Foundation of a subsidiary

27. The foundation of a subsidiary UAB Skano LT with share capital of 10,000 lit
(45,315 kroons / 2,896 euros) was completed on April 27, 2007. The shares of the
company are 100% hold by Skano OÜ, a subsidiary of Viisnurk AS. The purpose of  
establishing UAB Skano LT was to start retail of furniture in Klaipeda, Kaunas  
and Vilnius.                                                                    

Developing retail business is a part of the business strategy of the Furniture  
Division of Viisnurk AS aimed at moving closer to the end user. Skano is a      
trademark of Viisnurk AS for furniture.                                         

Viisnurk AS is a wood-processing company that manufactures and markets domestic 
furniture and building materials. It holds 100% of the shares of its subsidiary,
Skano OÜ. The latter, in turn, holds 100% of the shares of the subsidiary SIA   
Skano situated in Latvia.


Einar Pähkel
CFO
+372 447 8331
einar.pahkel@viisnurk.ee