73JC Beazley Ins 29

RNS No 0831b
TISZAI VEGYI KOMBINAT
31 May 1999

In accordance with 50 of Act CXI of 1996, the management of Tiszai Vegyi
Kombinat Rt. informs its shareholders that the company's tax liability is
reduced by HUF 1,353,573 thousand compared to the report approved by the Annual
General Meeting, thus the profit after tax and the consolidated profit increased
by HUF 1,353,573 thousand.

TVK Rt. adopted the principle of prudence in its annual report about 1998 and
thus calculated with 100% tax payment obligation.

Following the Annual General Meeting, the Corporate Tax Act's subsequent
interpretation supported with the position taken up by the authorities made
possible the 50% investment tax allowance in the tax declaration filed on the
31st of May, 1999.

END


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