Viisnurk                      NEWS RELEASE                      10/16/2002



CHANGES IN THE MANAGEMENT BOARD



At the meeting of the supervisory board of Viisnurk AS on October 16, 

2002, with the participation off all the board members, it has been 

decided to satisfy the request made by Mr Meelis Kukk, chairman of 

the management board, to resign from the post of the chairman of the 

management board and to elect Mr Tiit Arro as a new member of the 

management board as well as the chairman of the management board. 

Tiit Arro was elected a member of the management board of Viisnurk AS 

for a three-year term of office with his mandate commencing 

16.10.2002. 



The members of the supervisory board of Viisnurk AS as well as Meelis 

Kukk are in the opinion that due to changes in market conditions and 

in view of the targets set for the company, it is essential to 

improve the management competence at Viisnurk. Mr Tiit Arro as the 

new supervisory board chairman will bring to Viisnurk his extensive 

experience in sales and marketing as well as in management of 

customer relations. The parties have agreed that Meelis Kukk shall 

continue working for Viisnurk AS in the field of analysis and 

planning of strategic projects. 



Tiit Arro (40) was born in Tartu, is a graduate of Tartu Karlovo 

College  (1980) and of Tallinn Technical University (1985) in 

building engineering. Tiit Arro has been working for companies 

focused on marketing and customer services. Amongst other 

positions he has served as a managing director of Ericsson 

Estonia Ltd., chairman of the supervisory of Telefonipood, and 

manager of a subsidiary of Scandic Hotels Estonian Ltd. 

(formerly Finest Hotel Group). Team work and co-operation with 

customers and suppliers abroad in such companies has provided 

him with a strong sense of international business culture.



Additional information: 

Toomas Reisenbuk 

Chairman of supervisory board 

+3726676230





Andrus Aljas

CFO

+3724478355