Riga, 20 September - the leading Baltic telecoms equipment designer and

manufacturer  JSC  SAF  Tehnika has concluded a 2 years guarantee limit

contract with Nordea Bank Finland Plc Latvian Branch. 



The  Latvian  manufacturer  SAF  Tehnika  is  a frequent participant at

international  tenders  where  the  bank  guarantee  is  an  obligatory

requirement.  The  500 000  EUR  guarantee limit contract will give SAF

Tehnika opportunity to extend activities in Central Asia.



For more information:

Aleksis Orlovs

SAF Tehnika AS

Financial Director

tel. +371 7046825

fax. +371 7020009

mob.+371 9287289

aleksis.orlovs@saftehnika.com 



About JSC "SAF Tehnika":

SAF  Tehnika  is Baltic`s leading designer and manufacturer of telecoms

equipment,  which  exports  over  90% of its production to more than 30

countries.  Its  partners  include  telecoms  service  providers,  data

transmission service providers, and state and private enterprises. Over

a  five-year  period  the  company  has  built  up an impressive client

protfolio   including   Tele2,  Lattelekom,  Omnitel  (the  TeliaSonera

subsidiary in Lithuania), China Mobile, China Unicom, China Telecom and

other  mobile  and  fixed  telecoms  operators. According to un-audited

financial  results for this financial year which ended on 30 June 2004,

the  company's turnover was LVL 12,824,135 and profits for the reported

year  totaled LVL 3,915,598 in the 12 months of the 2003/2004 financial

year.