XXL.EE

ANNOUNCEMENT



PARTIAL CANCELLATION OF DEBT



AS XXL.EE has reached an agreement with its major suppliers and 

creditors to write off half of XXL.EE's debts. According to the 

agreements, XXL.EE has paid EEK 2.1 million, or half of its 

debt to 11 major creditors, who in turn wrote off the remainder of 

their claims against XXL.EE. The aforementioned claims originate from 

the time period when XXL.EE (formerly AS PCT Group) was engaged in 

production and sale of computer and computer components.



AS XXL.EE will earn EEK 2.1 million of extraordinary income resulting 

from the agreement for partial cancellation of the aforementioned 

claims.



As of today XXL.EE and its subsidiaries are due EEK 0.8 million to 

their suppliers. On 01.01.1999, immediately after change of owners 

and management, the respective figure stood at EEK 11.4 million.



As of 10.08.2000 XXL.EE and its subsidiaries owe a total of EEK 7.8 

million in supplier payables and bank loans; on 01.01.1999 the 

respective figure stood at EEK 51.0 million.



AS XXL.EE





Arho Anttila, arho@xxl.ee

chief executive

+372 65 07 500