Nordecon Company Announcement 31.01.2012

Change in Nordecon group structure

Tallinn, Estonia, 2012-01-31 08:15 CET (GLOBE NEWSWIRE) -- Nordecon group
subsidiary Eurocon OÜ (Nordecon AS shareholding 64 per cent) sold its
wholly-owned Ukrainian registered subsidiary Eurocon Ukraine TOV (incl. its
subsidiaries and associates) to Eurocon Vara OÜ (wholly-owned subsidiary of
Nordecon AS). Eurocon Vara OÜ shall overtake from Eurocon OÜ the role of
Nordecon’s holding company of its Ukrainian entities. The purpose of this
intra-group restructuring is to achieve the proper alignment of parent company
Nordecon AS’ risks and expected returns in Ukraine.

Eurocon Ukraine TOV is a provider of construction services (mainly to private
sector clients) in Ukraine. Its share capital is of 18,500 UAH (approximately
1,735 EUR). The Antimonopoly Committee of Ukraine approved the transaction in
January 2012.

The transaction does not have material economical effect on the activities of
Nordecon group and does not qualify as an acquisition of significant holding
within the meaning of “Requirements for Issuers” of the NASDAQ OMX Tallinn
Stock Exchange regulations. The members of the supervisory board and management
board of Nordecon AS do not have any other personal interests in the
incorporation of the company.

1 UAH = 0.09476 EUR (exchange rate as of 30 December 2012)



Nordecon 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 AS, a company registered and
located in Tallinn, Estonia. In addition to the parent company, there are more
than 10 subsidiaries in the Group. The consolidated revenue of the Group in
2010 was 99.3 million euros. Currently Nordecon Group employs nearly 700
people. Since 18 May 2006, the company's shares have been quoted in the main
list of the NASDAQ OMX Tallinn Stock Exchange.


Raimo Talviste
Nordecon AS
Head of Finance and Investor Relations
Tel: +372 615 4445
Email: raimo.talviste@nordecon.com
www.nordecon.com