AS PENNU COMPUTER TECHNOLOGY GROUP

ANNOUNCEMENT

22.06.99

 

SALE OF HOLDING IN ASSOCIATED COMPANY

 

AS Pennu Computer Technology Group (PCTG) sold its 20% holding in 

AS 

Kernel to the company’s co-owners. Cost of transaction was 80 000 

EEK.

 

PCTG hereby confirms that the transaction cannot be viewed as trade 

with related parties as defined by the Rules and Regulations of the 

Tallinn Stock Exchange. Sale of holding in AS Kernel does not 

affect 

the sales results of PCTG.

 

Sale of holding in AS Kerneli is the next step on implementation of 

new sales strategy of PCTG, which anticipates the disposal of 

majority of computer stores and transition to franchising system. 

The 

aforementioned transaction will not affect successful cooperation 

between PCTG and Kernel, which is expected to continue in the 

future.

 

 

Additional information:

 

 

Arho Anttila

Executive Manager 

AS PCTG 

tel: +372 6 505 402