Joint Press Release of the Baltic Stock Exchanges

July 1, 2004

As  a  next  step  towards  the  creation of a joint Baltic market, the

current  Baltic  List  consisting of 15 largest listed companies of the

Estonian,  Latvian  and  Lithuanian stock exchanges will be expanded to

comprise  all main list companies of the three exchanges as of today, 1

July 2004.



The securities will continue to be legally listed on their current home

exchanges, but marketed jointly under the Baltic List.



The  introduction  of joint Baltic market is related to the adoption of

the new trading platform in Estonia and Latvia at the end of September.

Nordic-Baltic trading platform will be adopted in Vilnius in 2005.



"The  Baltics are seen as a common investment area and our intention is

to integrate the markets as much as possible ahead of the step into the

new  Nordic-Baltic  trading  platform," Gert Tiivas, president of OMHEX

Baltic Operations, said.



At  the  end of September, I-List or secondary list companies will form

the  Baltic  I-List,  and  all listed bonds will be integrated into the

Baltic  Bond  List.  Concurrently  a new Baltic index will be launched,

which  will  serve  as a benchmark for the Baltic securities market. It

will  be  capitalisation-weighted  total-return index, comprised of all

Baltic List securities. History of the index will be calculated back to

January 2000.



From  1  July  2004,  the  composition  of  the Baltic List will be the

following:

+---+---------------------------------+-------------------+----------------+---------------------------------------------------------+

|   |             Company             |Home stock exchange|   Market cap   |Profile                                                  |

|   |                                 |                   |    (m EUR)     |                                                         |

|   |                                 |                   |as of 30/06/2004|                                                         |

|1. |Baltika                          |    HEX Tallinn    |            9.07|manufacture and retail sale of textile products          |

|2. |Eesti Telekom                    |    HEX Tallinn    |          947.75|telecommunications                                       |

|3. |Ekranas                          |       NSEL        |           71.86|manufacture of electronic equipment                      |

|4. |Hansapank                        |    HEX Tallinn    |        2,189.84|banking                                                  |

|5. |Harju Elekter                    |    HEX Tallinn    |           37.80|manufacture of electric supplies                         |

|6. |Latvijas Gaze                    |     HEX Riga      |          334.00|energy                                                   |

|7. |Latvijas Kugnieciba              |     HEX Riga      |          120.66|shipping                                                 |

|8. |Lietuvos Telekomas               |       NSEL        |          434.27|telecommunications                                       |

|9. |Merko Ehitus                     |    HEX Tallinn    |          127.44|construction                                             |

|10.|Norma                            |    HEX Tallinn    |           82.50|manufacture of seat belt and car accessories             |

|11.|Pieno Zvaigzdes                  |       NSEL        |           67.29|dairy products                                           |

|12.|Rokiskio Suris                   |       NSEL        |           93.00|dairy products                                           |

|13.|SAF Tehnika                      |     HEX Riga      |           56.25|communications equipment                                 |

|14.|Snaige                           |       NSEL        |          121.16|manufacture of refrigerating equipment                   |

|15.|Tallinna Kaubamaja               |    HEX Tallinn    |           46.09|retail                                                   |

|16.|Ventspils Nafta                  |     HEX Riga      |          252.14|handling and storage of oil products                     |

|17.|Utenos Trikotazas                |       NSEL        |           47.10|knitwear                                                 |

|18.|Vilniaus Vingis                  |       NSEL        |           22.38|manufacture of electronic radio and television components|

|19.|Vilniaus Baldai                  |       NSEL        |           27.46|manufacture of furniture                                 |

+---+---------------------------------+-------------------+----------------+---------------------------------------------------------+







As  of 30 June 2004, the total market capitalisation of the Baltic List

stood at EUR 5.09 billion.



For additional information or comments, please contact:



Krista Grintale

Kristi Kolk                             Diana Sokolova

Director    of    Corporate   Communications                  Marketing

Manager              Public    Relations   Manager                  HEX

Riga                                                                HEX

Tallinn                           National Stock Exchange of Lithuania

+371  7212431                                                      +372

640 8864                   +370 5 272 13 71

krista.grintale@rfb.lv 

kristi.kolk@hex.ee                diana@nse.lt 



About OMHEX: 



OMHEX  is  a  leading  provider of marketplace services and transaction

technology  to  financial  and  energy  markets.  Through  its exchange

operations within Stockholmsbörsen, HEX Helsinki, HEX Tallinn, HEX Riga

and  the  National Stock Exchange of Lithuania, OMHEX operates northern

Europe's  largest securities market and offers investors access to over

80%  of  the  Nordic  and Baltic equity markets. The central securities

depositories in Estonia and Latvia are also part of OMHEX .