Merko Ehitus                  NEWS RELEASE                      09/01/2004



AMENDMENT TO ARTICLE PUBLISHED IN EESTI PÄEVALEHT



In order to specify the article published in Eesti Päevaleht on September 1,

2004 titled "Merko caught a goldfish in Riga" we consider it necessary to

point out that SIA Merks, a subsidiary of AS Merko Ehitus, has started

preparation works for building a multifunctional centre in Riga, which

presumably will culminate in full-scale construction works. At the moment,

there are yet a number of technical and juridical questions to be solved

and thus the allegation claiming that SIA Merks is building a multifunctional

centre in Riga is premature.



Should the project be realized, it would be a real estate investment for

Merko Ehitus group. This is a long-term development project, which will be

productive only if the whole area is being developed.



The total building volume and costs of the centre will remain within the

limits announced to the Stock Exchange earlier.





Marko Pern

Financist

+372 6 805 130