RSE  Management  Board  resolved  on  its  meeting  of  May 19, 2004 to

transfer  JSC "Rīgas Sporta pils" to Surveillance list from May 19. The

reason  is  the  failure, on behalf of the issuer, to disclose material

information  that may affect the share price, and the breach of the RSE

Rules and Financial Instrument Market Law.



Pursuant  to the provisions of Financial Instrument Market Law (Article

54.7),  in  case a general meeting of shareholders intends to amend its

Charter, a listed company has to provide the draft charter to the stock

exchange  at  least 14 days prior to the meeting. Also, pursuant to the

RSE  Financial  Instrument  Listing Rules and disclosure rules, "Sporta

pils" has to provide the rest of draft resolutions on May 21 AGM agenda

items.



Despite  repeated  reminders  and requests, and also the caution of May

17,  up  to  now, Company has failed to provide the said information to

the RSE, thus jeopardising market safety.



More information:

Krista Grīntāle

Director of Corporate Communications Department

Riga Stock Exchange

Phone: 7212431