In Brief: DEC sale; Zero VAT upheld; Euro portal; Compesa; Hestia losses

The oil holding firm Nafta Polska S.A. disclosed that it had agreed to terms for selling off 100% of oil tanks storage authority Dyrekcja Eksploatacji Cystern (DEC) to GATX Rail Overseas Holding Corporation of the U.S. (Rzeczpospolita, page B2) ... In defiance of European Union (EU) recommendations, the Cabinet has voted to uphold a zero value-added tax (VAT) on books and print media until 2007. (Rzeczpospolita, page B2) ... The Polish Press Agency (PAP) has launched a new portal www.euro.pap.com.pl that will publish topics about Poland's integration with the EU. It is part of a campaign aimed at raising European awareness among the Poles. (Prawo i Gospodarka, page 4) ...Insurer TU Compensa has today issued 1.598 million shares aimed at raising enough capital to improve the company's solvency. (Prawo i Gospodarka, page 10) ... Hestia Insurance incurred losses of zl. 18.34 million mostly due to unfavorable vehicle insurance deals last year. (Prawo i Gospodarka, page 10). S.M. Correction: Poland A.M., Friday, July 14, 2000 should read: "Accor was in talks with Orbis employees and assured none of the 8,500 employees would be laid off up to 2003." We regret the error.