EESTI TELEKOM

ANNOUNCEMENT



PUBLIC BOND ISSUE



From 12.07.2000 to 19.07.2000 Eesti Telekom will conduct the 

public issue of bonds. The volume of the issue is EEK 100-150 million.



This issue of Eesti Telekom's bonds marks the very first 

securities issue in Estonia that can be subscribed through internet. 

Telekom will issue discount bonds at EEK 1,000 face value, with 

maturity of one year. The issue is organized and guaranteed by 

AS Eesti Ühispank.



The investors can subscribe for bonds from 10:00 a.m. on 12.07.2000 

until 4:00 p.m. on 19.07.2000. Subscription for bonds will take 

place in Eesti Ühispank's financial portal U-Plaza (www.uplaza.ee).





Raul Kalev

Information Manager

+372 64 60 220