Saku Õlletehas                NEWS RELEASE                      03/19/2002



GENERAL MEETING OF THE SHAREHOLDERS



The ordinary general meeting of the shareholders of Saku Brewery

Ltd   took  place  on  19  March  2002  at  11.30  am   in   the

administrative  building  of Saku  Brewery  Ltd,  located  at  2

Tallinna mnt, Saku alevik, Harjumaa.

The  attendees represented 75.55 percent of the company’s voting

stock and the meeting was qualified to adopt decisions.



The general meeting:

1.  approved the annual report for 2001;

2.  approved the previously submitted profit allocation proposal

and procedure for the distribution of dividends;

The meeting decided:

-    to  distribute  a  net  dividend  of  EEK  40,000,000  (EUR

  2  556 466), i.e. EEK 5 (EUR 0,32)per share. Thereat, in  line

  with the rules of Tallinn Stock Exchange, the meeting decided to

  identify the shareholders who are entitled to a dividend based

  on  the list of shareholders at the Tallinn Stock exchange for

  Securities at 8.00 a.m on the 15th stock exchange day from the

  day of the general meeting;

-    to distribute the dividend from the accumulated profits  of

  1994-1999;

-    to  reduce  the net profit for 2000 by dividend  tax  whose

  amount depends on the shareholder structure at the date of the

  distribution;

-    to  increase accumulated profits by the net profit for 2001

  of EEK 55,609,479 (EUR 3 554 093).

-    that  the distribution will take place on 19 April 2002  at

  the latest.

3. decided to recall all members of the supervisory board and

to elect a new four-member supervisory board for three years

until the ordinary general meeting of the shareholders in 2005.

The meeting decided that new members of the board will be Andres

Erm, Vesa Eero Isohanni, Lars Vegard Vonen and Jaak Leimann.

4.  decided to pay members of the supervisory board for the work

done on the board in 2002 and 2001 up to EEK 100,000  (EUR

6391)in aggregate. The procedure for payment will be decided at

a supervisory board meeting.

5.  decided to appoint Andris Jegers and Andres Root as auditors

of the company for one year until the next ordinary meeting of

the shareholders. The auditors will be paid for the audit of

2002 in accordance with the terms of the audit engagement letter

agreed between Saku Brewery Ltd and KPMG Estonia.





Kristina Seimann

PR manager

+372 6 508 303