RNS Number:3380U
Czech & Slovak Inv.Corp.Inc
16 January 2004

                    CZECH & SLOVAK INVESTMENT CORPORATION INC, 
                         DISTRIBUTION TO SHAREHOLDERS

The Board of Directors of Czech & Slovak Investment Corporation Inc. (the
"Company") today announces that, further to the Circular to Shareholders dated
20 December, 2001, the third distribution has been set at an amount of 30 cents
per share for a total amount of US$1,550,100. Payment will be made on 2 February
2004 through the Company's Registrar, Capita IRG Plc.

The distribution has been made following a review of the Company's available 
cash balances.

As at close of business on Tuesday 13 January 2004, the Net Asset Value of the
Company was as follows:-

Total NAV:                       US$15,686,678 
NAV per Share:                       US$3.0359


Contact:  Craig Cleland
          J.P. Morgan Management (Jersey) Limited            00 44 207 742 3418
   


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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