EESTI TELEKOM

ANNOUNCEMENT



REDEMPTION OF PUBLIC BONDS



On  July 20, 2001, AS Eesti Telekom will redeem an issue  of

public  bonds. The discounted bonds were issued on July  20,

2000  at  volume  of  100  million kroons  and  6.1%  annual

interest rate. Redemption payments will be made to investors

holding  the respective bonds as of July 20, 2001,  at  8:00

a.m.,  according to the data of the securities  register  of

the  Estonian Central Depository for Securities.  Redemption

payment  per bond will be 1 000 kroons. Redemption  payments

in total will amount 100 million kroons.





Hille Võrk

Financial manager

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