PRO KAPITAL GRUPP

ANNOUNCEMENT



ACQUISITION OF A COMPANY



In accordance with Supervisory Board decision of April 18,

2001, regarding applying the proceeds from eurobond issue,

AS Pro Kapital Eesti acquired 55% holding in OÜ Torreon

shares from OÜ Svalbork Invest (controlled by Ernesto 

Preatoni) for EEK 26,620,000.



Proceeding from negotiations with shareholders of

OÜ Torreon the Management Board of AS Pro Kapital Eesti

has resolved to acquire the remaining 45% holding in 

OÜ Torreon shares in May, whereby price formation is 

based on current transaction. Hence, OÜ Torreon will become

100% subsidiary of Pro Kapital Eesti.



OÜ Torreon is the owner of real estate of former 

Tallinn Meat Processing Plant (Tallinna Lihakombinaat).

The area of the estate is 4.5 hectares.



The above transaction shall be considered as transaction 

with related parties, as determined by the Rules and 

Regulations of the Tallinn Stock Exchange. However, the

transaction has no significance as the value of 

the transaction accounts for less than 30% of AS Pro 

Kapital Grupp latest audited consolidated owners equity.





Ilona Saari

PK Grupp, Board member

+372 614 4924