AS Eesti Ehitus subsidiary Eurocon Ukraine LLC (domiciled in Ukraine) signed a building contract with the Ukrainian company ZAO Dneprovska Pristan for the building of recreational- and shopping center in Kyiv, Darnitski district, Ukraine. That would be absolutely new level Ukrainian property in our country.

The agreement price is 52 436 730 UAH (112 398 130 EEK / 7 183 560 EUR), excluded Ukrainian VAT 20 pct, the company reported.

The planned time for the building works to start is August 2008 and finishing in May 2009.

Eesti Ehitus has a shareholding in Eurocon Ukraine LLC through its Estonian domiciled subsidiary Eurocon OU (AS Eesti Ehitus shareholding 63 percent). Eurocon Ukraine LLC is a only owned subsidiary of Eurocon OU.

Eesti Ehitus is a group of building companies whose core business is general contracting and construction management in the construction of real estate for sale and infrastructures in Estonia, Latvia, Lithuania and Ukraine.

The consolidated revenue of Eesti Ehitus in 2007 was 3.8 billion EEK (240 million EUR) and the consolidated net benefit was 290 million EEK (19 million EUR).