TALLINNA KAUBAMAJA

ANNOUNCEMENT



ISSUE OF COMMERCIAL PAPERS



On 22.01.2001 Tallinna Kaubamaja AS issued commercial papers in 

value of EEK 25.26 million, at 6.0% annual interest rate and 

EEK 10 000 face  value; the average weighed duration of the issue 

is 161 days. Schedule of redemption is as follows: 18.06.2001, 

25.06.2001, 02.07.2001, 09.07.2001 and 16.07.2001 in equal parts. 

Total volume of one payment is EEK 5 052 000, divided equally 

between 2526 commercial papers.



The issue was organized as auction. Altogether 14 investors 

subscribed for the issue for total of EEK 38.17 million.

The issue was organized by Hansabank Markets.





Urmo Vallner

Management Board member

+372 64 00 200