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$340 MILLION IN FINANCING FOR BUSINESSES IN POLAND

 NEW YORK, Feb. 11 /PRNewswire/ -- The Polish-American Enterprise Fund has released its 1992 Annual Report outlining substantial progress in its efforts, primarily through equity investments and loans, to encourage private sector development in Poland. Its most important achievement during 1992 was the establishment of the Polish Private Equity Funds - attracting an additional $100 million for side-by-side investments to supplement the Enterprise Fund's capital of $240 million.
 Since beginning operations in 1990, the Polish-American Enterprise Fund has closed investments in Poland totaling more than $100 million, providing financing to more than 1,700 private businesses. The Enterprise Fund has extended its reach through intermediary financial institutions, such as the Enterprise Credit Corporation -- a small business lending facility -- established in 1990, and the Polish- American Mortgage Bank -- the first private institution in Poland specializing in residential construction lending and fixed-rate, fixed- term mortgages -- established in 1992. The Enterprise Fund's 1992 Annual Report describes these activities as well as 30 major equity investments and loans directly supporting private businesses.
 During 1992, the Enterprise Fund also established Enterprise Investors which, through offices in New York and Warsaw, serves now as the investment management company for both the Polish-American Enterprise Fund and the Polish Private Equity Funds. In managing the assets of these two significant pools of capital, the managers of Enterprise Investors employ the same approach as when serving solely as the staff of the Enterprise Fund. Enterprise Investors invites financing requests from Polish private businesses, joint ventures, companies undergoing privatization and American or other foreign firms operating businesses in Poland.
 -0- 2/11/93
 /EDITOR'S NOTE: For more information, or copies of the 1992 Annual Report, contact Francis J. Skrobiszewski, vice president, Enterprise Investors, 212-339-8330 or fax 212-339-8359 in the U.S.; or Ryszard Kruk, vice president, Enterprise Investors, 48-2-625-1921 or fax 48-2- 625-7933 in Poland/
 /CONTACT: Francis J. Skrobiszewski of the Polish-American Enterprise Fund, 212-339-8330/


CO: Polish-American Enterprise Fund ST: New York IN: FIN SU:

BM -- CL009 -- 5729 02/11/93 12:59 EST
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Date:Feb 11, 1993
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