Tallinna Börs                 NEWS RELEASE                      06/16/2003



CHANGES IN SUBSTANTIAL SHAREHOLDINGS



As of 16.06.2003 the following significant changes have taken

place

in the ownership structure of the companies listed on the Tallinn

Stock Exchange, compared with the standings disclosed earlier.



The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be

significant.





Issuer                       Previously    Per cent of

                     disclosed per cent   shares as of

   Shareholder                of shares     16.06.2003

--------------------------------------------------------------

Klementi (1321875 A-shares and 575000 additional A-shares 2)*



   Bryum Estonia AS             33.33           27.66

   OÜ Alta Investments I        39.87           26.81



* 1321875 shares at the time of last disclosure

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