AGM Resolutions Of Estonian Central Depository For Securities

The annual general meeting of shareholders of Estonian Central Depository for Securities (ECDS) was held on June 6, 2000.

AGM resolved to approve the activities of ECDS, and to adopt the 1999 annual report and proposal for profit allocation.

According to the proposal for profit allocation, net profit earned by ECDS in 1999 in the amount EEK 64,333 will be allocated as follows: to assign 5% of the amount of net profit earned in 1999, or EEK 3,217, to the account of mandatory legal reserve; to assign 1999 the undistributed sum in the amount EEK 61,116 to the account of retained earnings.

AGM resolved to appoint Urmas Kaarlep of PriceWaterhouseCoopers to audit the financial reports of ECDS in year 2000.