Eesti Telekom                 NEWS RELEASE                      09/25/2003



COMMENTS ON ÄRIPÄEV-ONLINE NEWS



On   September   25,  2003,  having  a  presentation   at

conference "Business Plan 2004", Valdo Kalm, CEO of Elion

Enterprises  Ltd, a fully owned subsidiary  of  AS  Eesti

Telekom, announced that the company forecasts no  revenue

growth  in  2004.  At  the same time,  redistribution  of

revenues between voice communications and Internet,  data

communications and IT continues. Elion Enterprises Ltd is

intended to improve its profitability in 2004.



AS  Eesti Telekom confirms that the information published

at  the conference is in accordance with business plan of

the  Group for the coming years. In conformity  with  our

investor  relations  strategy we  publish  no  additional

information on financial targets of Elion Enterprises Ltd

or any other company of the Eesti Telekom Group.





Hille Võrk

Financial Manager

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