HÜVITUSFOND

ANNOUNCEMENT



CHANGE IN SUPERVISORY BOARD OF SUBSIDIARY



On 08.03.2001 EGM of AS Werol Tehased recalled Supervisory Board

member Vambola Kolbakov and elected Andres Pajuste new member

of the Supervisory Board.



Recall of Vambola Kolbakov was based on his resignation 

application.



In 1991 Armand Andres Pajuste graduated from Eesti Diplomaatide 

Kool (Estonian School of Diplomacy), majoring in international 

relations and foreign affairs;

In 1982 graduated from Dresden University of Technology, majoring in

production management; 

In 1978 graduated from Tallinna Tehnikaülikool (Tallinn 

Technical University), majoring in mechanics; 

2000-2001 EXPO 2000 Estonia, Head Commissioner; 

1996-2000 Advisor to the Minister of Finance; 

1993-1996 Estonian Embassy in Bonn, Financial Advisor.





Jaanus Kosemaa

PR manager

+372 6651800