CCP FUND INVESTS US1 MILLION IN CRO DELIVERY COMPANY

ZAGREB, June 6 (Hina) - The international investment fund, Croatia Capital Partnership (CCP) invested US$1 million in Croatian delivery company 'Overseas Express' and now holds 54 percent of the company. Founders and main stock holders of the CCP investment fund with US$30 million of registered stock capital are the European Bank for Reconstruction and Development (EBRD), the Zagrebacka Bank, the Cassamarca Bank from Treviso, the Erste Bank from Vienna, the International Finance Corporation (IFC) and the United States Advent International Fund. Apart from the investment in the 'Overseas Express' the CCP fund has already invested US$1.15 million in Croatian computer company Microlab- The executive director of the Adriatic CP, Croatia's branch office of a foreign management company which was trusted to manage the CCP fund property, Ante Cicin Sain spoke about CCP fund's investments in Croatia at Tuesday's press conference. He announced that another million dollars would be invested in Croatian Internet company Global Net. The investment in the company which provides Internet services could later increase by four to five million dollars, and the total capital of CCP fund in Croatia should amount to about US$7 million. Main criteria for possible investments in a company are company's chances for a high increase rate, namely about 15 percent. Representatives of the Adriatic CP have so far visited about 200 Croatian small and medium companies searching for good partners for investing. There is a possibility for us to invest in some companies that went bankrupt or are facing one which is supported by the Government's firm standpoint that it will not again financially reconstruct individual companies, said Cicin Sain. 'Overseas Express' delivers packages on Croatia. In 1999, it had over 5,000 clients, and it is estimated that the company holds about 25 percent of the overall distribution of packages in line with the "door-to-door" system. (hina) it jn