Eesti Telekom                 NEWS RELEASE                07/01/2003 10:15



NAME CHANGE OF A SUBSIDIARY



On June 30, 2003, the Registration Department of Tallinn

City Court renamed  AS Eesti  Telefon,  a  fully owned

subsidiary  of  AS  Eesti Telekom,  Elion Ettevõtted

Aktsiaselts (Elion Enterprises Limited). Company´s brand

will be Elion in August.



The  new  brand will replace all the existing  brands  of

Eesti  Telefon  (Atlas,  et, Hot),  except  the  Internet

search   engine   NETI,  making  company´s  communication

clearer and more effective.





Hille Võrk

Financial Manager

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