TALLINN STOCK EXCHANGE

ANNOUNCEMENT

 

CHANGES IN SUBSTANTIAL SHAREHOLDINGS

 

As of 02.01.2001 the following significant changes have taken place 

in the ownership structure of the companies listed on the Tallinn 

Stock Exchange, compared with the standings disclosed earlier.

 

The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be 

significant.

 

 

Issuer                              Previously   Per cent of  

                            disclosed per cent  shares as of

   Shareholder                       of shares    02.01.2001

--------------------------------------------------------------

Tallinna Kaubamaja (6 788 200 shares)

 

   NG Investeeringud AS                32.42          35.1

      NG Investeeringud AS                               34.62

      AS NG Investeeringud	                          0.48

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Hansapank (78 764 434 shares)

 

   Handlowy Investments                 5.44        alla 5

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TSE