PRO KAPITAL GRUPP

ANNOUNCEMENT



ABOUT MANAGEMENT BOARD DECISIONS



AS Pro Kapital Grupp Management Board meeting was held on 14.08.2001.



Members of the Management Board made a decision as follows:



To propose the company's Supervisory Board to convene the

extraordinary meeting of shareholders in order to cancel

the decision of share capital increase, made on 29.06.2001.





Aivar Pihlak

Board member, PK Group

+372 614 4920