Tallinna Börs                 NEWS RELEASE                      12/16/2002



CHANGES TO TSE RULES AND REGULATION



On December 16, 2002 changes to TSE Rules and Regulation (Rules) and 

Implementing Provisions of Chapter "Trading Rules" of the Rules became 

effective.



New chapters "General Part" and "Supervision" have been established. Changes

have been made to "Listing Rules", "Trading Rules", "Requirements for 

Issuers" and "Rates of Fines".



More detailed information regarding changes to the Rules can be obtained from

HEX Tallinn press release on HEX Tallinn Internet homepage at

<a href='http://www.tse.ee/english/general/general.php?lk=press/pres76.html,' target='_blank'>http://www.tse.ee/english/general/general.php?lk=press/pres76.html,</a> including

changes to "Trading Rules" at 

<a href='http://www.tse.ee/english/general/general.php?lk=press/pres77.html.' target='_blank'>http://www.tse.ee/english/general/general.php?lk=press/pres77.html.</a>



New version of the Rules with aforementioned amendments is available on HEX

Tallinn Internet homepage, under section "Amendments to the Rules and

Regulations" of "TSE Rules and Legislative Acts".





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