Estiko                        NEWS RELEASE                      03/20/2002



ANNUAL GENERAL MEETING OF SHAREHOLDERS



The Management Board of Estiko  is calling  the Annual  general meeting of

AS Estiko shareholders on  April 12, 2001 at  Emajõe Business Centre, 12th

floor (Soola St. 8, Tartu), beginning at 3:00 p.m.



The Supervisory Board  of Estiko determined the  following  agenda  of the

meeting:



1. Approval of the 2000 Annual Report.

2. Deciding the profit allocation.

3. Appointment of auditor for financial year of 2002.

4. Approval of dividends on preferred shares in year 2002.

5. Approval of interest rate for bonds in year 2002.

6. Amendment of the articles of association  (redactional amendment)

7. Changing of emission conditions of bonds (fixing the date of termina-

   tion of the bonds issued in 1994).

8. Election of the members of the Supervisory Board.



The suffrage of the shareholder at the general meeting  will  be determined

on the basis of the shareholders' list as of  April 12, 2002 at   8:00 a.m.

The registration of the participants of the meeting will start  on the 12th

of April at 2:00 p.m.



Upon registration the legitimate representatives  of the  corporate  share-

holders

are asked to submit the documents which would approve  their right  to  re-

presentation. 

For the board members of a corporate body it is  a copy of the registration

card of the company, for the authorized representatives it is the  authori-

zation from the board or its substitute and a copy of the registration card

of the company. The document for personal identification will be  required.

The individual shareholders will be asked to submit  the document  for per-

sonal identification, a representative will be asked  to  submit  also  the

authorization. 



The Annual Report 2001 will be available for viewing at  Internet  homepage 

of Tallinn Stock Exchange  (www.tse.ee) and on  every workday from  9:00 AM 

to 3:00 PM at the office of AS Estiko, 8 Soola St, Tartu.



For any further questions concerning the general meeting, please contact us

by telephone +372 7 371 000.





Ellen Tohvri

Chairman of Management Board

+372 7 371 000