AS HARJU ELEKTER              STOCK EXCHANGE RELEASE              17.06.2005



COMMENT ON ARTICLES OF 17 JUNE IN ÄRIPÄEV



In order to clarify the articles and comments published in Äripäev on 17 June

and to reassure the small shareholders of AS Harju Elekter, the management

board of AS Harju Elekter reports the following:



AS Harju Elekter will publish the financial results of its 1st half-year of

2005 on the 31st week.  According to the initial estimates, the business

activity of the Harju Elekter group has developed well in 2005; we have

profitably increased the turnover and expanded our business activities in

Estonia, Finland and Lithuania. The favourable economic climate and demand on

the markets has provided assurance that the growth will also continue in the

2nd half-year and in the future.



The price of the PKC Group Oyj share has absolutely no impact on the business

activity, commercial profit or the financial status of AS Harju Elekter.

According to the rules of IAS, the change in the price of the PKC share on the

Helsinki Stock Exchange only influences the state of the company’s assets in

the balance sheet, the change in which will be reflected in the income

statement as financial income/expenditure.



PKC Group Oyj will announce the financial results of its 1st half-year to the

Helsinki Stock Exchange on 15 July 2005.



The management board of AS Harju Elekter sees no technical or economic reason

for changes in the Harju Elekter share (HAE1T) of 15 and 16 June. In our

opinion, the decrease in the prices of HAE1T and the sale of shares on the

levels of the closing price are speculative by nature. According to the

information at our disposal, neither the main investors nor long-term small

investors have sold shares and do not intend to do so.



Further information: Annual report of Harju Elekter for 2004, the interim

report for the 1st quarter of 2005(http://market.ee.omxgroup.com)





Andres Allikmäe

Chairman of the Management Board

+372 6 747 400