AS Linnaehitus (a wholly owned subsidiary of AS Eesti Ehitus) and OÜ Lõunakeskus signed a design and construction agreement for the expansion works on shopping centre Lõunakeskus situated in Tartu. The expansion works include two floors and usable area of approximately 24,500 square meters. The contract value is EEK 284,270,000 (EUR 18,168,164) excluding VAT 18 per cent. The works begin in June 2008 and the estimated completion of the construction works is September 2009. Eesti Ehitus is a group of construction companies whose core business is general contracting and construction management in the construction of buildings and structures 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 AS Eesti Ehitus, 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 2007 was 3,8 billion kroons (240 million euros) and the consolidated net profit was 290 million kroons (19 million euros). AS Eesti Ehitus Group employs more than 1100 people. Since 18 May 2006, the company's shares have been quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange. 1 EUR = 15,6466 EEK Raimo Talviste AS Eesti Ehitus Head of Investor Relations Tel: +372 6400 450 Email: raimo.talviste@eestiehitus.ee www.eestiehitus.ee