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THE ADMINISTRATION OF PETERSBURG AND BANK CREDITANSTALT HAVE SIGNED THE WORLD

				
				
				
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THE ADMINISTRATION OF PETERSBURG AND BANK CREDITANSTALT HAVE SIGNED THE WORLD
THE AGREEMENT ON CITY DEBTS ON DOLLARS CREDIT IN VOLUME OF 130 MILLION
      St.-Petersburg, on January, 15th. A/PRIME-TASS/. Administration Sankt -
Petersburg and Austrian bank Creditanstalt/earlier - credit Bank
Austria Creditanstalt/have signed on Tuesday the agreement of lawsuit about
Settlement of debts of a city on 130 million credit in volume doll,
Given out on hotel building "the Neva oriental carpet". On it has informed
The press-service of the governor of St.-Petersburg.
     The representative of bank also has handed over to the governor the letter on the termination
Guarantees according to which the Austrian bank more does not consider
The government of St.-Petersburg the respondent under the credit which has been given out by Open Company
"The Neva oriental carpet".
     As informed before the PRIME-TASS, the bank has granted the loan for a period of 5
Years under guarantees of St.-Petersburg the Executive committee/guarantee certificate
Lensoveta/. Soviet-Austrian joint venture "Hermes" was the addressee of the credit,
Which after several reorganisation in 1999 g has been transformed in
Open Company "Neva oriental carpet".
      Shareholders of Open Company "Neva oriental carpet" are administration Sankt -
Petersburg - 51 percents, Open Company "Hermitage" the/owner - an administrative office
President RF/-39 percents, ABV Hotel-Invest - 10 percents Property
The hotel complex "Neva oriental carpet" belonged till now Sankt -
To Petersburg/more than 90 percents / and Open Company "Neva oriental carpet".
      According to the confirmed scheme, the Maltese hotel operator
Corinthia Hotels International has got at St.-Petersburg its share in
Property complex of hotel "Neva oriental carpet", and also will receive in
The established order on investment conditions / of the right of reconstruction
Houses NN 55 and 59 under the Neva prospectus and houses N10 on street Stremjannoj.
As payment Corinthia will extinguish St.-Petersburg before
Creditanstalt a debt which taking into account penal sanctions makes nearby
150 million dollars
     The remained share/10 percents / of a property complex of hotel "Neva
Oriental carpet "Corinthia has got at Open Company" Neva oriental carpet ". Meeting of participants
Open Company 2001 g has approved on September, 25th dogovory under this transaction.
      According to the approved scheme, committee on management
City property of St.-Petersburg has concluded with Corinthia the contract about
To sale of a share of a city in the right of the general share property on
Property complex "Neva oriental carpet". The corresponding ground
Sites Corinthia has received in rent for 49 years with prolongation possibility
Term of rent and with the right to redeem the ground areas.
      Earlier the administration of St.-Petersburg carried on negotiations for sale
The share in Open Company "Neva oriental carpet" with company Starwood, the owner
Stamps Sheraton which now operates hotel. Starwood has refused
From hotel acquisition in the property as it contradicts
Concepts of development of business of the company: Starwood is the managing director
The company also has no hotels in the property. After change of the proprietor
"The Neva oriental carpet" Starwood will lose the contract on management of hotel and it
Will cease to belong to network Sheraton.
     Corinthia Hotels International owns or operates 18th hotels
High class on Malta, in Czechia, Turkey, Hungary, Tunis,
Portugal and Gambia. Is a part Corinthia International Group,
Which co-owners along with Maltese family Pizani are
A little Libyan kompanij. - 0 -
//* an information Source: the Prime-TASS (vecher.vyp), 15.01.02
//* Reg. Nom. - 1120100124.88-------------------------------------------