TALLINN STOCK EXCHANGE

ANNOUNCEMENT

 

CHANGES IN SUBSTANTIAL SHAREHOLDINGS

 

As of 27.03.2000 the following significant changes have taken place 

in the ownership structure of the companies listed on the Tallinn 

Stock Exchange, compared with the standings disclosed earlier.

 

The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be 

significant.

 

 

Issuer                              Previously    Per cent of  

                            disclosed per cent   shares as of     

  Shareholder                        of shares     27.03.2000

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Estiko (5 978 146 shares)

 

  Dennis Wells Investments Corp.        14.45          21.32

  Falken Limited S.A                     5.84        below 5

 

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Eesti Ühispank (66 562 381 shares)

 

  Bankers Trust Company                 19.65           6.52

     Bankers Trust Company Reg.S                           0.62

     Bankers Trust Company Rule 144a                       5.90

 

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Tallinna Kaubamaja (6 788 200 shares)

 

  AS Hansapank                        below 5           5.22

 

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TSE