HARJU ELEKTER                   ANNOUNCEMENT                       01.11.2004



INCREASE OF SHARE CAPITAL



The commercial register registered the increase in the share capital of

AS Harju Elekter by EEK 2 million (TEUR 127,8). Harju Elekter issued 200 000

additional registered shares with the nominal value of 10 kroons (0,64 EUR).

Since 29.10.2004, the share capital of Harju Elekter is EEK 56 million (MEUR

3,579), divided into 5,6 million ordinary shares with the nominal value of 10

kroons (0,64 EUR). The new shares are entitled to dividends for the

financial year 2004.





Andres Allikmäe

Chairman of the Management Board

Tel +372 6 747 400