Tallinna Börs                 NEWS RELEASE                      12/05/2003



ABOUT QUALIFYING HOLDING IN FARMAATSIATEHAS



After inquiries by Tallinn Stock Exchange and Estonian CSD, the notice of 

acquisition of a qualifying holding in Tallinna Farmaatsiatehase AS, issued 

by Ieva Abolina on 28 November 2003, arrived at the Estonian CSD on 

3 December 2003.



In compliance with §§ 185 and 187 of the Securities Market Act, Ieva Abolina 

sent a notice via Hansabanka to the person maintaining the share register of 

Tallinna Farmaatsiatehase AS to the effect that her holding in Tallinna 

Farmaatsiatehase AS increased to over 10% of all votes represented by shares, 

and thus exceeded the threshold of a qualifying holding.



According to the notice, Ieva Abolina acquired 87,500 shares of Tallinna 

Farmaatsiatehase AS on 4 November 2003 and her total holding after the 

transaction is 150,000 shares in the company, accounting for 12% of its share 

capital. All these shares are kept in Hansabanka Clients nominee account.





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