HARJU ELEKTER

ANNOUNCEMENT



SUPERVISORY BOARD DECISIONS



On 18.08.2000 the Supervisory Board of AS Harju Elekter decided:



1. Aiming to motivate AS Harju Elekter employees, to issue share options to 

AS Harju Elekter employees and executives, and members of the Management 

Boards of its subsidiaries and associated companies as of 21.08.2000, 

according to the decision of 27.04.2000 annual general meeting of AS Harju 

Elekter shareholders 



2. Harju Elekter will issue up to 200,000 (two hundred thousand) options, 

whereas each option entitles to one AS Harju Elekter share with EEK 10 (ten) 

par value.



3. Subscription period: 21.08.-29.09.2000.



4. Option exercising price is EEK 40.-, which is the average weighted price 

of Harju Elekter shares on the Tallinn Stock Exchange on 17.08.2000.



5. Option is European Option.



6. Expiration date is 30.09.2002.



7. shares to be issued entitle the shareholders for dividends as of 2002 

financial year.



Endel Palla

Chairman of Supervisory Board

+372 67 47 400





Lembit Libe

chief economist

+372 67 47 412