HÜVITUSFOND

ANNOUNCEMENT



III AND XV-SERIES INTEREST, REDEMPTION OF BONDS



Hüvitusfond will redeem the issues of III- and XV-series bonds

on 17.05.2001. 



On the date of redemption the bondholders will receive interest 

payments in addition to redemption payment. Interest payments 

will be made to investors holding the respective bonds as of 

the end-day of 15.05.2001, according to the data of the securities 

register of the Estonian Central Depository for Securities.

Redemption payments will be made to investors holding the respective 

bonds as of 17.05.2001 at 8:00 a.m., according to the data of 

the securities register of the Estonian Central Depository for 

Securities.

Base interest paid to the holders of Hüvitusfond III- and XV-series 

bonds is 7% (EEK 7 per bond). According to the decisions made by 

Hüvitusfond Supervisory Board, no additional interest will be paid 

for H1 and H2 2000.



Volume of III-series bond issue is EEK 40,000,000, and the volume

of the XV-series bond issue is EEK 58,332,800. III-series bond issue 

took place from 17.05.1995 to 13.06.1995. XV-series bond issue took 

place from 20.09.1999 to 08.10.1999.



Hüvitusfond will make interest payments to the holders of III- and 

XV-series bonds in total amount of 6.9 million EEK (EEK 2.8 million 

for III-series bonds and EEK 4.1 for XV-series bonds), and redemption 

payments in total amount of EEK 98 million (EEK 40 million for 

III-series bonds and EEK 58 for XV-series bonds). Altogether 3,714 

private investors will receive interest and redemption payments.



Interest payments from Hüvitusfond bonds to private persons are 

exempt from income tax.





Jaanus Kosemaa

PR manager

+372 66 51 800