Tallinna Börs                 NEWS RELEASE                      01/27/2003



CHANGES IN SUBSTANTIAL SHAREHOLDINGS



As of 27.01.2003 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    27.01.2003 

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

Baltika (5 444 450 shares)



   Nordea Bank Finland Plc Clients Account Trading

                                      below 5           5.11



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





Tallinn Stock Exchange

Market Services

+372 640 8800