AS Eesti Ehitus subsidiary Eurocon Ukraine LLC (domiciled in Ukraine) signed a construction contract with the Ukrainian company ZAO Dneprovska Pristan for the construction of recreational- and shopping center in Kiev, Darnitski district, Ukraine. The contract price is UAH 52,436,729 (EEK 112,398,129 / EUR 7,183,550), excluded Ukrainian VAT 20 per cent. The estimated time for the construction works to start is August 2008 and finishing in May 2009. AS Eesti Ehitus has a shareholding in Eurocon Ukraine LLC through its Estonian domiciled subsidiary Eurocon OÜ (AS Eesti Ehitus shareholding 63 per cent). Eurocon Ukraine LLC is a wholly-owned subsidiary of Eurocon OÜ. 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). Eesti Ehitus Group employs more than 1200 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 1 UAH = 2,1435 EEK (28 July 2008 Bank of Estonia) Raimo Talviste AS Eesti Ehitus Head of Investor Relations Tel: +372 6400 450 Email: raimo.talviste@eestiehitus.ee www.eestiehitus.ee