73JC Beazley Ins 29

RNS No 2377h
TISZAI VEGYI KOMBINAT RT
28th August 1997

LETTER TO:  COMPANY ANNOUNCEMENTS OFFICE

As we know, APV Rt. sold the 760,000 TVK shares in its possession at a rate of
4,010 Ft/share on August 15, 1997.  TVK is due to get 20% of those proceeds, too
as a share of the privatisation revenue (PEH).  With regard to the Amendment to
Act XXXIX that has come into force in the meantime, the Company has to issue
employees' shares in a value equivalent to TVK's share of the privatisation
revenue becoming due to TVK following the date of June 24, 1997.

On its meeting on August 27, 1997, the Board of Directors instructed the
Management to submit a proposal to the Annual Meeting in 1998 for the issue of
employees' shares in a value totalling the share of the privatisation revenue
transferred to TVK on the sales of shares on August 15, 1997.  In order to keep
the level of the registered capital, the proposal should also provide for the
withdrawal of shares held by the Company in a value identical with the value of
shares to be issued in the way described above.

FROM:  MIKLOS VARHEGYI
       CEO, CHAIRMAN

END

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