The RSE Management Board resolved on its meeting of October 24, 2002 to

transfer  JSC  "Kaija"  shares  from  Surveillance  list to Second list

starting  with October 28, 2002. The decision was taken on the basis of

item  11.2.2.4 of the RSE Enforcement Note on Securities Lists. "Kaija"

shares  were transferred to the Surveillance list 21 August 2002 as the

company   has  breached  the  requirements  in  defence  of  investors'

interests as stipulated by item 11.2.2.7 of the RSE Enforcement Note on

Securities Lists.