On  December  30,  1999,  a  letter of intent was signed by a/s "Balta"

shareholders:

Sampo   Enterprise   Insurance   Company   Limited,  a/s  Bastions  ZS,

Development  Capital Corporation and Vista Capital Corporation LLC. The

parties  intend  to  sign  an  Agreement in February, 2000, which would

provide  a  transfer  of  72.4%  of  Balta  shares,  presently owned by

Bastions   ZS,   Development  Capital  Corporation  and  Vista  Capital

Corporation, to Sampo Enterprise Insurance Company Limited.

Presently Sampo owns 14.8% of Balta shares.