Exhibit 8
Statement of Subsidiaries
General. We have only one subsidiary, Slovak Wireless Finance Company B.V.
("SWFC"), which was incorporated on December 29, 1999 as a private company with
limited liability under the laws of The Netherlands. SWFC is a wholly owned
subsidiary and has no subsidiaries of its own. SWFC has an authorized share
capital comprised of 900 ordinary shares each with a par value of 100, of which
185 have been issued. The constitutive documents of SWFC are deposited with the
Chief Registrar of the District Court of Luxembourg ("Greffier en Chef du
Tribunal d'Arrondissement de et a Luxembourg"), where you can examine these
documents and obtain copies free of charge. You can also obtain copies from
Kredietbank S.A. Luxembourgeoise, our paying agent in Luxembourg.
Business. SWFC was formed solely for the purpose of issuing, in 2000, our 11
1/4% Senior Guaranteed Notes due 2007 (the "Notes") and raising future financing
for our business operations. SWFC may obtain additional financing by entering
into loan agreements and issuing additional securities. Debt owed by SWFC as a
result of any such additional financing may rank equally with the Notes.
Registered Office. The registered office of SWFC is Amsteldijk 166, 1079LH
Amsterdam, The Netherlands. Its telephone number is +30-21-644-6125.
Capitalization. The following table sets forth the capitalization of SWFC as
of the date of this annual report:
Share Capital:
Issued and paid in full - 185 shares, 100 par value (Euro 18,500)......... Sk 814,000
Debt:
175,000,000 11 1/4% Senior Guaranteed Notes due 2007
Series A, issued March 23, 2000 and not exchanged (Euro 5,500,000)....... Sk 241,978,000
Series B, exchanged for Series A on September 19, 2000 (Euro 169,500,000) Sk 7,457,322,000 Sk 7,699,300,000
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Total: Sk 7,700,114,000
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SWFC has no other securities outstanding.
Board of Director. The members of SWFC's board of directors are Thomas J.
Cancro, who is also the chief financial officer of EuroTel Bratislava, a.s., and
Forum Administrators, B.V. SWFC is managed by its board of directors, whose
members we elect and whom we may suspend or remove from office at any time after
the expiry of their initial term of one year.
Financial Statements. The financial statements of SWFC are included in our
consolidated financial statements.