Market announcement

Title

Notice of Extraordinary General Meeting of Shareholders

Message

AS Eesti Ehitus (registry code 10099962, address Pärnu mnt 158/1, 11317
Tallinn) hereby convenes an Extraordinary General Meeting of Shareholders,
which shall be held on March 26, 2009 at 10 A.M. in room Gamma of the
conference centre of  Reval Hotel Olümpia (Liivalaia 33, 10118 Tallinn). 

The list of shareholders, who are entitled to vote at the General Meeting,
shall be closed on March 16, 2009 at 23.59 hours. 

The registration of the participants of the Extraordinary General Meeting shall
take place from 9 A.M. until 10 A.M. at the venue of the Meeting. 

For registration please submit:
- in case of a shareholder who is a natural person, a passport or ID card. The
representative of the shareholder must also submit a power of attorney; 

- in case of a shareholder who is a legal entity, an extract from the
respective register where the legal entity is registered and from which the
authorisation of the legal entity's representative to represent the legal
entity is evident (representation by virtue of law) and a passport or ID card
or any other document of identification with a photo of the representative. If
the legal entity is represented by a person who is not the legal representative
of the legal entity, a power of attorney is also required. 

The Extraordinary General Meeting of the Shareholders is convened by the
initiative of the management board to change the business name, i.e. to choose
and approve a business name which is in better conformity with the activities
of the company, and to revoke the restriction on the right of representation of
the members of the management board. 

In accordance with the resolution of the supervisory board of AS Eesti Ehitus,
dated March 12, 2009, the agenda of the Extraordinary General Meeting of the
Shareholders is as follows: 

1. Change of business name; 
2. Amendment of Articles of Association.

The supervisory board of AS Eesti Ehitus makes the following proposals to the
shareholders: 

1. Change of business name

The current business name of AS Eesti Ehitus underlines the Estonia-focused
nature of the company's activities. The geographical scope of the activities of
the company is, however, substantially broader. Therefore, the supervisory
board makes a proposal to the shareholders to change the business name of the
company and to choose and approve at the Extraordinary General Meeting a new
business name for the company, which pronunciation, spelling and meaning is
more international and thereby in better conformity with the activities of the
company. 

At the Extraordinary General Meeting of the Shareholders Mr. Jaano Vink, the
Chairman of the management board of AS Eesti Ehitus, introduces the business
strategy of AS Eesti Ehitus for the years 2009-2013. 

2. Amendment of Articles of Association

2.1. The supervisory board of AS Eesti Ehitus makes the following proposal to
the shareholders for changing the business name of the company: 

To amend Section 1.1. of the Articles of Association of AS Eesti Ehitus as
follows: “The business name of the Company is [the business name approved by
the Extraordinary General Meeting of the Shareholders]“. 

2.2. The management board of AS Eesti Ehitus is comprised of three members. The
Supervisory Board is of the opinion that there is no need for the restriction
on the right of representation of the management board and makes the following
proposal to the shareholders: 

To amend Section 4.4. of the Articles of Association of AS Eesti Ehitus as
follows: “Each member of the management board may represent the Company alone
in all legal acts.” 

The supervisory board of AS Eesti Ehitus makes a proposal to the shareholders
to adopt the new Articles of Association of the company. 


The draft of the Articles of Association can be reviewed and examined by the
shareholders as of March 13, 2009 on the website of AS Eesti Ehitus
http://www.eestiehitus.ee or during working days from 10 A.M. until 16 P.M. at
the address Pärnu mnt 158/1, 11317 Tallinn and on the website of NASDAQ OMX
Tallinn Stock Exchange http://www.nasdaqomxbaltic.com as attached to this
company announcement. Questions on items of the agenda of the Extraordinary
General Meeting can be sent to the e-mail address eestiehitus@eestiehitus.ee.
The questions, answers and opinions of the meeting shall be published on the
company's website. 



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
2008 was 3.9 billion kroons (247 million euros) and the consolidated net profit
was 171 million kroons (11 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


Jaano Vink
Chairman of the Management Board
AS Eesti Ehitus
Tel: +372 615 4400
E-post: eestiehitus@eestiehitus.ee