TALLINN STOCK EXCHANGE

ANNOUNCEMENT

 

CHANGES IN SUBSTANTIAL SHAREHOLDINGS

 

As of 03.12.2001 the following significant changes have taken place 

in the ownership structure of the companies listed on the Tallinn 

Stock Exchange, compared with the standings disclosed earlier.

 

The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be 

significant.

 

 

Issuer                              Previously   Per cent of  

                            disclosed per cent  shares as of

   Shareholder                       of shares    03.12.2001

--------------------------------------------------------------

Kalev (7 877 500 shares)

 

   Hode Investeeringud OÜ              30.46       below 5

   Linderin Grupp OÜ                 below 5         30.46

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TSE