Estiko                        NEWS RELEASE                      05/26/2003



ANNUAL GENERAL MEETING OF SHAREHOLDERS



Annual  general  meeting of AS Estiko shareholders will be held on 16.06.2003

at  Emajõe  Business  Centre,  13th floor  (Soola St. 8, Tartu), beginning at

10:00 a.m.



Agenda of the meeting:



1. Approval of the 2002 Consolidated Annual Report.

2. Deciding the loss covering.

3. Appointment of auditor for financial year of 2003.

4. Approval of dividends on preferred shares in year 2003.

 



The  suffrage  of  the  shareholder at the general meeting will be determined

on  the  basis  of  the  shareholders'  list  as of 16.06.2003 at 08:00  a.m.

The  registration  of  the  participants  of the meeting will start on the 16

of June at 9:00 a.m.



Upon  registration   the   legitimate  representatives   of   the   corporate

shareholders  are  asked  to  submit  the documents which would approve their

right to representation.  For  the  board members of a corporate body it is a

copy   of  the  registration   card  of  the   company,  for  the  authorized

representatives it is the authorization from the board or its substitute  and

a copy of the registration card of the company.  The  document  for  personal

identification will be required. The individual shareholders will be asked to

submit  the  document  for  personal identification, a representative will be

asked to submit also the authorization. 



The  Annual Report 2001 will be available for viewing at Internet homepage of

Tallinn  Stock  Exchange  (www.tse.ee) and on every workday from 9:00 a.m. to

3:00 p.m. at the office of AS Estiko, 16 Tehase St, Tartu.



For any  further questions concerning  the general meeting, please contact us

by telephone +372 7 308 300.





Ellen Tohvri

Member of the Board

+372 7 308 300