Merko Ehitus                  NEWS RELEASE                      07/21/2003



CONCLUDING A CONTRACT



On July 21th 2003 AS Merko Ehitus and OÜ Vara HTG concluded

a contract for construction works of the Hotel 5 Laikmaa Street.

Price of the contract is EEK 228 855 000 without VAT

(14 626 463 euros without VAT). Hotel has 350 rooms.

Completion time for the works is set on 30 April 2004.



Additional information:

Tarmo Pohlak, AS Merko Ehitus, Project Manager, tel. +372 56 805 307





Ülo Metsaots

Financial director

6 805 104