HARJU ELEKTER

ANNOUNCEMENT



SUBSIDIARY TO START PRODUCTION OF FIBER OPTIC PRODUCTS



AS Eltek, 100% subsidiary of AS Harju Elekter, started production of 

fiber optic connection cables and equipment. A new department for 20 

people was opened. The estimated output capacity for 2001 is EEK 2 million,

for 2002 EEK 10 million, and annual growth rate of no less than 10% for 

the following years. The modern technology and skills new to the group, 

have a significant synergic impact on the production of wiring harnesses 

for car and electronic industry in the future. The production of fiber 

optic connection cables and equipment is a growing industry with great

perspectives.



Harju Elekter made investments in total of EEK 1 million in construction

of production spaces to meet the technological requirements. 

EEK 3.5 million was invested in high-technology equipment for production.



Fiber optic cables enable delivery of considerable amount of data. Fiber 

optic cables will replace copper cables for connection and data communication, 

thus significantly improving the speed of data communication delivery 

for an end consumer.



Harju Elekter Group, and its subsidiaries and affiliated companies,

is the largest producer of electrical equipment and materials in the 

Baltic countries, employing almost 800 people. AS Eltek is a subsidiary 

of Harju Elekter since 1998. The company's core business is production of

various products used in the field of telecommunications, i.e. production

of data communication and telephone network distribution cabinets and 

UPS-cases etc. The company's turnover in 2000 amounted to EEK 42.9 million, 

of which the exports accounted for 70%.



Andres Allikmäe

Management Board chairman

+372 674 7400





Moonika Vetevool

PR manager

+372 671 2761