Board change in AS Eesti Ehitus

AS Eesti Ehitus     Changes board/management/auditors         June 15, 2007     

Board change in AS Eesti Ehitus                                                 

Andri Hõbemägi, member of the board and financial director of AS Eesti Ehitus   
leaves the company as of July 15, 2007 to assume the role of managing the       
investments and project analysis as well as treasury in the core shareholder of 
the company, AS Nordecon. Andri Hõbemägi has been in AS Eesti Ehitus since      
November 18, 2002.                                                              

Starting from July 9, 2007, a new member of the board and financial director    
will be Sulev Luiga, who serves as the member of the board and financial manager
of AS Arco Vara until June 30, 2007. Sulev Luiga has been with AS Arco Vara     
since 2005, while from 1992 until 2005 he was employed by KPMG Estonia AS,      
including from 2001 as senior partner and chairman of the board. Sulev Luiga    
owns 1000 shares of AS Eesti Ehitus.                                            

According to the chairman of AS Nordecon, Toomas Luman, the significant increase
in the assets and investment potential of AS Nordecon has led to the decision  
to bring in Andri Hõbemägi as a experienced professional in his field to back   
the future developments of the group. Also, it is clear that these changes will 
strenghten the strategic management of AS Nordecon's largest subsidiary AS Eesti
Ehitus as a whole.                                                              

Jaano Vink                                                                      
Chairman of the board                                                           
AS Eesti Ehitus                                                                 
Tel: (+372) 6400 450                                                            
E-mail: eestiehitus@eestiehitus.ee