HÜVITUSFOND

ANNOUNCEMENT

20.07.99

 

H1 1999 ADDITIONAL INTEREST

 

The Supervisory Board of Hüvitusfond resolved to pay 0% additional 

interest for H1 1999. Hüvitusfond will pay additional interest for 

series I-VIII and XI, XII and XIV bonds in addition to 7% fixed 

yield. 

 

Payment of additional interest is determined by the Supervisory 

Board 

of Hüvitusfond based on the Fund’s last 12 months’ financial 

results, 

i.e. period from 1.07.98 to 31.06.99. The Fund had 185.6 million 

EEK of 

loss in H2 1998, and earned 42.6 million EEK of profit in Q1 1999. 

Considering the forecasts for Q2 1999, however, the composed 

financial 

result for last 12 months is still negative. Proceeding from the 

above, 

the Supervisory Board of Hüvitusfond resolved not to pay additional 

interest for H1. 

 

As the fund earned 42.6 million EEK of profit during Q1 1999 and 

showed 

positive financial results for Q2, the additional interest may be 

paid 

for H2 1999. 

 

Payment of additional interest is determined twice a year, on July 

20th 

and January 20th. Additional interest is paid out once a year 

together 

with the base interest on the date fixed for the payment of 

interest on 

bonds of the respective issue.

 

H1 1999 unaudited financial results of Hüvitusfond will be 

published in 

the beginning of August.

 

 

Jaanus Kosemaa

Public Relations manager

Hüvitusfond

+372 66 51 800, +372 51 04 614