AS TALLINNA VESI              Stock Exchange Release             November 23, 2005



    Decisions of AS Tallinna Vesi Extraordinary General Meeting of Shareholders



The decisions of the Extraordinary General Meeting of AS  Tallinna  Vesi  held  on

22nd of November 2005 were as follows:



1. With 99,99% of votes in favour to elect Mrs.  Helo  Meigas  as  an  independent

Supervisory Council member;



2. With 99,99% of votes in favour to elect  Mr.  Valdur  Laid  as  an  independent

Supervisory Council member;



3. The Shareholders of AS Tallinna Vesi approved with 99,95% of  votes  in  favour

the  proposal  of  AS  Tallinna  Vesi  Management  Board  that  the  payments  for

Supervisory Council members should be set at 100,000 kroons per year. The  fee  is

subject to deduction and payment of taxes set out by laws and is payable  monthly.

Additionally, appropriate expenses (e.g. travelling,  accommodation)  incurred  in

connection with attending the meetings are also  compensated  to  the  Supervisory

Council members.



Additionally, the City of Tallinn proposed and the shareholders agreed to  include

recalling Mr. Jüri Ratas from the Supervisory Council and  election  of  Mr.  Rein

Ratas as a Supervisory Council member on the  agenda  of  the  meeting.  Mr.  Jüri

Ratas has been AS Tallinna Vesi Supervisory Council member since April  2005.  Due

to taking up the position of the mayor of Tallinn he  can  no  longer  be  on  the

Supervisory Council. The decisions were as follows:



1. With 99,99% of votes in favour to recall Mr. Jüri Ratas  from  the  Supervisory

Council.



2. With 99,95% of votes in favour  to  elect  Mr.  Rein  Ratas  as  a  Supervisory

Council member.



AS Tallinna Vesi Extraordinary General Meeting of the  Shareholders  was  held  on

Tuesday 22nd November  2005  at  2  p.m.-  3  p.m.  in  the  Reval  Hotel  Olümpia

conference centre in room Gamma. 14 020 213 votes out of the total of  20  million

votes were represented at the meeting.





Eteri Harring

Head of Treasury and IR

Ph: + 372 6262 225

eteri.harring@tvesi.ee



Karita Sall

PR manager

Ph: + 372 6262 209

karita.sall@tvesi.ee