Nordecon International AS acquired in 19 October 2007 52 per cent of AS Eston Ehitus shares (http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=EE3100039496&list= 2&tab=news&news_id=232581). AS Eston Ehitus is a construction company operating mainly in Western Estonia with core competence in general contracting. AS Eston Ehitus has been a Group subsidiary after the acquisition in 2007. Nordecon International AS and AS Eston Ehitus minority shareholders (13 private persons and 1 legal entity) have been signing share purchase agreements during the period between 24 July and 3 August 2009. As of these agreements the direct participation of Nordecon International AS in AS Eston Ehitus share capital has risen to 97.7 per cent (share capital in total is 1,000,400 kroons / 63,937 euros). Nordecon International AS has consistently held an investment strategy regarding its subsidiaries by which initially a majority shareholding has been acquired, followed by a step-by-step increase in participation if this has been economically sensible. In the current market situation all construction companies and their owners must critically assess their capability to adapt and readiness to changes ahead. It is clear that declining construction volumes demand complicated executive decisions. Shareholders more united participation also becomes important from the need to be more actively involved with problematic clients in construction market (in AS Eston Ehitus case so-called Peterburi Ärikvartal. Company announcement 16 July 2009 http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=EE3100039496&list=2 &tab=news&news_id=235435). Nordecon International AS came to a conclusion that it is best for AS Eston Ehitus to continue as a wholly owned subsidiary to Nordecon International Group. This point of view also coincided with minority shareholders in light of AS Eston Ehitus future development in current market situation. The negotiations for the acquisition of the remaining 2.3 per cent of shares are ongoing. As per confidentiality agreement the parties do not disclose the price of the share purchase agreements. The price was paid in cash and during the period of the transfer of shares. The transaction does not have material economical effect on the activities of Nordecon International Group and does not qualify as an acquisition of significant holding because AS Eston Ehitus was already a subsidiary to the Group. With the exception of Mr Ivo Aulik this is not a related party transaction within the meaning of “Requirements for Issuers” of the NASDAQ OMX Tallinn Stock Exchange regulations. Mr Aulik is a member of the supervisory board of AS Eston Ehitus, but entered into agreement with identical conditions to other shareholders. The members of the supervisory board and management board of Nordecon International AS do not have any personal interests in the incorporation of the company. Nordecon International 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 Nordecon International AS, 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 2008 was 3.9 billion kroons (247 million euros) and the consolidated net profit was 171 million kroons (11 million euros). Nordecon International Group employs more than 1,100 people. Since 18 May 2006, the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange. 1 euro = 15.6466 kroons Raimo Talviste Nordecon International AS Head of Investor Relations Tel: +372 615 4445 Email: raimo.talviste@nordecon.com www.nordecon.com