BALTIKA

ANNOUNCEMENT



ISSUE OF COMMERCIAL PAPERS



AS Baltika issued commercial papers in the form of directed issue in value of

EEK 25 million (2,500 commercial papers of EEK 10,000 face value). The issue 

was organized in two parts: 1,000 commercial papers at distribution price of 

EEK 9,743.85 (at 5.2% annual interest rate) and 1,500 commercial papers at 

distribution price of EEK 9,763.08 (at 4.8% annual rate). The initial offering 

of the commercial papers was organized as Private Placement and ended on 

October 11, 2001.

Redemption date is April 12, 2002.

The issue was organized by Hansapank.

Proceeding from the company's strategy the proceeds from the issue will be 

used for funding retail sales development projects and investments.





Ülle Järv

Management Board member

+372 603 2741