AS Eesti Ehitus subsidiary OÜ Eurocon that is responsible for operating Group's economic activities in Ukraine signed a share sale-purchase agreement by which it sold an 8 per cent share with nominal value of UAH 32,000 (approximately EEK 73,000/EUR 4,680) in a Ukrainian real estate development company V.I. Center TOV. The shares were transferred to existing V.I. Center TOV shareholder Continental Investment Holding Gmhb, a company registered in Austria. After the share sale-purchase agreement OÜ Eurocon's shareholding in V.I. Center TOV is 44 per cent. The decreasing of shareholding was agreed upon between investors and in accordance with business plan which foresees step-by-step transfer of OÜ Eurocon's shareholding in V.I. Center TOV depending on getting a construction permit and signing of a construction contract. As of today V.I. Center TOV has acquired a construction permit. V.I. Center is a development project near Kiev Borispol airport where according to plans a 340 room hotel and office space of 40,000 square meters is built. AS Eesti Ehitus has a shareholding in V.I. Center TOV through OÜ Eurocon. AS Eesti Ehitus owns approx. 63 per cent of shares in OÜ Eurocon. The transaction does not have material economical effect on the activities of AS Eesti Ehitus and does not qualify as a transfer of significant shareholding 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 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 = 2,2878 EEK Raimo Talviste AS Eesti Ehitus Head of Investor Relations Tel: +372 6400 450 Email: raimo.talviste@eestiehitus.ee www.eestiehitus.ee