On  November  7  an agreement will be signed between JSC "Grindeks" and

"Sampo  Pank"  regarding  sale  of  Tallinn Pharmaceutical Plant (TPP).

"Grindeks" intends to buy 114,685 shares, which is 9.2% of TPP capital.

The  price  per  share is 25 Estonian kronas, which equals the price at

Tallinn  Stock  Exchange.  Pursuant to the provisions of the Agreement,

settlement  and  ownership  transfer  will be completed by November 25,

2002.

JSC "Grindeks" is the control interest holder of Tallinn Pharmaceutical

Plant,  holding  687,000 shares or 54.96% of share capital. As a result

of  the  deal,  "Grindeks"  will  hold  801,685 shares or 64.16% of the

company share capital.