HÜVITUSFOND

ANNOUNCEMENT



ADDITIONAL INTEREST FOR H2 2000,NEW SUPERVISORY BOARD MEMBER



Supervisory Board of Hüvitusfond decided to pay no additional 

interest for H2 2000. Hüvitusfond's Supervisory Board decides the 

payment of additional interest based on the yields of comparable 

financial instruments and the fund's financial results.

Today Hüvitusfond's bonds yield higher than the comparable financial 

instruments (bank deposit), thus it is unreasonable to offer higher 

than market average yield. 

Hüvitusfond's Supervisory Board decides the payment of additional 

interest twice a year, no later than by January 20 and July 20.



Andres Trink, the head of the Estonian Central Bank’s Banking 

Supervision Department, replaced the current Central Bank’s 

representative Mr. Valdur Laid (Director of Bank of Estonia) in 

the Supervisory Board of Hüvitusfond (Compensation Fund). This week 

the President of the Bank of Estonia appointed Andres Trink as a 

member of Hüvitusfond’s Supervisory Board, and recalled Valdur Laid 

from the Supervisory Board.

In 1991 Andres Trink graduated cum laude from Tallinn Technical 

University, majoring in managing systems; in 1984 he graduated cum 

laude from Pärnu 1. Secondary School; from 1993 to 1997 he was 

economic policy advisor at the Estonian embassy in Washington D.C.; 

from 1997 to 1998 he was the Estonian director of Baltic-American 

Enterprise Fund; from 1998 he heads the Estonian Central Bank’s 

Banking Supervision Department. Andres Trink has taken several 

professional training courses at the US Bar Association and 

European Venture Capital Association, IMF, World Bank and other 

international financial institutions.



Hüvitusfond will publish its preliminary financial statements for 

year 2000 on week 7.





Jaanus Kosemaa

PR manager

+372 665 1800