Eesti Telekom                 NEWS RELEASE                      02/06/2003



COMMENTS ON BNS ARTICLE



The  management  of  AS Eesti Telekom  is  aware  of  the

intention of TeliaSonera to acquire majority shareholding

in  Baltic  companies  where they currenly  are  minority

shareholders.



However,  in  the Shareholders’ Agreement,  concluded  in

December  1998  and effective from May 1999,  TeliaSonera

have  agreed not to acquire in excess of 49 per  cent  of

the  issued  shares prior the earlier of  (i)  the  fifth

anniversary  of  the  Shareholders’  Agreement   becoming

effective and (ii) the date on which the State’s  holding

of  shares falls below 10 per cent. The Agreement doesn’t

allow   TeliaSonera   to  increase   their   shareholding

immediately.





Hille Võrk

Financial Manager

6272460