The European Investment Bank, the European Union's long-term financing institution is lending DKK 200 million (ECU 27 million)(1) for the construction of manufacturing facilities for catalysts in Denmark. The loan is going to Haldor Topsoe A/S, one of the world's leading companies in the field of catalyst development and production. It will help finance the expansion of manufacturing facilities for catalysts and support R&D activities located in Frederikssund (Sjaelland).

The investment contributes to maintaining the promoter's position in highly competitive and open world markets. The catalysts will be used mainly in environmental improvement applications contributing towards up-grading of combustion or industrial processes. The investment will help to create about 120 new permanent jobs.

Dr. Topsoe, founder of the company and chairman of its Board of Directors, signed the finance contracts on 04.06.98 and underlined his appreciation of the co-operation with the EIB and the commercial banks co-financing the project.

(1) The conversion rates used by the EIB for statistical purposes during the current quarter are those obtaining on 31.3.1998 when 1 ECU = 40,98 BEF, 6,65 FRF, 0,64 GBP, 7.57 DKK.