Tallinna Sadam                NEWS RELEASE                      02/13/2004



DEBT FINANCING



Port of Tallinn has ensured debt financing for funding the 2004 investment 

plan in the amount of EUR 75 m. 

The loan agreement in the amount of EUR 15 m was signed with the Nordic 

Investment Bank on February 12, 2004. This was the first Baltic company's 

financing deal with NIB after all three Baltic countries have become members 

of the bank. 

The loan agreement in the amount of EUR 25 m with the Eesti Ühispank was 

signed on February 13, 2004.  

The loan agreement with the remaining EUR 35 m with Nordea Bank Finland Plc 

Estonian Branch is expected to be signed by March 2004. 

The loans are priced based on the floating 6-month Euribor plus risk margin. 

The first draw down is expected to occur during the first quarter of 2004.





Erik Sakkov

Marketing Director

631 8067