REVAL HOTELLIGRUPP

ANNOUNCEMENT



RESOLUTIONS OF SHAREHOLDERS' EXTRAORDINARY GENERAL MEETING



On 06.10.2000 the shareholders of Reval Hotelligrupp held the 

extraordinary general meeting. 5 shareholders and proxies attended 

the meeting, who represented altogether 91.066% of the votes 

represented with shares. 



The EGM voted on recall and election of Supervisory Board members. 



The EGM made the following resolutions:



1. to recall the following members of the Supervisory Board: Tarmo 

Sumberg, Joakim Helenius, Piret Raudsepp, Mart Kirsipuu and Toomas 

Leis.



2. to elect the following members to the Supervisory Board: Egil 

Bauer-Nilsen, Rune Enge, Karl Otto Skogland, Rune Flesland, Mart 

Kirsipuu and Toomas Leis. The new Supervisory Board members will step 

into office as of 07.10.2000.



The new Supervisory Board will hold its first meeting on 11.10.2000 

and is expected to elect Mr. Egil Bauer-Nilsen, president of Reval HG 

core investor Linstow International, as its new chairman. After core 

shareholder's approval to the company's new management structure the 

Management Board of Reval HG will present the new structure to the 

Supervisory Board for approval. According to the new structure the 

current Supervisory Board chairman Tarmo Sumberg will become a member 

of Management Board, and the Management Board of Reval HG will 

continue with 5 members, including Tarmo Sumberg (Management Board 

chairman, responsible for company's strategic development and general 

management), Feliks Mägus (CEO, responsible for coordination and 

management of activities of hotels), Katrin Rassmann (CFO), Urmas 

Pastarus (Director of Development) and Maarika Liivamägi (head of 

sales and marketing).



As of 20.10.2000 the minutes of the EGM are available in the offices 

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

from 09:00 until 16:30.





Feliks Mägus

Management Board chairman

+372 62 74 444