Saku Õlletehas                NEWS RELEASE                      04/02/2004



DECISIONS OF THE GENERAL MEETING OF SHAREHOLDERS



The ordinary general meeting of the shareholders of Saku Brewery

Ltd  took  place on April 2 2004 at 11.00 to 12.40 in  the

administrative   building  of  Saku   Brewery.   The   attendees

represented 75,1% of the company`s voting stock and the  meeting

was qualified to adopt decisions.



By the proposal of the supervisory board member Jaak Leimann, it

was  decided  to add into the agenda of the general  meeting  of

shareholders a new clause about recalling and electing member of

supervisory  board,  because  of  the  withdrawal  of   Vitalijs

Gavrilovs  from the position of president in Latvian brewery  AO

Aldaris.



Decisions of the general meeting:



1.The general meeting approved the annual report for 2003



2. Shareholders  approved  the  following  profit   allocation

proposal:

Net  profit amounts to EEK 54,770,000 (fifty-four million  seven

hundred  seventy  thousand) (€3,500,000), the share  of  profits

distributed  to  shareholders amounts to EEK  40,000,000  (forty

million)  (€2,556,000) and net dividend amounts to EEK 5  (five)

(€0.32) per (1) share.

Shareholders   approved  the  following  dividend   distribution

procedure:

In   accordance  with  the  rules  of  Tallinn  Stock  Exchange,

shareholders  who are entitled to a dividend for  2003  will  be

determined  on  the  basis of the list of  shareholders  at  the

Estonian Central Depository for Securities at 8 a.m. on the 15th

stock exchange day from the day of the general meeting, i.e.  on

26  April 2004. Dividends will be paid out on 10 May 2004 at the

latest.



3.Decided  to  pay  members  of  the  supervisory  board  for

performance  of  their  duties  in  2004  similarly   to   their

remuneration  for  2003,  i.e. up to EEK  100,000  (EUR  6391)in

aggregate.  The  terms of remuneration will be determined  in  a

meeting of the supervisory board.



4. Shareholders appointed two (2) auditors for one  (1)  year

(until the next annual general meeting) and that the auditors be

Andris  Jegers and Andres Root and pay auditors a  fee  for  the

audit  of  the  accounts for 2004 in accordance with  the  audit

engagement letter that will be concluded with AS KPMG Estonia.



5. Decided  to  recall a member of supervisory  board  Vitalijs

Gavrilovs  and  to  elect a new member of the supervisory  board

Claudia  Lindby,  ID280666-1492,  who  is  working  as  a   vice

president of marketing in BBH Baltic region.





Kristina Seimann

Communication Manager

+372 6508 303