Tallinna Börs                 NEWS RELEASE                      03/16/2004



CHANGES IN SUBSTANTIAL SHAREHOLDINGS



As of 15.03.2004 the following significant changes have taken place 

in the ownership structure of the companies listed on the Tallinn 

Stock Exchange, compared with the standings disclosed earlier.

 

The levels of 5%, 10%, 20%, 33%, 50% and 66% are considered to be 

significant.

 

 

Issuer                       Previously     Per cent of 

                     disclosed per cent    shares as of

   Shareholder                of shares      15.03.2004 

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Baltika (5 499 450 shares) 



   HEX Back Office and Custody Services OY Funds

                                below 5            5.05

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