PRO KAPITAL

ANNOUNCEMENT



RESOLUTIONS OF ANNUAL GENERAL MEETING OF DOMINA SHAREHOLDERS



The annual general meeting of Domina Hotel e Comproprieta Alberghiere 

S.p.A shareholders was held on 29.05.2000 in Milan.



The AGM discussed the approval of the annual report as of 30.11.1999; 

appointment of Management Board and auditors.



Altogether 78.78% of votes represented with shares were present in 

the meeting, thus the AGM was competent to pass resolutions.



Domina's shareholders approved the company's annual report and 

balance sheet as of 30.11.1999, and also the Management Board's 

proposal to cover the net loss in the amount of ITL 1,022,339,427 or 

EEK 8,178,715 (29.05.2000 Bank of Estonia exchange rate 1 ITL = 0.008 

EEK) from the account of extraordinary reserves.   



The AGM also appointed a new Management Board to Domina, including 

Luca Antonio Milani, Vincenzo Presti, Romolo Franceschi, Pierpaolo 

Cesaroni and Giuliano Urbani. The former Management Board member 

Ernesto Preatoni did not apply for this position this year, as Mr. 

Preatoni considers his goals on development of the company met. The 

annual salary of the Management Board is ITL 270,000,000 or EEK 

2,160,000. 



The AGM appointed Marco Barbieri, Elisabetta Corvi and Alessandro 

Beccaro to audit the company's financial reports of Domina, to be 

replaced by Domenico Smaldone and Bruno Broccardi, if necessary.



The direct issue of Pro Kapital shares to Domina Hotel e Comproprieta 

Alberghiere S.p.a shareholders will last until 15.06.2000. In the 

course of this issue Pro Kapital will acquire majority holding in 

Domina, and Domina will become Pro Kapital group's Italian subsidiary. 



On 11.04.2000 annual general meeting, the shareholders of AS Pro 

Kapital decided to increase the company's share capital by EEK 

144,000,000 through issue of new shares. In order to increase share 

capital, Pro Kapital will issue 14,400,000 new nominal shares at EEK 

10 par value to the owners of Italian company Domina Hotel e 

Comproprieta Alberghiere S.p.a.





Andrus Laurits

CEO, Pro Kapital

+372 6144920