KALEV

ANNOUNCEMENT



ANNUAL GENERAL MEETING OF SHAREHOLDERS



In accordance with the Supervisory Board decision the Annual General 

Meeting of AS Kalev shareholders will be held on 13.06.2001 at 11:00 

in Tallinn, Pärnu St.139.



Agenda of the meeting:

1. Approval of the 2000 Annual Report.

2. Amendments to the Articles of Association.

3. Election of Supervisory Board members.

4. Appointment of auditor.



Supervisory Board approved chairman's proposal for profit distribution 

as follows:

- To transfer EEK 1,045,874 from the net profit to the reserve fund account.

- To cover the loss of previous periods from the reserve fund as well as 

on the account of the remaining portion of the net profit.



Supervisory Board proposal for amendments to the Articles of Association:

Chapter 2 THE AREA OF ACTIVITY

To supplement Article c) with "customs broker services" and Article e) with

"catering".





Rutt Panga

Supervisory Board assistant

+372 628 3853