ABOUT TRADING IN AS MERKO EHITUS SHARES DURING THE FIRST TRADING DAY


Information related to AS Merko Ehitus in the trading system:

Issuer's full name - AS Merko Ehitus
Issuer's short name - MRK
Instrument and orderbook short name - MRK1T
Orderbook number - 57419
Instrument ID - 42690
List - Main List
Minimum quantity - 1
Standard quantity - 500
Number of listed shares 17,700,000
ISIN - EE3100098328

In the beginning of the trading period the reference price is EUR 6.62 (EEK
103.58) and the reference limits are +15% (EUR 7.61) and -15% (EUR 5.63). The
reference price is calculated as a difference between MKO1T last (July 28,
2008) closing price (EUR 7.10) and JRV1T today's closing price (EUR 0.48). 

Opening call (CLIN) between 9:45 and 10:00:

- Reference limits will not be changed.

Trading period between 10:00 and 13:50:

- Should the best bid price reach the upper reference limit +15% (EUR 7.61) or
the best ask price reach the lower reference limit -15% (EUR 5.63), the stock
exchange will suspend trading for reference limit adjustment by the decision of
managing director of Tallinn Stock Exchange. 

- The stock exchange will publish an announcement stating the new reference
limits and the trading will be resumed with the 10-minute call interaction
(CLIN). The limits will be changed using 10% steps. 

- Should the best bid price or the best ask price reach the new reference
limits, the above-mentioned actions will be repeated. 

During the first trading day it is recommended to use “Limit Orders” especially
during the first trading day to avoid trading at unfavorable price. Should
investors use "Market Price Orders", they are advised to be very cautious and
to have the comprehensive real-time overview of the current market situation. 


Tallinn Stock Exchange
Market Services
+372 640 8800