Joint Press Release of the Baltic Stock Exchanges 



From  1  October  2003, after the approval of the Estonian, Latvian and

Lithuanian  stock exchanges, the composition of the Baltic List will be

the following: 



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

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

|    |                      |                   |(million EUR) as of 15/09/2003|                                                         |

|1.  |Eesti Telekom         |    HEX Tallinn    |           1014.44            |telecommunications                                       |

|2.  |Ekranas               |       NSEL        |            77.02             |manufacture of electronic equipment                      |

|3.  |Hansapank             |    HEX Tallinn    |           1678.09            |banking                                                  |

|4.  |Harju Elekter         |    HEX Tallinn    |            35.15             |manufacture of electric supplies                         |

|5.  |Latvijas Gaze         |        RSE        |            362.44            |energy                                                   |

|6.  |Latvijas Kugnieciba   |        RSE        |            117.46            |cargo shipping                                           |

|7.  |Lietuvos Telekomas    |       NSEL        |            379.98            |telecommunications                                       |

|8.  |Merko Ehitus          |    HEX Tallinn    |            97.35             |construction                                             |

|9.  |Norma                 |    HEX Tallinn    |            92.66             |seat belt manufacturing                                  |

|10. |Pieno Zvaigzdes       |       NSEL        |            29.73             |dairy products                                           |

|11. |Rokiskio Suris        |       NSEL        |            62.94             |dairy products                                           |

|12. |Snaige                |       NSEL        |            102.45            |manufacture of refrigerating equipment                   |

|13. |Tallinna Kaubamaja    |    HEX Tallinn    |            29.19             |retail sales                                             |

|14. |Ventspils Nafta       |        RSE        |            203.47            |handling and storage of oil products                     |

|15. |Vilniaus Vingis       |       NSEL        |            21.14             |manufacture of electronic radio and television components|

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







As of 15 September 2003, the total market capitalisation of the list of

the  Baltic  blue-chip  securities  stood at EUR 4.30 billion (EUR 3.61

billion as of 13 June 2003).



Further  information  about  the  Baltic List is available on the joint

Internet     homepage     of    the    three    Baltic    bourses    at

<a href='http://www.baltic-exchanges.com' target='_blank'>http://www.baltic-exchanges.com</a> 



Additional information:

Kristel Raesaar                                          Diana Sokolova

Public  Relations  Adviser                            Public  Relations

Manager

HEX     Tallinn                                                National

Stock Exchange of Lithuania

Tel:  +372 64 08 849                                 Tel: +370 5 272 13

71

e-mail: kristel.raesaar@hex.ee                 e-mail: diana@nse.lt 



Krista Grintale

Director of Corporate Communications

Riga Stock Exchange

Tel: +371 72 12 431

krista.grintale@rfb.lv