AS Fenniger               STOCK EXCHANGE RELEASE                 24.08.2005



EXECUTION OF LAND SALE AGREEMENT



AS Fenniger informs that today A/S Eldikrija, the daughter company of AS

Fenniger, has signed with Latvian company SIA State Real Estate the sale

agreement for the acquisition of a plot in Riga located at Respublikas laukuma

3/Citadels iela 7 with the price of 1,45 M Latvian lats. The apartment building

developed by AS Eldikrija is located on the plot being the object of the sale

agreement.

AS Eldikrija started in August with the execution of agreements for the sale of

apartments.



Meeli Puusepp

CFO

681 9900