Norma                         NEWS RELEASE                      12/30/2003



SALE OF SUBSIDIARY



On 30.12.2003 signed an agreement for sale of 100% shares in Norma’s 

subsidiary Eksamo Automaatika AS. Eksamo Automaatika AS shares were acquired

by Manager of Eksamo Automaatika AS.



Sale of shares was due to Norma’s strategic goal to focus on its core 

business activities, i.e. production and sale of safety equipment for cars. 



Eksamo Automaatika AS  was established in 1995 as Norma’s fully owned 

subsidiary. Eksamo Automaatika AS is established on the basis of AS norma 

automation departement.



The core business of Eksamo Automaatika AS is maintenance and repair of 

production eguipment and automatisation works. 

Eksamo Automatika AS employed 65 people. 

Based on last audited annual report (2002), the total assets of Eksamo 

Automaatika AS accounted for 0.4% of Norma’s total assets, and owners 

equity and turnover accounted for 0.2% and 1.5% of Norma group’s indicators, 

respectively. Compared to AS Norma owner equity the price of shares amounts 

less then 1%.



This transaction cannot be treated as transaction with related parties.



Sale of Eksamo Automaatika AS  shares does not have a substantial impact on 

AS Norma financial results.





Peep Siimon

Chairman of Management Board

+372 6500 442