Construction contract

Nordecon International AS subsidiaries Nordecon Infra AS and Nordecon Infra SIA
as joint bidders signed a construction contract with AS Pärnu Vesi. The
contract is for the reconstruction and expansion of Pärnu town (situated in the
south-east part of Estonia) water and sewage network. Works will take place in
Ülejõe and Rääma district. Financing is provided by the European Union's
Cohesion Fund and AS Pärnu Vesi. 

The price of the contract is approximately 66 million kroons (4.2 million
euros) excluding VAT. 

As per contract the construction works start in September 2009 and will be
finished by estimates in November 2011. 


Nordecon International 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 Nordecon International AS, 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 2008 was 3.9 billion kroons (247 million euros) and the
consolidated net profit was 171 million kroons (11 million euros). Nordecon
International Group employs more than 1,100 people. Since 18 May 2006, the
company's shares have been quoted in the main list of the NASDAQ OMX Tallinn
Stock Exchange. 

1 euro = 15.6466 kroons


Raimo Talviste
Nordecon International AS
Head of Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com 
www.nordecon.com