73JC Beazley Ins 29

RNS No 8889j
TISZAI VEGYI KOMBINAT RT.
28th July 1998

On the 24th of July 1998, TVK signed a 7 year maturity facility agreement of
DEM260 million at LIBOR + 0,5%, with a syndicate of banks arranged by Bayerische
Landesbank, Central-European International Bank Ltd., Magyar Kulkereskedelmi
Bank Ltd., National Savings and Comnmerical Bank Ltd., and Raiffeisen Unicbank
Ltd. The facility shall be repaid in 10 semi-annual installments with the first
installment being due and payable in 2001. The purpose of the facility is
primarily to finance the construction of the new polypropylene plant and the
capacity intensification of the already operating Olefins Plant.

END

MSCAWONKWNKBURR

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