On 1 March 2010, the companies AS Merko Ehitus and AS Kolde (belongs to the Arco Vara group) concluded a contract for services, for the construction and financing of four apartment buildings (with a total of 96 apartments), to be built as part of the Kodukolde development project of Arco Vara. The total contract value is approximately EEK 80 million and AS Merko Ehitus will provide EEK 40 million of financing for the project. Pursuant to the contract for services, the first two buildings will be completed in spring 2011. 1 EUR = 15.6466 EEK Marko Pern Financist +372 6 805 130 marko.pern@merko.ee