Viisnurk                      NEWS RELEASE                      05/31/2004



CLOSING DOWN THE SPORTS GOODS DIVISION



According to the restructuring plan of Viisnurk AS, its Sports Goods

Division will be gradually closed down during the period from 31 August to

31 October 2004. The division will terminate all production after the

complete fulfilment of orders for the coming skiing season. In connection

with the termination of division’s activity 248 of its employees will

today receive their notice of dismissal.



At the same time the company continues negotiations with potential

investors for selling the division as a working company or in separate

assets after the fulfilment of all contractual obligations before its

customers.



Economic activities of the Sports Goods Division resulted in the net sales

of 7.5 m kroons (0.5 m euros) and the loss of 4.6 m kroons (0.3 m euros) 

in the 1st quarter.





Andrus Aljas

CFO

+372 447 8355