ComputerLand set to issue up to zl.100 million in bonds

Polish computer system integrator ComputerLand announced on Tuesday it will issue convertiblebonds in the beginning of April valued up to zl.100 million.The issue is intended to raise capital for the company following high-cost restructuring that took place last year. Funds earned will be used for investment in new technology, which according to plans should amount to zl. 170 million by the end of 2002. In particular, the company plans bigger investments in the Internet market, namely IT trade and implementation of IT software and hardware systems. An additional field of investment is software leasing through the Internet and outsourcing of information technology services. ComputerLand anticipates significant income from these technologies. In 2000 the company increased its revenues by 6.5% to zl. 466.2 million and its net profit by 50.3 percent to zl. 24.2 million compared to 1999. (Gazeta Wyborcza, p. 23; Prawo i Gospodarka, p. 12) M.T.