Tallinna Börs                 NEWS RELEASE                      06/22/2004



ADDITIONAL LISTING OF EESTI TELEKOM SHARES



The Listing and Surveillance Committee of the Tallinn Stock Exchange 

(hereinafter: the Committee) reviewed the application by AS Eesti Telekom, 

filed with the Committee on 08 June 2004, for listing on the TSE Main List 

the 310,000 A-shares which were issued additionally as a directed issue. The 

Committee also reviewed the application submitted on 11 June 2004 for 

granting excemptions to the requirements of the part "Listing Rules" 

(hereinafter: LR) of the TSE Rules and the Decree "Listing Requirements" 

(hereinafter: Listing Regulation) by Minister of Finance.



On June 21, 2004, the Committee decided to satisfy the applications of Eesti 

Telekom and grant AS Eesti Telekom during listing the 100 A-shares an 

excemption from the requirement to append to the listing application the 

documents specified in clauses 3.3.1 - 3.3.9 of the LR on the basis of clause 

3.4 of the LR and an exception from the requirement of preparation and 

publication of the listing particulars on the basis of § 44 (1) of the 

Listing Regulation.



The Committee also decided to satisfy the listing application of AS Eesti 

Telekom and to list additionally on the TSE Main List the 310,000 A-shares of 

AS Eesti Telekom. The decision entered into force immediately after its 

adoption.



The first listing day of the shares is the first stock exchange day after the 

publication of the decision, i.e. the first stock exchange day following the 

publication of relevant announcement via the TSE information system. Until 

registration of the increase of share capital in the Commercial Register and 

re-registration of the new shares in the Estonian CSD, the new shares are 

marked in the trading system by a trading code different from the earlier 

shares.



Therefore, 310,000 additional shares (ISIN: EE3802007221) of AS Eesti Telekom 

are traded on the TSE Main List under the separate name ETL3T as from 22 June 

2004.





Tallinn Stock Exchange

Market Services

+372 640 8802