Klementi                      NEWS RELEASE                      07/02/2004



RESOLUTIONS OF AGM OF SHAREHOLDERS



The annual general meeting of shareholders of AS Klementi was held at 15 

hours on 29 June 2004, at Akadeemia tee 33, Tallinn. Three shareholders and 

authorised representatives of shareholders attended the meeting, representing 

a total of 991,528 votes, which forms 52.27% of the total votes granted by 

the shares.



The agenda of the general meeting was the following:

1. Approval of annual report for 2003

2. Election of the auditor

3. Recall of a member of the supervisory board



1. Approval of annual report of AS Klementi for 2003



The general meeting decided:



to approve the annual report for 2003 and transfer the net loss for 2003 

amounting to EEK 21,641,000 to retained loss.



991,528 votes, i.e. 100% of those registered voted for the resolution.



2. Election of the auditor



The general meeting decided:



to elect the auditor Tiit Raimla of AS PriceWaterhouseCoopers as the auditor 

of AS Klementi for the financial year 2004. The auditor shall be remunerated 

according to an agreement to be concluded between the management board and 

AS PriceWaterhouseCoopers.



991,528 votes, i.e. 100% of those registered voted for the resolution.



3. Recall of a member of the supervisory board



The general meeting decided:



to recall the member of the supervisory board Madis Võõras.



991,528 votes, i.e. 100% of those registered were for the resolution.





Toomas Leis

CEO

+372 6 710 700