Eesti Telekom                 NEWS RELEASE                      03/06/2003



DECISIONS OF SUPERVISORY BOARDS



On  March  4  2003,  the Annual General  Meeting  of  the

shareholders of AS Eesti Telefon recalled Timo  Virtanen,

Mart  Nurk, Jaan Männik and Krister Björkqvist  from  the

Supervisory Board. The Meeting elected as new members  of

the  Supervisory Board Erik Hallberg, Morgan Ekberg,  and

Lars  Klasson, representing TeliaSonera, and Jaan  Männik

and Krister Björkqvist, representing AS Eesti Telekom.



On  March 4 2003, also the Annual General Meeting of  the

shareholders  of AS EMT took place. The meeting  recalled

Lauri  Holopainen, Lars Klasson, Jaan Männik and Avo  Ots

from  the Supervisory Board. The Meeting elected  as  new

members  of  the Supervisory Board Erik Hallberg,  Morgan

Ekberg,  and Lars Klasson, representing TeliaSonera,  and

Jaan Männik and Krister Björkqvist, representing AS Eesti

Telekom.



Representative  of  the state may  be  nominated  to  the

Supervisory Boards of AS Eesti Telefon and AS EMT  during

the next couple of weeks.



The  year  2002 was altogether successful for  the  Eesti

Telekom  Group. The Group belongs to the most  profitable

companies in the sector of telecommunications in  Europe.

But  one  must not forget the limited size of the  market

and  strong  competition, which  makes  it  strategically

important to establish bases for higher efficiency of the

companies of the Group and their tighter integration.



The  meeting of the Supervisory Board of AS Eesti Telekom

held  on  March  5 2003, extended for a period  of  three

years  the  Management Board member's  contract  of  Jaan

Männik,  Chairman  of the Management Board  of  AS  Eesti

Telekom.  In  accordance with the company's  articles  of

association, three-year contracts are signed with members

of  the  Management  Board,  and  Jaan  Männik's  present

contract ends on 31 August 2003.



AARE TARK

Chairman of the Council of AS Eesti Telekom





Hille Võrk

Financial Manager

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