Conclusion of agreement for the transfer of shareholding

Eurocon Ukraine LLC, the subsidiary of AS Eesti Ehitus, signed an agreement for
the transfer of shareholdings of financial investment in Ukrainian company TOV
European House. 

The purpose of the transaction is to exit from the investment project. The
transaction will be completed after the fulfillment of conditions set forth in
the sale agreement, including, among others, the obtaining of permit of
Antimonopoly Committee of Ukraine. 

AS Eesti Ehitus has a shareholding in Eurocon Ukraine LLC through OÜ Eurocon.
AS Eesti Ehitus owns approx. 63 per cent of shares in OÜ Eurocon. OÜ Eurocon
owns 100 per cent of shares in Eurocon Ukraine LLC. 
 
The transaction does not have material economical effect on the activities of
AS Eesti Ehitus and does not qualify as a transfer of significant holding nor a
related party transaction within the meaning of “Requirements for Issuers” of
the NASDAQ OMX Tallinn Stock Exchange Rules. 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). 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