The corrected release follows:
The division of AS Viisnurk was registered today, on 19.09.2007, in Pärnu County Court Registry Department. In accordance with the division plan published through the stock exchange release on 29.06.2007, as a result, starting as of today, the following changes have taken effect:
1. The current listed company has been renamed to AS Trigon Property Development. The company's current single property holding and its first development project is a 40ha land area located next to Pärnu city in Estonia, owned through the company's 100% subsidiary OÜ VN Niidu Kinnisvara. The new wording of the articles of AS Trigon Property Development has become effective in accordance with the wording published in the stock exchange release on 05.07.2007
2. All other operating assets and activities of the building materials and furniture division of the company have been transferred to a new company created through the split. The new company has been given the business name AS Viisnurk.
As part of its development plans and as announced though the previous stock exchange release on 29.06.2007, AS Trigon Property Development is currently finalising the work for folding other large property development projects into its property development holdings. For this purpose, the management is preparing to call an extraordinary shareholders meeting to increase the share capital of AS Trigon Property Development on terms where all shareholders will be given equal rights to participate in the new share issue, and through which the new property development holdings would be folded into the company based on an independently determined valuation. To be clear this means that the share issue will be carried out at the price prevailing in the market at the time the decision is taken by the shareholders, but any payment for the shares paid for through non-monetary contributions (i.e. property development projects) will be valued based on the independent valuation of the property projects with no premiums attached. As part of this upcoming shareholders meeting, it will also be proposed to the shareholders that the current Chairman of the Supervisory Board, Mr Ülo Adamson, will assume the position as the interim Chairman of the Management Board of AS Trigon Property Development. Aivar Kempi will be appointed a member of the Management Board. The exact time of the upcoming shareholders meeting and the agenda will be announced in due course in a separate stock exchange release.
The management has also carried out the required preparations and expects that the first trading day of the newly registered AS Viisnurk will be 25.09.2007. As part of the required steps, the prospectus of the new AS Viisnurk will be published this week subject to the Estonian Financial Supervision Authority approval.
Ülo Adamson
The Chairman of the Management Board (to be nominated)
+372 51 39 424