SOLOMON ISLANDS GOVERNMENT SELLS SHARES IN TWO JOINT VENTURES

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HONIARA, Solomon Islands (May 7, 1999 - PACNEWS)---The Solomon Islands National Provident Fund has bought government shares in two joint venture companies.

The purchases, 15 percent of the government’s share in Solomon Islands Plantations, Ltd. and 48 percent in Solomon Telecom Co., Ltd., total more than US$ 10 million.

The government holds 58 percent of Solomon Telecom, a joint venture company with British Cable and Wireless.

Solomon Islands Plantation, Ltd. is a joint venture among the British owned Commonwealth Corporation, the Government and local landowners.

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