According to the restructuring plan of Viisnurk AS, its Sports Goods Division will be gradually closed down during the period from 31 August to 31 October 2004. The division will terminate all production after the
complete fulfilment of orders for the coming skiing season. In connection with the termination of division's activity 248 of its employees will today receive their notice of dismissal.

At the same time the company continues negotiations with potential investors for selling the division as a working company or in separate assets after the fulfilment of all contractual obligations before its
customers.

Economic activities of the Sports Goods Division resulted in the net sales of 7.5 m kroons (0.5 m euros) and the loss of 4.6 m kroons (0.3 m euros) in the 1st quarter.

Andrus Aljas
CFO
+372 447 8355