NOTICE OF CALLING EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF AS EESTI TELEKOM

Dear shareholder of AS Eesti Telekom,                                           

We hereby inform you that the management board of AS Eesti Telekom, registration
No. 10234957, address Valge 16, Tallinn, calls at the request of its shareholder
Baltic Tele AB an extraordinary general meeting of shareholders of AS Eesti     
Telekom in order to decide on distribution of additional dividends and on       
dividend policy for the years 2009-2011. The extraordinary general meeting of   
shareholders will be held on 1 October 2009 at 4pm at Valge 16, Tallinn.        

The shareholders registered in the share register of AS Eesti Telekom on 21     
September 2009 at 23:59 will have the right to vote at the general meeting.     

Registration for the general meeting starts on 1 October 2009 at 3.30pm at the  
place of the meeting. For registration for the meeting, shareholders must       
present identity documents and representatives of shareholders' must present    
documents proving their right of representation.                                

Any questions regarding the general meeting can be asked by phone +372 631 1212,
on the Internet at www.telekom.ee, or by e-mail to mailbox@telekom.ee.          

AGENDA OF THE GENERAL MEETING                                                   

1. 	Allocation of Profit                                                        

The Supervisory Council, after consideration of the financial condition of Eesti
Telekom Group, proposes to additionally distribute consolidated retained        
earnings of the Eesti Telekom Group as of the end of the year 2008, EEK         
2,413,843 thousand, attributable to the equity holders of the parent company of 
the Group, less 1,448,523 thousand already paid as dividend, totalling EEK      
965,320 thousand as follows:                                                    

To distribute among the shareholders and pay to the shareholders as dividends   
EEK 964,302 thousand, i.e. EEK 6.99 per share, based on a total of 137,954,528  
shares entitled to dividends.                                                   

The list of shareholders based on which dividends will be distributed shall be  
fixed at 23:59 on 15 October 2009. The dividends shall be paid out on 30 October
2009.                                                                           

2. 	Dividend Policy for years 2009-2011                                         

The Supervisory Council proposes a dividend policy of AS Eesti Telekom for the  
fiscal years 2009, 2010 and 2011 in line with the current practice, whereby the 
dividend payable in accordance with the law in 2010, 2011 and 2012 shall be     
equal to 100 percent of accumulated net income of the preceding year.           


Kind regards,                                                                   

Management Board of AS Eesti Telekom