HARJU ELEKTER

ANNOUNCEMENT



FINANCIAL RESULTS 03/2000, PROPOSALS TO AGM



On preliminary information, the consolidated net sales of AS Harju 

Elekter in Q1 2000 amounted to EEK 36.6 million and operating profit 

EEK 4.4 million (117% and 118% of last year's results, respectively). 

Complete consolidated Q1 financial reports will be published on week  

17.



Some publications have recently published incorrect information, 

stating that Harju Elekter will not pay dividends for year 1999. We 

hereby confirm:



1) Management Board of AS Harju Elekter will make a proposal to the 

annual general meeting of shareholders to pay dividends EEK 3.00 per 

share for year 1999;

2) in addition to payment of dividends, Harju Elekter will also conduct 

a stock dividend issue, where each shareholder will receive two new 

shares for each currently owned share;

3) list of shareholders will be closed for payment of dividends for 

year 1999 and participation in stock dividend issue on 12.05.2000, 8:00 

a.m.;

4) new share will entitle the shareholders for dividends as of year 

2000.





Endel Palla

Supervisory Board chairman

+372 67 47 400





Lembit Libe

Chief Economist

+372 67 47 412