SAKU ÕLLETEHAS

ANNOUNCEMENT



RESOLUTIONS OF SHAREHOLDERS' ANNUAL GENERAL MEETING



1. Approval of 2000 annual report

     

Resolution: To approve the 2000 annual report





2. Profit allocation



Resolution:  To approve the proposal for profit allocation 

and the amount paid to net dividends as follows:

          

Net profit:                                     EEK 73,955,035

Amount to be allocated between shareholders:    EEK 40,000,000

(dividends EEK 5 per share)



To pay the dividends from the retained earnings of 1994-1999.

To increase retained earnings by the net profit for 2000 

of EEK 73,955,035.



Resolution: To approve the order of dividend payments as follows:

According to the Rules and Regulations of the Tallinn Stock 

Exchange, the list of shareholders entitled for dividend payments 

for 2000 financial year will be determined in accordance with the 

shareholders' list at Estonian Central Depository for Securities as 

of 15th stock exchange day after the day of AGM at 8:00 a.m.



Dividend payments will be made not later than on 02.05.2001.





3. Amendments to Articles of Association



Resolution:  To amend Articles of Association and approve the new 

wording as follows:



Current wording                 New wording

                                

5.1.1. The Supervisory Board    5.1.1. The Supervisory Board plans 

plans the Company's activity,   the Company's activity, incl. 

incl. approval of long-term     approval of long-term strategic 

strategic plans, next year's    objectives, next year's budget

business plan and budget.       and investments.         

5.1.5. The Supervisory Board    5.1.5. The Supervisory Board 

approves the Rules and 		  performs supervision over the 

Regulations for the Management  Management Board's activity.

Board and performs supervision    

over the Management Board's 

activity.

5.2. first article:             5.2. first article:

The Supervisory Board of the    The Supervisory Board of the

Company consists of 5 to 7      Company consists of 3 to 5 members.

members.

5.2. second article:            5.2. second article:   

Election of the Supervisory     Election of the Supervisory Board 

Board members is carried out    members is carried out by the 

by the Company's Annual General Company's Annual General Meeting 

Meeting of shareholders for     of shareholders for three-year terms.

one-year term. A person to be   A person to be elected member of 

elected member of the 		  the Supervisory Board has to present 

Supervisory Board has to present a written consent.

a written consent.                               

6.3. second article:            6.3. second article:

Members of the Management Board Members of the Management Board are 

are selected by the Supervisory selected by the Supervisory Board for 

Board for one-year term.        three-year terms. A person to be elected

A person to be elected member   member of the Management Board has to

of the Management Board has to  present a written consent.

present a written consent.

6.3. sixth article:             6.3. sixth article:

Relationships between  		  Relationships between Management Board 

Management Board members and    members and work allocation is determined  

work allocation is determined   by the Management Board decision, to be

by the Rules and Regulations,   approved by the Supervisory Board, 

to be approved by the 		  if necessary.

Supervisory Board.         



4. Recalling and election of Supervisory Board members



Resolution: To recall all members of the Supervisory Board:

1. Andres Erm

2. Lars Vegard Vonen

3. Karl Anders Torell

4. Vesa Eero Isohanni

5. Jaak Leimann

     

Resolution: To elect 4 members to the Supervisory Board.

     

Resolution: To elect the following members to the Supervisory Board:

1. Andres Erm

2. Lars Vegard Vonen

3. Vesa Eero Isohanni

4. Jaak Leimann

     

Resolution: To remunerate the Supervisory Board members in year 2001 

in total amount of up to EEK 100 000.

     

The exact terms of remuneration will be determined on Supervisory Board

meeting along with review of results for 2000 and annual report

completed by the Management Board.





5. Appointment of auditors



Resolution: To appoint 2 auditors for period of 1 year (until next AGM).

To appoint Andres Root and Andris Jegers of KPMG Estonia to audit 

the company's financial statements in year 2001.     

     

Resolution: To remunerate the auditors in accordance with the price 

list of KPMG Eesti and respective agreement to be concluded.





Ruth Roht

PR manager

+372 6 508 303