Financial  and  Capital  Market  Commission,  on  its  Board meeting of

January   25,  2002,  resolved  on  approving  amendments  to  open-end

investment  fund  "Baltic  Index  fonds"  and "Valsts obligāciju fonds"

issue  prospectuses  and  fund  management  regulations. The amendments

provide  that  henceforth  "Komercbanka Baltikums" will be the official

distributor for the said fund units. Also "Baltikums Asset Management",

the fund management company,  will continue to accept unit buy and sell

orders.

"Baltic  Index fonds" assets are invested in Baltic "blue-chips", while

"Valsts  obligāciju  fonds"   -  in  Government  T-bills  and bonds and

Eurobonds.