PRO KAPITAL GRUPP

ANNOUNCEMENT



SUPERVISORY BOARD DECISIONS



On 18.04.2001 the Supervisory Board of AS Pro Kapital Grupp 

approved Management Board proposal for acquisition of

51% (fifty one per cent) in PK Investments SIA shares.

Management Board members were authorized to arrange

the acquisition of shares and to conclude the sales

contract.

PK Investments is currently establishing one of the 

Baltics biggest shopping centers in Riga, Latvia

located on the premises of former VEF factory.



The Supervisory Board discussed also other possibilities

of applying the proceeds from eurobond issue.

The Management Board was authorized to acquire real estate

in Roquebrune Cap Martin, France for up to EEK 21 million.



The Management Board was authorized to acquire real estate 

in Estonia located near Peterburi Rd. for up to 1,500 EEK/m², 

and near port and Old Town of Tallinn for up to 2,400 EEK/m².





Ilona Saari

PK Group, Board member

+372 614 4924