Market announcement

Title

NCN: Institution of criminal proceedings against Nordecon International AS' subsidiary Nordecon Infra AS

Message

Nordecon International              Company Announcement              17.11.2010

Institution of criminal proceedings against Nordecon International AS'
subsidiary Nordecon Infra AS

Nordecon International AS hereby announces to the stock exchange that on 16
November 2010 the Security Police Board conducted a search in the offices of
Nordecon International AS' subsidiary Nordecon Infra AS. According to the
explanations of the body conducting the proceedings, the purpose was to gather
information and documents in connection with two criminal matters related to a
public procurement tender called by the Road Administration. As part of the
procedural acts, the security police officers interviewed the executives of
companies belonging to Nordecon group. According to the Security Police Board,
the criminal proceedings have been instituted to investigate whether an attempt
has been made to conclude an agreement for distorting competition and to engage
in concerted practices. 

Nordecon Infra AS is cooperating with the body conducting the proceedings in
every way and has affirmed that its activities both in and outside the
procurement proceedings have been completely legitimate. 


Nordecon International is a group of construction companies whose core business
is construction project management and general contracting in the buildings and
infrastructures segment. Geographically the Group operates in Estonia, Ukraine
and Finland. 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 15 subsidiaries in the Group. The consolidated revenue of
the Group in 2009 was 2.4 billion kroons (155 million euros). Currently
Nordecon International Group employs nearly 750 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: [email protected] 
www.nordecon.com