TALLINNA KAUBAMAJA

ANNOUNCEMENT



BOND ISSUE



On 06.12.2001, Tallinna Kaubamaja AS issued one-year bonds 

in total value of EEK 31.5 million at EEK 10,000 face value.

The bonds will be redeemed on December 20, 2002. The discount 

bonds will be issued at 4.6% annual interest rate.

The interest rate formed during the purchase offering. 

16 investors participated in the offering and subscribed bonds 

for EEK 74.5 million.



The bond issue is organized by Eesti Ühispank.



Earnings from the issue will be partly invested into commercial 

papers redeemed on December 7. Volume of the commercial papers 

issue is EEK 37 million.



Proceeds from the issue will be used for funding Tallinna Kaubamaja 

group working capital.





Katrin Mühls

CFO

+372 667 3373