Tallinna Börs                 NEWS RELEASE                      05/27/2003



CONDITIONAL LISTING OF BALTIKA SHARES



On May 27, 2003 the Tallinn Stock Exchange Listing and Surveillance Committee 

decided to satisfy application of AS Baltika and to list 39 500 additionally 

issued shares of AS Baltika conditionally on the TSE Main List. 

 

The decision becomes effective immediately after registration of company's 

share capital increase at the Commercial Registry and registration of new 

shares at the Estonian CSD. The first listing day of the shares to be listed 

is the first stock exchange day (inclusive) after the decision become 

effective, i.e. the stock exchange day following the registration of shares 

at the Estonian CSD.





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