Norma                         NEWS RELEASE                02/18/2004 15:00



AGENDA OF GENERAL MEETING



The management board of AS Norma, seat Laki 14, Tallinn, summons the annual 

general meeting of shareholders to be held at 9.00 on 18.05.2004 at 

Rävala pst 8, Tallinn.



 Agenda of general meeting of shareholders



.Approval of AS Norma annual report for the financial year 2003.



The management board proposes to the general meeting of shareholders to 

approve the annual report for the financial year 2003.

The annual report of AS Norma for the financial year 2003 is available for 

the shareholders to examine until 17.05.2004 at the address Laki 14, Tallinn,

on the ground floor of Block B at 8.00-16.00 on workdays (entrance from 

Kadaka street)after publish it through the information system of Tallinn 

Stock Exchange.



2. Profit distribution



The net profit of AS Norma for the year 2003 is EEK 128,332,544 

(EUR 8,201,923).

The proposal, as approved by the supervisory board, is to retain the net 

profit of the year 2003.



Shareholders are to paid dividends of 50% of the nominal value of shares in

the amount of EEK 66,000,000 (EEK 5 per share), i.e. EUR 4,218,158 

(EUR 0.32 per share). Dividends shall be paid out of the retained net profit

for the previous years. The date of finalising the list of 

shareholders entitled to dividends shall be decided by the general meeting 

of shareholders.

The list of shareholders entitled to dividends in accordance with the 

proposal of the management board shall be finalised at 8.00 hours 

on 01.06.2004.



3.Amendments to the Articles of Association.



To amend article 5.1. of AS Norma Articles of Association and to formulate 

aforementioned article as follows:

    5.1. The Management Board is a directing body of the Company, which 

represents and directs the Company. The Management Board consists of five 

(5) to eight (8) members.



4. Appointment of auditor and determination of the procedure for 

remuneration of auditor

To elect auditors of AS Norma from AS PriceWaterhouseCoopers for the 

term of 1 (one) year. The Council shall resolve on the compensation of and

shall conclude an agreement with the auditors.



Shareholders who have been entered in the share register of AS Norma as 

shareholders or, in case of jointly held shares, representatives of 

shareholders as of 8.00 on 18.05.2004 may participate in the general meeting.

A shareholder may participate in the general meeting either personally or 

through a representative who holds an appropriate written authorisation.

The following documents are to be presented upon registration:

Shareholders who are natural persons are to present an identity document.

Representatives of shareholders who are natural persons are to present 

a written power of attorney and an identity document.

Representatives of legal persons are to present a valid, certified copy 

of the commercial registry card (legal authorisation) and an identity 

document of the representative, or a properly executed power of attorney

(authorisation arising from transaction) and an identity document of the

representative (the documents of a legal person registered in a foreign 

country and of a representative of such person are required to be legalised 

by the Ministry of Foreign Affairs or by a foreign mission of the Republic 

of Estonia or certified with an apostille that substitutes for legalisation).

A passport or other identity document containing the photograph, name, 

and personal identification code of the person and the name of the state

agency having issued the document is acceptable as an identity document.



Registration of participants in the general meeting of shareholders begins 

at 8.30 hours on 18.05.2004 at the place of the general meeting of 

shareholders.



Further information about the general meeting of shareholders is available 

by telephone on the number 6 500 442.





Peep Siimon

Chairman of Management Board

+372 6500 442