Trading  of  JSC  "Kaija"  shares on the RSE Second list was suspended

from  May  16, 2003 due to the issuer's failure to submit the financial

statements for the 1st quarter of 2003.

This  resolution  was  taken  in  the  morning  of  May  16  by the RSE

Management Board pursuant to the provisions of the RSE Enforcement Note

on Securities Lists: currently the trading of the issuer's stock is not

in compliance with the market safety and investors' interest protection

principles.

According  to  the  RSE Enforcement Note on Securities Lists, May 1 was

the deadline for the 1st quarter financial statements. Upon JSC "Kaija"

request,  the RSE Management Board extended the term till May 15, 2003.

However,  the  company  failed  to  submit  the information before this

deadline.