Announcement to the Copenhagen Stock Exchange

Aarsleff has entered into a contract for the extension of the container terminal at Muuga Port, nearby Estonia’s capital Tallinn. The port in Tallinn is among the largest in the Baltic Sea region and consists of several ports of which Muuga is the largest.

The extension is part of a major plan for Muuga Port and consists of the execution of a new quay, sand reclamation and dredging. The contract will be carried out in a cooperation between the Danish company Rohde Nielsen A/S and Estonian KMG Inseneriehituse AS.

Aarsleff is to build the 800 metres of quay wall which consist of driven sheet piles and steel pipe piles. In addition, Aarsleff is to execute the revetment works consisting of 30,000 cubic metres of quarry stones. The partners are to execute sand reclamation, dredging and concrete works.

The contract is won in an international invitation to tender, and the total contract amount is DKK 430 million of which Aarsleff’s share amounts to DKK 200 million. The work is commenced now and is expected to be completed in 18 months.

The contract does not give rise to a change in the outlook for the profit for the financial year that ends on 30 September 2008.