CCP FUND TO INVEST US5.3 MILLION INTO GLOBAL NET GROUP COMPANY

ZAGREB, June 19 (Hina) - The international investment fund Croatia Capital Partnership (CCP) is planning to invest a total of US$5.3 million into the Croatian Internet company 'Global Net Group'. This was announced at a Monday news conference, held by the company representatives, who said the CCP would acquire a 60 percent share in the company in the first investment stage. The founders and main shareholders of the CCP investment fund, with US$30 million of capital stock, are the European Bank for Reconstruction and Development (EBRD), Zagrebacka Bank, Cassamarka Bank from Treviso, Erste Bank from Vienna, International Finance Corporation (IFC), and the US Advent International Fund. Apart from the latest investment, the CCP fund recently announced its investment of US$1.15 million into the information company Microlab and of another million dollar into the delivery company 'Overseas Express'. Global Net Group has also announced a new product on the Croatian market of Internet services - prepaid coupons, which enable the cheapest access to the Internet in Croatia, with total cost control. The coupons will be available on kiosks. Global Net services can be used by customers from Zagreb and Zagreb County (01) and Primorje-Gorski Kotar County (051). The company has announced that it will expand its market in several weeks to include the entire Croatia. The company plans to have some 15,000 clients - Internet users by the end of this year. A recent decision by the Croatian Telecommunications Institute, according to which Hinet, the Internet provider owned by the Croatian Telecom, ceased to be the only provider of Internet services according to local phone rates, will enable Global Net to access the entire Croatian market. (hina) jn rml