JSC  "Grindeks"  management  has  reached  agreement with management of

Tallinn  Pharmaceutical  Co  to  take  over  all JSC "Hansapank" claims

against  Tallinn  Pharmaceutical  Co.  During  following  three  months

shareholders general meeting will be called to review capitalisation of

tax arrears.

Mentioned   agreement  will  be  part  of  JSC  "Grindeks"  development

strategy,  to  continue to develop pharmaceutical holdingcompany and to

consolidate  JSC  "Grindeks"positions  in  the  Estonian pharmaceutical

market.