Merko Ehitus                  NEWS RELEASE                      03/17/2003



PROPOSAL FOR PROFIT DISTRIBUTION 2002



Audited net profit of AS Merko Ehitus for the financial year 2002 was 

EEK 98 863 218 (EUR 6 318 495).



The Board of Directors of AS Merko Ehitus proposes to distribute the 

undistributed profit of EEK 200 342 895 (EUR 12 804 212) as follows:



1. To share holders in dividends EEK 19 912 500 (EUR 1 272 637), which

   makes EEK 2,25 (EUR 0,14) per share.

2. The remaining profit of EEK 180 430 395 (EUR 11 531 575) is to be left

   undistributed. 



The Board makes a proposal to compile a list of shareholders who have the 

right to collect dividends per 24 April 2003 at 8.00 A.M and pay out the 

dividends on April 25th 2003.





Ülo Metsaots

Member of Board

Tel +372 6 805 104