REVAL HOTELLIGRUPP

ANNOUNCEMENT



SHAREHOLDERS' ANNUAL GENERAL MEETING



The annual general meeting of Reval Hotelligrupi AS (registry code 

10041810, address Tallinn) shareholders will be held on Friday, 

12.05.2000, beginning at 15.00. The AGM will be held in Sigma hall 

of the conference center of hotel Olümpia (Liivalaia 33, Tallinn).



Agenda:

1. Approval of 1999 annual report and profit allocation.



As of 24.04.2000 the annual report is available at the head office 

of Reval Hotelligrupi AS (Narva Rd. 30, Tallinn) during workdays 

from 9.00 to 17.00.



2. Appointment of auditor

3. Approval of Reval Hotelligrupi AS and AS Hotell Olümpia merger 

agreement

4. Amendments to the Articles of Association



To add fields of activity to the Articles of Association due to 

merger of Reval Hotelligrupi AS and AS Hotell Olümpia. 

To adopt the following redaction of article 3.1 of Articles of 

Association:



3.1 (10) trading activities

    (11) selling and buying of foreign currencies



5. Election of Supervisory Board members



All meeting attendants need to present an identification document. 

Representative of a shareholder also needs to present a written 

proxy; a legal representative of a corporate shareholder also needs 

to present a valid excerpt from the Commercial Registry card; a 

legal representative of a corporate shareholder registered abroad 

need to present a written Power of Attorney.



List of shareholders entitled to attend the AGM will be fixed on 

12.05.2000 at 8.00 a.m.

Registration of meeting attendants will begin at the venue of AGM 

30 minutes before the beginning of the meeting.



With all questions regarding the annual general meeting, please 

contact us at +372 62 74 444.





Feliks Mägus

Management Board chairman

+372 62 74 444