PRO KAPITAL GRUPP

ANNOUNCEMENT



PKG TO DISPUTE TSE LISTING COMMITTEE DECISION



Pro Kapital Grupp filed a statement of claim with the Tallinn 

Stock Exchange Court of Arbitration to dispute the Tallinn 

Stock Exchange Listing Committee decision of delisting the 

securities of AS Pro Kapital Grupp. Attorney at law Aivar 

Pilve was appointed by Pro Kapital Grupp to represent the 

company in the Tallinn Stock Exchange Court of Arbitration.



Pro Kapital Grupp claims for;



1. In order to secure the action prohibit the Tallinn Stock

Exchange to realize the Tallinn Stock Exchange Listing

Committee's decision from 28.08.2001 No. 1/06-2001

article 1, whereby AS Pro Kapital Grupp securities 

were to be delisted on 29.09.2001.



2. In order to secure the AS Pro Kapital Grupp statement of 

claim before formation of the Arbitration Court ask

the Council of the Tallinn Stock Exchange Court of 

Arbitration to file a corresponding application with

Tallinn City Court.



3. The Council of the Tallinn Stock Exchange Arbitration 

Court to reduce the Arbitration Court fee, and to determine 

the fee for the Tallinn Stock Exchange Arbitration Court

in the amount of EEK 300,000.



4. Fully annul the Tallinn Stock Exchange Listing Committee's 

decision from 28.08.2001 No. 1/06-2001, whereby AS Pro Kapital 

Grupp securities were to be delisted on 29.09.2001.



5. Distribution of costs for legal assistance claiming  

the Tallinn Stock Exchange for registration fee, Arbitration 

Court fee, and costs for legal assistance (list of court 

expenses will be submitted at the Arbitration Court sitting).





Aivar Pihlak

PK Grupp, Board member

+372 614 4920