Tallinna Börs                 NEWS RELEASE                      08/16/2004



CHANGES IN SUBSTANTIAL SHAREHOLDINGS



As of 16.08.2004 the following significant changes have taken place 

in the ownership structure of the companies listed on the Tallinn 

Stock Exchange, compared with the standings disclosed earlier.

 

The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be 

significant.

 

 

Issuer                       Previously     Per cent of 

                     disclosed per cent    shares as of

   Shareholder                of shares      16.08.2004 

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Tallinna Farmaatsiatehas (1 250 000 shares)



   Grindeks Plc                   54.96           93.45

   Hansabanka Clients             20.06         below 5

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