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POLISH-AMERICAN JOINT VENTURE TO PUBLISH YELLOW PAGES

 NEW YORK, July 28 /PRNewswire/ -- The Polish-American Enterprise Fund and the Polish Private Equity Funds have announced a joint venture with NYNEX (NYSE: NYN) and Andrzej Bonarski, a Polish entrepreneur, to publish telephone directories in Poland. The new venture, Polish Telephone Directories, will be the official publishing representative of the Polish national telephone company for directories throughout Poland.
 "With this venture, we have brought together complementary American and Polish capabilities, supported by Western capital, to build an institution vital to the development of the Polish private sector," said Robert G. Faris, president and CEO of the Polish-American Enterprise Fund.
 Polish Telephone Directories, known in Poland as Polskie Ksiazki Telefoniczne, Sp. z.o.o., ("PKT") will incorporate the local experience and existing contracts of a Polish private enterprise, Andrzej Bonarski Publishing House, which has been actively publishing directories for more than two years, with the world-class directory publishing and information business operating experience of NYNEX Yellow Pages. In addition to its cash investment, NYNEX will assist in overall management of PKT and over time transfer its technical know-how. The national telephone company Telekomunikacja Polska, also a partner, will provide an expanded data base of phone listings.
 The Polish-American Enterprise Fund is a private corporation created in 1990 at the initiative of the U.S. Congress and the President to encourage Polish private sector development. Authorized to receive $240 million in capital, it has attracted an additional $101 million for side-by-side investment in Poland through the establishment of the Polish Private Equity Funds. The Polish-American Enterprise Fund and its affiliated funds have been responsible for the disbursement of more than $128 million in equity investments, loans and technical assistance and for commitments of an additional $90 million, providing financing to more than 2,300 private businesses throughout Poland.
 "This investment supports the development of a business which has traditionally been a very important stimulus to developing economies of other countries, and provides capital and strong strategic partners for a Polish entrepreneur who has successfully built the foundation of the business in Warsaw and Katowice," said Barbara J. Lundberg, executive vice president and general director of the Enterprise Fund's Warsaw office.
 -0- 7/28/93
 /CONTACT: Francis J. Skrobiszewski, vice president of the Polish- American Enterprise Fund (United States), 212-339-8330 or fax 212-339-8359; or Ryszard Kruk, vice president of the Polish-American Enterprise Fund (Poland), 48-2-625-1921 or fax 48-2-625-7933/
 (NYN)


CO: Polish-American Enterprise Fund; Polish private Equity Funds;
 NYNEX; Polish Telephone Directories; Telekomunikacja Polska ST: New York IN: TLS SU: JVN


KL -- CL003 -- 6646 07/28/93 09:19 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
Words:426
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