Baltic Investment Group            ANNOUNCEMENT                         24.11.2004



BALTIC INVESTMENT GROUP APPLIES FOR CREDIT INSTITUTION ACTIVITY LICENCE



The Baltic Investment Group (BIG) has initiated the process of obtaining a  credit

institution activity licence.

Today, functioning as a financial institution, the enterprise's  money-involvement

options  are  substantially  more  limited  than   those   available   to   credit

institutions. On the Estonian financial market, BIG  is  the  largest  specialised

lender of property-based small loans after banks and  leasing  companies.  As  the

enterprise grows, it becomes necessary to involve money from the public.



The enterprise considers it strategically important to  begin  organising  in  the

future public debt instrument issues and involve time deposits.

"The Baltic Investment Group is planning  long-term  operations  in  the  consumer

financing sector and that  is  why  we  deem  it  essential  to  ensure  that  the

enterprise enjoys a stable financial base even when it expands,"  commented  Targo

Raus, Chairman of the Board of BIG, on the application for the credit  institution

activity licence, adding that the process has only just begun.



The enterprise intends to submit to the Financial Supervision  Authority  all  the

documents required to apply for the activity licence before the end of this year.



AS Balti Investeeringute Grupp is the  largest  specialised  lender  of  money  to

private persons in the Baltic States after banks and leasing companies.  The  goal

of the enterprise is to provide both private and  business  customers  with  fast,

attentive and flexible financial services. As of September 30th of this year,  the

enterprise's balance sheet total constituted 240  million  kroons  while  the  net

loan portfolio reached 196.1 million kroons.





Targo Raus

Chairman of the Board

targo.raus@big.ee