Market announcement

Title

The subsidiary of Harju Elekter signed a large volume contract

Message

AS Harju Elekter Elektrotehnika, a subsidiary of Harju Elekter, won the public
procurement announced by the subsidiary of Eesti Energia, OÜ Jaotusvõrk, for
purchasing unit substations. As a result of successful negotiations, a 3-year
delivery contract was signed, the approximate volume of which is MEEK 300.

Pursuant to the contract, in the following three years, Harju Elekter
Elektrotehnika will deliver to OÜ Jaotusvõrk approximately 400 unit substations
with 1 and 2 transformers per year, which are manufactured in plants. The
substations will be installed, and the deliveries are aimed at the Estonian
market.

Harju Elekter is a leading manufacturer of electrical plants and materials in
the Baltic States. Harju Elektri Grupp includes the manufacturers of electrical
plants in Estonia, Finland and Lithuania: AS Harju Elekter Elektrotehnika
(100%), Satmatic Oy (100%) and Rifas UAB (51%), as well as the manufacturer of
telecommunications products AS Eltek (100%) and the related company AS Draka
Keila Cables (34%). Harju Elekter also has financial investments in the Latvian
seller of electrical plants SIA Energokomplekss (10%) and the Finnish stock
company PKC Group Oyi (9%).

Andres Allikmäe
Chairman of the Management Board
Tel: +372 674 7400

Additional information: Manager of AS Harju Elekter Elektrotehnika Ülo Merisalu
(Tel: +372 674 7449).