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Estonian Golf & Country Club started the third issue of shares

Monday, May 10, 2004 - 13:30

AS EGCC has started up the third issue of shares on 10 May 2004. The issue of shares will last till 31 August 2004. 110 shares/150 playing rights are on sale. Prices vary from 7,650 EUR for a small private share to 32,000 EUR for a large business share. All types of shares are also available without a maintenance fee for investors who are not interested in playing. This uncommon practice has been made possible bylarge green fee revenues, which are to expected. EGCCs golf shares are in very good demand. During the two previous issues, all 352 playing rights on sale were sold. The next and the final issue will take place in the year 2005, when the golf course will be ready.

SRV International started construction of the 27-hole course in the spring of 2003. The golf course is situated on the seashore in Joelähtme District, 23 km from Tallinn to the east. The whole area under development covers over 100 hectares. The place is very beautiful and historically valuable, the landscape has up to 40 meters difference in levels. The golf course will be built according to the standards of US Golf Association and will have all necessary services required for a modern golf course. In addition to the golf course, cottage houses will be built all around the territory of EGCC.

For more information about the issue of shares and the golf course, please visit the website of AS EGCC: www.egcc.ee

Contact persons:

Mr Mika Kolho, Project Manager, SRV International Ltd
Mob. +358 40 770 3599, e-mail: mika.kolho@srv.fi
Mrs Kylliki Masa, Assistant, AS EGCC
Tel. +372 666 2121, fax +372 666 2120, e-mail: info@egcc.ee