the parent company, there are more than 20 subsidiaries in the Group. The consolidated revenue of the Group in 2007 was 3,8 billion kroons (240 million euros) and the consolidated net profit was 290 million kroons (19 million euros). AS Eesti Ehitus Group employs more than 1100 people. Since 18 May 2006, the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange. 1 EUR = 15,6466 EEK Raimo Talviste AS Eesti Ehitus Head of Investor Relations Tel: +372 6400 450 Email: raimo.talviste@eestiehitus.ee www.eestiehitus.ee