Harju Elekter                 NEWS RELEASE                03/11/2003 09:00



ANNUAL GENERAL MEETING OF SHAREHOLDERS



Annual general meeting of Harju Elekter shareholders will be held

on 11 April 2003, 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 2002.

2. Approval to profit distribution.

3. Nomination of auditors.



The Management Board shall propose at the shareholders general meeting to

pay dividends to the shareholders for 2002 financial year in the amount of

10.8 (2001: 7.56) million kroons or 2.00(2001: 1.40) kroons per share.

The shareholders registered in the sherholders’ registry on 28 April 2003

at 8 a.m shall be entitled to dividend.



The annual report of the year 2002 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