Nordecon
Annual Financial Report

Audited annual report 2010, auditor's report and profit allocation proposal

The council of Nordecon AS approved on 18 April 2011 the audited annual report and profit allocation proposal for the year 2010 of Nordecon AS.

Tallinn, Estonia, 2011-04-19 07:30 CEST -- The council of Nordecon AS approved on 18 April 2011 the audited annual report and profit allocation proposal for the year 2010. The council decided to present the annual report and profit allocation proposal as prepared by the management for the approval of the general meeting of shareholders.

Nordecon AS consolidated net loss of the company of the financial year 2010 is EEK 184,792,000 (EUR 11,810,361). The rest of the balance of retained earnings is EEK 345,280,000 (EUR 22,067,414). To cover the net loss of the financial year 2010 from the retained earnings of previous periods. The balance of the retained earnings will remain undistributed. Not to pay dividends to the shareholders and not to make payments to the statutory reserve. The balance of retained earnings will be EUR 10,257,053.

The audited annual report that contains auditor’s report and profit allocation proposal for 2010 is made available on NASDAQ OMX Tallinn Stock Exchange’s web page www.nasdaqomxbaltic.com and issuer’s web page www.nordecon.com. The annual report can also be read at issuer’s location on Pärnu mnt 158/1, Tallinn.

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.

1 euro = 15.6466 kroons

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