Klementi                      NEWS RELEASE                      07/03/2003



DECISIONS OF THE ANNUAL GENERAL MEETING



The ordinary general meeting of the shareholders of AS Klementi 

was held on 2 July 2003 at 16.00 to 16.30 pm in the 

administrative building of AS Klementi, located at Akadeemia 

tee 33, Tallinn.

The general meeting was attended by 6 shareholders and their 

authorised representatives who represented the total of 

1 093 650 votes accounting for 82,73 % of the total votes. 

The Meeting had a quorum.



Decisions of the Meeting:



1. Approval of the annual report of AS Klementi of 2002 and 

profit distribution



Having reviewed the annual accounts, management report, the auditors’ 

report and the proposal for distribution of profits (jointly "Annual

Report"), the Annual General Meeting resolved to approve the Annual 

Report of 2002. It was decided to carry the net loss of the financial 

year of 2002 in the amount of 29 835 000 (twenty nine million eight 

hundred and thirty five thousand) kroons to retained earnings.



The number of the votes given in favour of the resolution was 

1 093 650 which accounted for 100,00% of the registered participants.



2. Appointment of the auditor



It was decided to appoint Tiit Raimla from PriceWaterhouseCoopers AS 

to audit AS Klementi in the fiscal year of 2003. Remuneration of 

the auditor will be based on a contract with the auditing company.



The number of the votes given in favour of the resolution was 

1 093 650 which accounted for 100,00% of the registered participants.





Toomas Leis

Charman

6 710 700