Eesti Telekom                 NEWS RELEASE                      09/23/2004



CHANGE IN MANAGEMENT BOARD



The  Council  of  AS  Eesti Telekom  decided  on  its  23

September   2004  meeting  to  accept   the   letter   of

resignation  of  the  CFO  of the  Company,  Mr.  Krister

Björkqvist, as of 9 October 2004.



Mr.  Björkqvist who is a Finnish citizen,  will  after  5

years  as  CFO of AS Eesti Telekom return to  Finland  to

take up a position in the TeliaSonera Group.



The AS Eesti Telekom Council appointed Ms. Hille Võrk  as

new  CFO  and  member of the Management  Board  as  of  9

October  2004.  Ms.  Hille Võrk has worked  as  Financial

Manager  in the Company since 1 March 1999 and owns  1250

shares in AS Eesti Telekom.



Additional information:

Jaan Männik

CEO

Telephone: +372 6311 212





Kadri Lensment

Executive assistant

+372 6311 212