Tallinna Teede AS, a wholly owned subsidiary of AS Merko Ehitus, participated in the competitive bidding for the shares in AS Vooremaa Teed, a 100-percent state-owned road maintenance company. The principal activity of AS Vooremaa Teed is the execution of road construction and road maintenance works on the roads in Jõgeva County. The company's unaudited revenue in 2008 was EEK 74.4 million, EBITDA EEK 5.6 million and net profit was EEK 0.9 million. The company's balance sheet total as at 31 Dec 2008 was EEK 32.0 million and equity EEK 12.2 million. The committee, established with directive No 247 of 29 Oct 2008 of the Director General of Estonian Road Administration for the preparation and execution of the transfer of the state's shares in AS Vooremaa Teed, has decided to declare Tallinna Teede AS's bid of EEK 47 989 570 the winning bid in the public sale of the shares in AS Vooremaa Teed. On 16 April 2009 The Government of the Republic of Estonia approved the bid. 1 EUR = 15,647 EEK Marko Pern Financist +372 6 805 130 marko.pern@merko.ee