73JC Beazley Ins 29

RNS No 5490c
TISZAI VEGYI KOMBINAT RT.
27th April 1998


NOTICE TO THE COMPANY ANNOUNCEMENTS OFFICE

Budapest

On April 23rd, 1998 Tiszai Vegyi Kombinat Rt. ("TVK") and The Croesus Central
European Corporate Restructuring Fund ("Croesus") signed an agreement to define
the terms of their future co-operation.

TVK and Croesus have concluded a co-operation agreement with respect to the
following points:

1.  Together the companies will seek to identify attractive investment
opportunities in the region to diversify TVK both geographically and
industrially.

2.  TVK will seek to list its shares on the New York Stock Exchange by the end
of 1998 to have access to the world's most efficient capital markets.

3.  In conjunction with the NYSE listing and to fund TVK's new aggressive growth
strategy TVK will seek to sell 11% of its shares which it bought in 1996.

The parties believe that the results of these actions will significantly enhance
the value of TVK and build on the excellent achievements realized by the company
to this date.

Miklos Varhegyi
CEO
Chairman of the Board of Directors

FROM TISZAI VEGYI KOMBINAT RT.

END

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