Harju Elekter                 NEWS RELEASE                      03/08/2002



ANNUAL GENERAL MEETING OF SHAREHOLDERS



Annual general meeting of Harju Elekter shareholders will be held

on 12th of April 2002, beginning at 10:00 a.m., at venue of Keila

Kultuurikeskus (address: Keskväljak 12, Keila).



The Supervisory Board of the Joint Stock Company Harju Elekter determined

the following agenda of the general meeting:



1. Approval to AS Harju Elekter annual report of the year 2001.

2. Approval to profit distribution.

3. Approval of company's Articles of Association.

4. Nomination of members of the Supervisory Board.

5. Nomination of auditors for the year 2002.

6. Share option



The Management Board shall propose at the shareholders general meeting to

pay dividends to the shareholders for 2001 financial year in the amount of

7.56 (2000:  6.48) million kroons or 1.40 (2000:  1.20) kroons per share.

The shareholders registered in the sherholders’ registry on 30 April 2002

at 8 a.m shall be entitled to dividend.



The annual report and the Aricles of Assotiation of Harju Elekter are

available for preliminary examination at the company’s secretary on the third

floor of Harju Elekter office building in Keila, 31 Paldiski Road and in the

Internet, company’s home page <a href='http://www.harjuelekter.ee.' target='_blank'>http://www.harjuelekter.ee.</a>



Registration of the participants starts at 9 a.m. For the registration we ask

you to take with you an identification document. A representative of

shareholder is requested to take with him/her a document certifying their

right of representation or a valid copy of the commercial register card.





Andres Allikmäe

Chairman of the Management Board

+372 6747 400





Moonika Vetevool

PR manager

+372 6712 761