AS EESTI TELEKOM

ANNOUNCEMENT 

26.02.99

 

 

ESTONIAN TELECOM IPO

OVER ALLOTMENT OPTION EXERCISED IN FULL

 

Minister Raivo Vare, the Minister of Transport and Communications of 

the Republic of Estonia, today announced that ABN AMRO Rothschild, on 

behalf of itself, Nomura International plc and other managers of the 

international offering of Estonian Telecom, has exercised in full the 

option to purchase 4,697,609 shares to cover over-allotments.

 

Accordingly, the total number of Estonian Telecom shares sold has 

increased to 36,015,000, raising a total of US$221.5 million.

 

Minister Vare, Minister of Transport and Communications of the 

Republic of Estonia,  said:

“The full exercise of the over-allotment option reinforces investors’ 

trust in Estonian Telecom and brings this landmark Baltic transaction 

to a successful conclusion.”

 

 

 

For further information:

 

Raul Kalev

Estonian Telecom Limited

Telephone:  +372 646 0220

 

Elisabeth Ballard		Europe (except Scandinavia, the Baltic region) and US

Hill & Knowlton, London 

Telephone: +44 171 413 3130

 

Peep Muhls			Baltic Region and Scandinavia

Hill & Knowlton, Estonia

Telephone: +372 611 2450

 

James Kenny

ABN AMRO Rothschild

Telephone: +44 171 374 1208

 

Michael Boardman

Nomura International

Telephone: +44 171 521 2733

 

Targo Raus

Eesti Uhispank

Telephone: +372 611 0810