JSC  "Gutta"  management  informs  that in their opinion the insolvency

court case brought by "Norbiton

Assets

Inc."  would  have no material impact on their operations. JSC " Gutta"

financial  position  as  of end of 1999 was stable, and the company has

reached  an  agreement  with  all  major  creditors  on  the  financial

restructuring measures.

In  total  more  than  90%  of  shareholders  are  aware of the current

situation and more than 80% support the company implicitly.