Merko Ehitus                  NEWS RELEASE                      03/17/2003



ANNUAL GENERAL MEETING OF SHAREHOLDERS



The Board of AS Merko Ehitus announces that the regular general meeting 

of shareholders of AS Merko Ehitus, located at 9G Järvevana road, Tallinn

11314, takes place on the 8th of April 2003 at 16:00 PM in the "Apella A" 

meeting room of the hotel Central at 7c Narva St, Tallinn.



Agenda of the meeting:



1. Approval of the 2002 Annual Report;

2. Deciding the profit distribution; 

3. Appointment of auditor for financial year of 2003;

4. Election of members of the Council;

5. Amendments to the Articles of Association.



The suffrage of the shareholder at the general meeting will be determined

on the basis of the minutes book as of 08.04.2003 at 8:00 AM.

The registration of the participants of the meeting will start on the 8th

of April 2003 at 15:30 PM.



Upon registration the legitimate representatives of the corporate share-

holders are asked to submit the documents, which would approve their right

to representation.  For the board members of a corporate body it is a copy

of the registration card of the company, for the authorized representatives

it is the authorization from the board or its substitute and a copy of the

registration card of the company. The document for personal identification

will be required. The individual shareholders will be asked to submit the

document for personal identification, a representative will be asked to

submit also the authorization. 



The Annual Report 2002 will be available for viewing from the 17th of March 

at Internet homepages of Tallinn Stock Exchange (www.hex.ee) and Merko

Ehitus (www.merko.ee), and on every workday from 8:00 AM to 5:00 PM at the

office of AS Merko Ehitus, 9G Järvevana road, Tallinn.



For any further questions concerning the general meeting, please contact us

by telephone +372 6 805 105.





Ülo Metsaots

Management Board member

+372 6 805 104