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ENTERPRISE FUND CLOSES $80 MILLION IN INVESTMENTS IN POLAND

 ENTERPRISE FUND CLOSES $80 MILLION IN INVESTMENTS IN POLAND
 NEW YORK, Nov. 29 /PRNewswire/ -- The Polish-American Enterprise Fund released its 1991 Annual Report today showing it had closed investments in Polish private businesses totaling more than $80 million in the last year. An additional $25 million in investment commitments that were made are in the closing process.
 By the end of its first full fiscal year, the Enterprise Fund had approved a total of $111.4 million, including investments and technical and other assistance, to promote private sector development in Poland. More than 500 Polish businesses are benefitting from Enterprise Fund financing, which spans diverse industries and ranges in amount, with the largest investment to date of $15 million.
 "Our objective is to encourgage the development of the Polish private sector through financial support to commercially viable ventures that offer the potential for growth and profitability. We are encouraged by the accomplishments of the past year," said John P. Birkelund, chairman of the Polish-American Enterprise Fund.
 The Enterprise Fund is a private corporation established by President Bush and Congress, tapping the expertise of investment professionals, to make investments encouraging Polish private sector development. The U.S. Congress authorized $240 million in initial capital to the Polish-American Enterprise Fund over a three-year period to provide investments, loans and other assistance to private businesses in Poland.
 "As a nation undergoing economic transformation, Poland offers investors opportunities to achieve substantial rewards. At the same time, it presents a challenging environment in which to invest," said Robert G. Faris, president and chief executive officer of the Polish-American Enterprise Fund.
 He explained, "Not every venture will succeed, but investors who are prepared to commit the time and energy required to conduct business in Poland can improve their chances of identifying the better opportunities.
 "We have built an experienced team of investment officers, working out of our offices in New York and Warsaw, that have enabled the Enterprise Fund to invest a substantial amount of capital in Polish private businesses," Faris added.
 -0- 11/29/91
 /CONTACT: Francis J. Skrobiszewski, U.S. vice president, 212-339-8330, or 703-549-4711 (Nov. 29-Dec.1), or Ryszard Kruk, Poland vice president, 011-48-2-625-1921, both of The Polish-American Enterprise Fund/ CO: The Polish-American Enterprise Fund ST: New York IN: SU:


DA -- CL009 -- 8019 11/29/91 09:01 EST
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Date:Nov 29, 1991
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