To increase its working capital, the largest company in Latvia - the IT wholesaler, JSC ELKO Group - extended their credit line to the amount of 127 million US dollars on October 1. The first agreement between the ELKO Group and the DnB Nord Bank, on the opening of a 60 million US dollar credit line, was concluded in 2006, to support the company's rapid development. Already in 2007, the amount of the credit facilities was increased up to 85 million US dollars. The agreement for a period of two years, signed on October 1, expands this credit line up to the record amount - 127 million US dollars. The extension of the credit line will help the company to stabilise its market positions, as well as provide the company with working resources to invest in the company's development, in order to keep achieving higher indicators of growth. ELKO Group JSC ELKO Group was established in 1993. The ELKO Group is the largest business in Latvia, and its turnover exceeded 1 billion US dollars last year. The company's main activity is the wholesale of computer equipment and electronics in the Baltics, Central Europe and the CIS. The company represents about 70 manufacturers and sells the goods to more than 6 300 retailers, local computer hardware manufacturers and system integrators. The ELKO Group offers more than 7 000 product items from the world's famous suppliers - "Acer", "Intel", "Seagate", "Samsung", "Sony", and "Western Digital". At the moment, the company employs 330 people. The ELKO Group is owned by several private individuals, as well as by the "East Capital" and "Amber Trust" investment funds. Further information: Anna Darzina ELKO Group Corporate Marketing Project Manager tel.: +371 67092324 fax: +371 67093294 anna.darzina@elkogroup.com