TALLINNA KAUBAMAJA AS

ANNOUNCEMENT 

18.02.99

 

THE ISSUE OF COMMERCIAL PAPERS

 

Tallinna Kaubamaja AS will on February 19 1999 issue 13 million 

kroons in short-term commercial papers to yield 13% annually. 

 

The nominal value of a commercial paper is 100,000 kroons. The 

maturity date of CP-s is on June 2 1999.

 

The aim of the issue is to reduce interest expenses by replacing 

current short-term liabilities (overdraft, loans).

 

The issue is managed by Hansabank Markets.

 

 

Urmo Vallner

Member of Management Board

+372 6 400 200