Tallinn Stock Exchange             NEWS RELEASE                 16.05.2005



CHANGES IN SUBSTANTIAL SHAREHOLDINGS



As of 16.05.2005 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      16.05.2005 

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Harju Elekter (5 600 000 shares)



   AS Hansapank                   11.75         below 5



   ING Luxembourg S.A.          below 5             9.2



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