Changes in management boards and councils in Nordecon International Group key subsidiaries (as defined by exchange regulations) during January 2010: Eston Ehitus In December 2009 AS Eston Ehitus war sold to Nordecon Ehitus AS, an inter-group transaction (see company announcement 30 December 2009). As a result the shareholders have made changes in the supervisory council. Former council members Mr Jaano Vink (Chairman of council) and Mrs Ingrid Aloe-Kiisel have been recalled. The new members of the council are representatives of Nordecon Ehitus AS Mr Priit Jaagant (chairman of the management board of Nordecon Ehitus) and Mr Marko Raudsik (member of the management board of Nordecon Ehitus). Mr Priit Tiru has been recalled from management board of AS Eston Ehitus. His temporary appointment was related to restructuring of the company. Mr Tiru will continue as a member of board of Nordecon International AS. The new board member is Mr Peep Sakk who previously worked as a construction director in Eston Ehitus. Eurocon OÜ Eurocon OÜ, a holding company for Nordecon International Ukrainian activities has recalled Mr Toomas Jõgeva from management board. The new appointed member of the board is Mr Ahto Altjõe who has been working as a managing director of Eurocon Ukraine LLC. The change in management board comes from necessity to make day-to-day management more efficient. Nordecon Ehitus AS, a wholly-owned company of Nordecon International AS owns 97.7 per cent of shares of AS Eston Ehitus. Nordecon International AS owns approximately 64 per cent of shares of Eurocon OÜ. 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 1,000 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 Finance and Investor Relations Tel: +372 615 4445 Email: raimo.talviste@nordecon.com www.nordecon.com