BALTIKA

ANNOUNCEMENT



DECISIONS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS



On 31.03.2000 the annual general meeting of AS Baltika shareholders :



1. Adopt the 1999 annual report and auditor's report.



2. Approve the profit allocation proposal as follows: 

2.1. pay EEK 2,400,000 in dividends, i.e. EEK 0.50 per share; 

transfer EEK 17,415,885 to retained earnings

2.2. list of shareholders will be closed for dividend payments 

on 15.04.2000, at 8:00 a.m.

2.3. dividend payments will be made within two months.



3. Appoint Urmas Kaarlep and Hanno Lindpere of AS PriceWaterhouseCoopers 

to audit the company's financial reports in years 2000-2002. 



4. Remunerate the Supervisory Board members as follows:

4.1. Supervisory Board chairman: 15% of CEO's monthly salary,

4.2. Supervisory Board members: 10% of CEO's monthly salary.



Management Board forecasts to earn EEK 240 million in revenues and 

EEK 23.5 million of operating profit in year 2000.



45 shareholders attended the meeting, representing a total of 3,120,601 

shares or 65.0125% of total votes.





Ülle Järv

Member of the Management Board

+372 63 02 741