Tallinn Stock Exchange        FINANCIAL RESULTS                 12.11.2004



LINK TO KALEV REPORT 2003/2004



The 2003/2004 annual report of AS Kalev is available on the Internet 

homepage of the Tallinn Stock Exchange at <a href='http://www.hex.ee/reports' target='_blank'>http://www.hex.ee/reports</a> 

("Listed companies / Financial reports of listed companies").





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