Share purchase in Latvian road construction company SIA LCB

AS ASPI (wholly-owned owned by AS Eesti Ehitus) subsidiary SIA Abagars (AS ASPI
participation 56 per cent) signed a share purchase agreement to acquire a 75
per cent share in a Latvian registered company SIA LCB. The share capital of
SIA LCB consists of 6,600 shares with par value of 1 Latvian lat per share
(approximately EEK 22.1/EUR 1.4). SIA Abagars will purchase a total number of
4,950 shares. The title of the shares passes after the completion of all
necessary registration procedures, i.e. estimated in January 2009. 

SIA LCB is a road construction company operating in the area of Latgale
region's biggest city Daugavpils that is situated in the south-eastern part of
Latvia. SIA LCB has been operating since 2005 and has been one of the fastest
growing road construction companies in the region. The company's activities in
road construction have involved both main and subcontracting. SIA LCB clients
consist mostly of local municipality and state institutions. 

The purpose of the share purchase for Eesti Ehitus Group is to enter into
Latvian road construction market where so far the Group has not been present.
Latgale region is one of Latvia's biggest and important areas following Riga.
Daugavpils area has high transport density since it is located geographically
in the junction of Lithuania, Russia and Belarus. 

The transaction does not have material economical effect on the activities of
Eesti Ehitus Group and does not qualify as an acquisition of significant
holding nor a related party transaction within the meaning of “Requirements for
Issuers” of the NASDAQ OMX Tallinn Stock Exchange regulations. The members of
the supervisory board and management board of AS Eesti Ehitus do not have any
personal interests in the incorporation of the company. 


Eesti Ehitus is a group of construction companies whose core business is
general contracting and construction management in the construction of
buildings and infrastructures 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). Eesti Ehitus Group employs more than
1,200 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
1 LVL = 22.0662 EEK

Raimo Talviste
AS Eesti Ehitus
Head of Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@eestiehitus.ee 
www.eestiehitus.ee