Tallinna Börs                 NEWS RELEASE                12/13/2002 16:40



CONSOLIDATION OF TSE COMMITTEES



On December 13, Tallinn Stock Exchange (TSE) Council decided on its meeting 

to support the Management Board proposal of forming a single Listing and

Surveillance Committee.



The single committee shall be responsible for listing and delisting of

securities, and surveillance of listed companies and member firms, incl.

imposing sanctions, pursuant to TSE Rules.



Consolidation of the committees allows organising their activities more

efficiently. The move is also done in relation to much improved securities

market legislation as well as foundation of the unified state Financial

Supervision Authority in 2002.



Authority of the single committee shall enter into force after

chapters "Supervision" and "Listing Requirements" of the TSE Rules have been

amended and approved by the Financial Supervision Authority.



New members of the Listing and Surveillance Committee were elected as follows:



Mart Habakuk -     Estonian Business School, Supervisory Board chairman

Kristel Kivinurm - AS Trigon Markets, Management Board member, Director

Kalle Norberg -    AS Suprema Securities, Management Board member, 

                   Director of Private Banking

Henn Oit -         Bank of Estonia, Head of Financial Market Dpt

Sven Papp -        Law firm Raidla & Partnerid, advocate

Erkki Raasuke -    AS Hansapank, Management Board member, 

                   AS Hansabank Markets CEO

Indrek Rahumaa -   OÜ Alta Holding, CEO, 

                   AS Klementi Supervisory Board chairman

Riho Rasmann -     AS Tallinna Sadam (Port of Tallinn), CEO





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