XXL.EE

ANNOUNCEMENT



SHAREHOLDERS' EXTRAORDINARY GENERAL MEETING



The extraordinary general meeting of AS XXL.EE (registry code 10040414, 

address Tartu Rd. 87D, Tallinn) shareholders will be held on 29.04.2000, 

beginning at 12:00, at Pärnu Rd. 139, Tallinn.

 

Agenda:



1.

1.1.	to increase the share capital of AS XXL.EE by EEK 10,000,000, through 

issue of 1,000,000 new shares at par value of EEK 10 and premium of EEK 24.

1.2.	to direct the issue to European Bank of Reconstruction Development 

(EBRD) and to Cresco Ventures AS.

1.3.	to authorize EBRD to subscribe for 897,060 shares and Cresco Ventures 

AS for 102,940 shares.

1.4.	to exclude the pre-emptive right of other shareholders.

1.5.	the subscription period is 12.05.-26.05.2000. The subscription will 

take place at head office of AS XXL.EE.

1.6.	the payment for subscribed shares will be made by 01.07.2000.

1.7.	EBRD will make a payment to the bank account of AS XXL.EE for the 

subscribed shares.

1.8.	Cresco Ventures AS will make a non-monetary payment for subscribed 

shares through conversion of debt into share capital.

1.9.	to authorize the Management Board to extend the subscription and 

payment period, or to cancel the unsubscribed shares.

1.10.	the shares to be issued entitle the shareholders for dividends as of 

financial year 2000.



All EGM attendants must present an identification document (passport or 

driver's license), whereas the representatives also need to present a proxy; 

the corporate shareholders must present an excerpt from Commercial Registry 

card, whereas the representatives also need to present identification 

document and proxy.



The list of shareholders will be closed for participating at EGM on 

28.04.2000, at 08:00 a.m. Registration of AGM attendants will take begin 30 

minutes before the beginning of EGM.





Arho Anttila arho@xxl.ee

CEO

+372 6 507 500