Eesti Telekom                 NEWS RELEASE                      08/27/2002



NEW BORD MEMBER OF AS EESTI TELEFON



On  August  27,  2002,  the  Council  of  AS  Eesti  Telefon

appointed  Valdur  Laid  to  become  a  new  Member  of  the

Management Board and Financial Director of AS Eesti  Telefon

starting from September 2, 2002.



The  employment  contract  of  AS  Eesti  Telefon’s  current

Financial  Director, Satu Koskinen, will expire on September

2, and she will join the merged Telia and Sonera.



Valdur Laid is 32 years old and graduated cum laude from the

Economics Department of the Tallinn Technical University  in

1993.  In  2001  he obtained a master’s degree  in  Business

Management from IMD at Lausanne in Switzerland. Valdur  Laid

has worked for eight and a half years at the Bank of Estonia

as   Portfolio   Manager,  Director  of  Financial   Markets

Department  and  most recently as Member of  the  Management

Board.



Valdur Laid owns 3000 AS Eesti Telekom shares.



AS Eesti Telefon is a 100% subsidiary of AS Eesti Telekom.





Hille Võrk

Finantsjuht

6 272 460