BIG Bank Gdanski Secures Ђ50 million Factoring Contract


The Management Board of BIG Bank GDANSKI S.A. ("the Bank") announced that on 29 August 2002, FORIN Sp. z o.o. with the corporate headquarters in Warsaw (subsidiary of the Bank) signed the annex to the contract concluded with "Nadwislanski Wegiel" S.A. with the corporate headquarters in Tychy.

The contract is for acquiring receivables of "Nadwislanski Wegiel" S.A. and monitoring, collection and settlements of those receivables by FORIN Sp. z o.o.

According to the annex, FORIN Sp. z o.o. has committed itself to acquiring the receivables of "Nadwislanski Wegiel" S.A. up to PLN 205 million (Ђ50.58 million).

Source: RNS The company news service from the London Stock Exchange



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