Tallinna Börs                 NEWS RELEASE                      06/30/2004



DECISIONS OF AGM OF TSE SHAREHOLDERS



Annual general meeting of Tallinn Stock Exchange (TSE) was held on June 30, 

2004.



1. AGM approved the activities and the 2003 financial reports of TSE as well 

as the proposal for profit allocation. According to the proposal, the net 

profit earned by TSE in 2003 in the amount EEK 8.824 million (EUR 0.5639 

million) will be assigned as follows: EEK 0.337 million (EUR 0.0215 million) 

to the account of mandatory legal reserve and EEK 350,000 (EUR 22,369) to the 

guarantee fund. AGM decided to leave the remaining EEK 8.136 million (EUR 

0.5200 million) undistributed and to assign the sum to the account of 

retained earnings.



2. AGM appointed Urmas Kaarlep and Tiit Raimla of PriceWaterhouseCoopers to 

audit the financial reports of TSE in year 2004.

 

3. AGM appointed Jukka Pekka Ruuska (OMHEX), Jouni Sakari Torasvirta (OMHEX), 

Allan Marnot (Hansapank) and Jaak Raivo (Eesti Ühispank) as the members of 

the Supervisory Council of TSE. The following persons will continue as the 

members of the Supervisory Council: Joel Aasmäe (Lõhmus Haavel & Viisemann), 

Allan Martinson (Microlink), Sven Meimer (Central Bank of Estonia) and Teuvo 

Rossi (OMHEX).





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