On 21 May 2008, AS Merko Ehitus transferred a 50-percent holding (with the nominal value 20 000 EEK) in the company OÜ Tornimäe Apartments (registry code 11016607) to the copartner AS EKE Invest. The selling price of the company was 58 million EEK which was paid to the seller upon the transfer of the holding. The main area of activity of OÜ Tornimäe Apartments, which was established in 2004, is managing the property development project at Tornimäe 7 in Tallinn. OÜ Tornimäe Apartments was transferred due to the completion of the development project and AS Merko Ehitus will show the transaction under the company's Q2 revenues. In accordance with the rules for issuers as established by the Tallinn Stock Exchange, the abovementioned sales transaction is not a transaction with a related party and the members of the supervisory and management boards do not have any other personal interest in the transaction. 1 EUR = 15.647 EEK Alar Lagus Member of the Board +372 6 805 105 alar.lagus@merko.ee