Viisnurk                      NEWS RELEASE                      01/23/2004



RESTRUCTURING



The supervisory board of AS Viisnurk today decided on major

structural changes intended to strengthen the companyļs ability to

focus on its core business activity, furniture manufacturing. Work

has been carried out to prepare for these changes over recent

months meaning that the company can start implementing the changes

with immediate effect. The company is as of today tasked with

fulfilling the following aims as a matter of priority:



-to effect the sale of the Building materials division,

-to effect the sale of the Sporting Goods division,

-to consider the future of the glueboard factory and sawmill.



The above decisions were taken in order to improve the sustainable

profitability of the company. 2003 profit figures will be affected

by provisions related to restructuring and will be lower than

previously forecast. The preliminary results for the fiscal year

2003 will be announced before the end of February.



Additionally the supervisory board accepted the resignation of

Tiit Arro from his position as chairman of the management board.

His duties will be taken over by Toivo Kuldmäe who has been a

board member since 1995.



The supervisory board believes that the increased focus and

strengthened balance sheet resulting from the restructuring will

allow Viisnurk to fulfil its aim of working towards becoming the

leading furniture producer in the Baltics. It also believes that

the sold divisions will benefit from the increased focus under new

owners who can be either strategic or financial investors.



There will be a briefing for analysts and press at the offices of

Trigon Capital at Pärnu mnt 15, on tomorrow, January 23, 2004, at

9AM. The company has asked for its shares to be suspended until

after the briefing.





Andrus Aljas

Business Controller

+3724478355