AS Klementi            ANNOUNCEMENT            16.12.2005



Changes in the Management Board of AS Klementi



The supervisory board of AS Klementi decided to extend

the management board of the company



The supervisory board of AS Klementi renewed a contract

with the current director, Toomas Leis, and extended the

management board by two new members:



Peeter Larin – employed as a marketing director of AS

Klementi since May 2004. Until taking on the position in

the company, Peeter Larin worked as the “Monton” brand

manager of AS Baltika from September 2003 to April 2004.

Before that Peeter Larin worked as the R&D manager of AS

Balitka. Peeter Larin holds 20,000 shares in AS Klementi.

Peeter Larin is also a member of the management board of

GCFashion OÜ.



Marianne Paas – employed as a CFO of AS Klementi since

July 2004. Until taking on the position in the company,

Marianne Paas worked as the director of the accounting

unit of Enterprise Estonia from June 2002 to June 2004.

Before that Marianne Paas worked as the CFO and

management board member of AS Viru Õlu from September

1993 to June 2002. Marianne Paas is not a shareholder of

AS Klementi. Marianne Paas has not been elected to the

directing bodies of any other business.



The supervisory board of AS Klementi nominated Toomas

Leis chairman and Peeter Larin vice chairman of the

management board. The term of office of the management

board is three years.







Toomas Leis

CEO of AS Klementi

tel.+ 372 6 710 700