PRO KAPITAL

ANNOUNCEMENT



SALES REPORT, JULY 2000



The current report provides an overview of Pro Kapital real estate 

sales in July 2000.



In Estonia Pro Kapital has developed and sells premises in Ilmarise 

dwelling quarter, Vene St.19 and Narva St.13a in Tallinn. In July the 

company sold in Estonia 258m2 of different premises for total of 

EEK 4,106,000.



In Latvia Pro Kapital has developed and sells premises in 

condominium/office building located in the center of Riga (address 

Stabu 19). In July the company sold in Latvia 39 m2 of different 

premises for total of USD 70,000 or EEK 1,183,000 (1 USD=16.9 EEK).



Currently Pro Kapital does not have real estate objects for sale in 

Lithuania.



Pro Kapital's total real estate sales in the Baltic countries in July 

2000 amounted to EEK 5,289,000.





Additional information:



Andrus Laurits

CEO, Pro Kapital Eesti 

Tel. +372 614 4920



Alessandro Gelli

CEO, Pro Kapital Latvia 

Tel. +371 732 3128





Ilona Saari

Management Board member

+372 614 4920