Construction contract to be signed 1 August 2008

With resolution no. 103/08 of 17 June 2008, Riigi Kinnisvara AS (RKAS) has
declared successful the joint tender submitted by AS Aspi, AS Eesti Ehitus and
AS Teede Rev-2 for The First Construction Procurement for Koidula Railway
Border Station (public procurement reg. no. 105024). The parties have agreed
that the related construction contract will be signed on Friday, 1 August 2008
at 2 pm. 
The price of the contract is 279,760,000 kroons (17,879,923 euros) plus 18%
VAT. Work is scheduled to commence in August 2008 and should be completed in
December 2010. 
On behalf of the tenderers, the contract will be signed by AS Aspi, a
wholly-owned subsidiary of AS Eesti Ehitus. AS Teede Rev-2 is not part of Eesti
Ehitus group. 
The construction of Koidula railway border station has been divided into
stages, the above procurement covering the first stage. The design and build
contract awarded to AS Aspi, AS Eesti Ehitus and AS Teede Rev-2 entails
earthwork and the construction of bridges, culverts, roads, parking lots, water
supply and waste-, rain and storm water disposal facilities, and power systems.
The contractors will build approx. 25 km of track beds for rails, approx. 4 km
of paved side roads, and 0.6 km of light-surfaced local roads, reconstruct 3
existing and build 4 new bridges, and build new power lines and substations. On
building the water and sewerage systems, the contractors will deliver a bore
well with a pumping station, a fire water reservoir with a pumping station and
a new wastewater treatment facility. 
Eesti Ehitus is a group of construction companies whose core business is
general contracting and project management in the construction of buildings and
structures in Estonia, Latvia, Lithuania and Ukraine. In Estonia group
companies also act as independent contractors in road construction and
maintenance, environmental engineering and concrete works. The parent of the
group is AS Eesti Ehitus, a company registered and located in Tallinn, Estonia.
In addition to the parent, the group includes more than 20 subsidiaries. The
group's consolidated sales revenue for 2007 was 3.8 billion kroons (240 million
euros) and consolidated net profit 290 million kroons (19 million euros). Eesti
Ehitus group employs over 1200 people. The parent company's shares have been
quoted in the main list of the NASDAQ OMX Tallinn Stock Exchange since 18 May
2006. 

1 euro = 15.6466 kroons

Sulev Luiga
AS Eesti Ehitus
Member of the Board, CFO
Phone: +372 6400 450
Email: sulev.luiga@eestiehitus.ee 
www.eestiehitus.ee