Estiko                        NEWS RELEASE                      02/25/2003



FILING AN ACTION AGAINST THE SUBSIDIARY



On 06.02.2003,  Milleenia  Valduse  AS (bankrupt) filed an action against

Estiko Investeeringute AS, the subsidiary of AS Estiko, with Tartu County

Court, in order to invalidate the  purchase  contract  between  Milleenia 

Valduse AS  and  Estiko  Investeeringute AS (07.11.2000) of the imaginary 

part of Kaubahall and to  demand  the  monetary contribution for property 

in the amount of 36 million kroons (EUR 2.3 million). 



According to the decree  of  Tartu  County  Court of 12.02.2003, the bank

accounts of Estiko  Investeeringute  AS have been frozen and the notation

concerning  the  prohibition  on  disposal  of  the real estate of Estiko

Investeeringute AS  has been made.



The Management Board of Estiko considers the above mentioned action to be

unreal and estimates  the satisfaction of it by the court improbable. The

Management Board has asked the lawyers to file an appeal against ruling.





Ellen Tohvri

Member of the Board

+372 7 308 300