Eesti Telekom                 PÖRSSITIEDOTE                     24.04.2002



PROFIT ALLOCATION PROPOSAL



The net profit of AS Eesti Telekom was 809,867 thousand kroons 

according to the Estonian Accounting Law (EAL) in 2001. 

According to the International Accounting Standards (IAS) the 

net profit amounted to 778,935 thousand kroons.



The company’s distributable funds totalled 1,847,790 thousand kroons.



The Council has approved the Management Board’s proposal that 

the distributable funds for 2001 of 1,847,790 thousand kroons, 

according to EAL, be allocated as follows:



1.	755,617 thousand kroons, i.e. 97 % of the net profit 

(IAS) to be distributed to shareholders as dividends as follows:



1.1.	There are 137,383,178 A-shares with the title to 

dividends. Dividends for A-shares to be distributed 

755,607 thousand kroons or 5.50 kroons per share.

1.2.	There is one B-share with the title to dividends. 

Dividends for B-share to be distributed are 10,000 kroons.



2.	Left to be carried forward in the balance sheet is 

1,092,173 thousand kroons.





Hille Võrk

Financial manager

+372 6311 212