AS Balti Investeeringute Grupp (BIG) will issue bonds worth 2.5 million kroons with a sales price of 100 kroons.

The sale of debt instruments begins on 18 October and the primary distribution period lasts for up to 30 November. Within the issue, the bonds will be issued in two series. For the 1st-series bonds, the redemption deadline is 1 December 2002, the interest rate is 9.5% per year and the total value 0.5 million kroons. For the 2nd-series bonds, the redemption deadline is 1 December 2002, the interest rate is 10% per year and the total value is 2 million kroons.

According to Ingo Põder, the Chairman of the Management Board of AS Balti Investeeringute Grupp, the company will use the additional financial means received from issuing the bonds for giving loans, the capacities of which have grown almost 20% when compared to the previous year.

This issue is the fifth public issue of bonds of AS Balti Investeeringute Grupp. In the course of previous public issues, bonds have been issued with the total value of three million kroons in 1995, four million kroons in 1996, six million kroons in 1999 and four million kroons in May 2001.

The net profit of the AS Balti Investeeringute Grupp for the eight first months of this year is almost 4 million kroons, which is 20% more than for the same period of the previous year. The audited net profit of the company for the previous year was over 5 million kroons.

With about 2700 clients, AS Balti Investeeringute Grupp is the largest lender of money to private persons in the Baltic States after banks and leasing companies. In 1992 BIG was founded in Tartu. In 1993 the company expanded to Tallinn and in 1994 to Pärnu. The first foreign subsidiary - AS Vidzemes Kredits - was established in Riga in 1996. The main areas of activity of the subsidiary are similar to those of the parent company.

Further information:
Ingo Põder
Chairman of the Management Board of AS Balti Investeeringute Grupp
Tel. 07 441 950