BRE Corporate Finance to lead Grupa Lotos into the Warsaw Stock Exchange

Nafta Polska has chosen BRE Corporate Finance (CF) to advise Grupa Lotos, the second largest national oil company, on entering the stock exchange. "The adviser must present their strategy by September 20," said Krzysztof Żyndul, president of Nafta Polska. NP representatives believe that the debut is possible during the first quarter of 2005. "The good results of Grupa Lotos, the boom on the bourse and the high pace of economic growth have encouraged us to start the issue. "But we have some fears concerning the financial condition of the three Southern refineries, Jasło Czechowice, Glimar and Petrobaltic, which are to be merged with Grupa Lotos," revealed a person close to NP. (Puls Biznesu, p. 8) A.F.