Agenda  of  JSC "Pirmā banka" AGM of shareholders, to be held on March

27, 2003:

1. Review and approval of Annual Report for 2002;

2.  Discharge  of  Management  Board  members  from  liability for 2002

operations;

3. Distribution of 2002 profits;

4. Amendments to the Bank Charter;

5. Review and approval of the budget and operational plan for 2003;

6. Changes in Management Board;

7. Elections of auditor for 2003;

8. Other business.

Draft resolutions of the AGM: 

Review and approval of Annual Report for 2002; 

To  approve  the  Annual  Report  and  Report on Dependency for 2002 as

submitted by Management Board and checked by Supervisory Board.

Discharge   of   Management  Board  members  from  liability  for  2002

operations; 

To discharge Management Board members Jurgen Machalett, Andris Ozoliņš,

Aivars  Flemings  and  Rudolf  Francis  Karges  from liability for 2002

operations.

Distribution of 2002 profits; 

"Pirmā  banka"  made  a  profit  of  LVL  1  336  244.64 in 2002, to be

distributed as follows:

1.  To  pay  out  dividend  LVL  0.06 per share, amounting to LVL 1 209

653.76,  dividend  record date is on April 22, 2003 and payment date is

on April 29, 2003.

2.  To  transfer  the  remaining part of the profit, LVL 126 590.88, to

offset the previous years' losses.

Amendments to the Bank Charter 

To make the following amendments to "Pirmā banka" charter:

1.  In  the title page and in Article 1.1 of the Charter to replace the

words "Pirmā banka" with words "NORD/LB Latvija";

2. To delete Article 1.8.

To  charge  the  Management  Board  with the obligation to register the

amendments  to  the  Charter  in  Company Register and to undertake any

other  actions  that  are  necessary  for  the  amendments to come into

effect.

Review and approval of the budget and operational plan for 2003; 

1.  To  approve  "Pirmā  banka"  budget for 2003 with the following key

items:

  * Total assets: LVL 201 343 000;

  * Capital and reserves: LVL 23 352 000;

  * Net interest income: LVL 5 959 000;

  * Other revenues: LVL 3 140 000;

  * Expenses: LVL 7 160 000;

  * Remuneration  to  Management  Board  and Supervisory Board: LVL 392

    000;

  * Net profit: LVL 1 597 000;



and operational plan for 2003 with the following key tasks:

  * To   focus  on  increasing  the  market  share  in  retail  market,

    especially in the area of mortgage lending, consumer loans and bank

    card products;

  * To  retain  the  growth rate of 2001-2002 in the corporate services

    sector;

  * To  continue  developing  the  bank network, especially in Riga, by

    opening 5 new branch offices for retail clients;

  * To  continue the elaboration of corporate identity and to introduce

    the new name "NORD/LB Latvija".



2.  To  issue  a mandate to Management Board to make adjustments to the

2003 budget with the approval of Supervisory Board.

Changes in Management board; 

Alongside  with  the  present  Management  Board  members  Chairman  of

Management  Board  Jurgen  Machalett,  Deputy  Chairman Andris Ozoliņš,

board  members  Aivars  Flemings  and  Rudolf  Karges, to elect Michael

Kiesewetter a management board member starting with July 1, 2003.

Elections of auditor for 2003; 

1.  To  elect  "PriceWaterhouseCoopers" the Bank auditor for 2003 for a

fee as approved in the budget for 2003.

2.  To  issue  a  mandate to Management Board to sign an agreement with

"PriceWaterhouseCoopers" regarding audit services.

JSC "Pirmā banka" audited financial results for 2002 (in thsd LVL): 

Assets: 142 928

Share capital: 20 161

Equity and reserves: 22 964

Profit: 1 336