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CORPORATE NEWS

Sporiteľňa sells Benzinol shares

Slovenská Sporiteľňa (Slovak Savings Bank - SLSP) Inc., Bratislava, in the last week of July sold an almost 30-percent stake in Benzinol for 358.9 million Sk (505 Sk per share) to the as yet unknown company Slovbena Inc. SLSP's stake in Benzinol thus declined from 34 to 4 percent while Slovbena became a strategic investor, controlling a 29.99 percent stake. Slovnaft still has the biggest say in Benzinol with their 51 percent stake, while the employee company Bena Trade Inc., Lučenec, controls another 12 percent. SLSP purchased 34 percent of Benzinol's shares from the National Property Fund (FNM) for 500 Sk per share in December 1996.

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