In Brief: Polish Oil and Gas; Radio ZET signs Madonna; Inter Groclin Auto

According to the president of Polish Oil and Gas (PGNiG), Marek Kossowski, the company's IPO scheduled for May 2005 will raise about zł.1.5 billion. The additional cash will not be enough, however, to cover all the company's planned investments, which are forecast at about zł.7.2 billion for 2005-2007. The rest of the financing is to come from PGNiG's own capital and bank loans. (Puls Biznesu, p. 3) ... On September 13th Radio ZET will launch a huge advertising campaign starring pop singer Madonna. The campaign took 10 months to put together and will be the first one in history to use the most popular scenes from Madonna's legendary videos: Vogue, Material Girl, Frozen, Hollywood etc. "We managed to do the impossible," said Radio ZET's president Robert Kozyra. Madonna's partner in the commercials will be famous actor Zbigniew Zamachowski. (Puls Biznesu, p. 3) ... Inter Groclin Auto will invest more than EUR 4 million in its production plant in Ukraine by the end of 2004. The plant, which was officially opened last Saturday, will produce material to cover car seats. It now employs 240 people but this figure will more than double by the end of the year. (Puls Biznesu, p. 3) D.W.