RSE  Management  Board  on its meeting of January 31, 2002, resolved to

run two primary placement special auction for JSC "Latvijas Hipotēku un

zemes  banka"   AD  and  AI  series  mortgage  bonds  on February 7 and

February  12, 2002.  On February 7 10,000 AD series mortgage bonds will

be  placed  with total nominal value LVL 1,000,000. The bonds mature on

August  15,  2006,  the  coupon  rate  is 6.5% per year. On February 12

10,000 AI series mortgage bonds will be placed with total nominal value

LVL  1,000,000. The bonds mature on August 15, 2008, the coupon rate is

7%  per year.   Orders may be submitted to the RSE on February 7, 2002,

from 11:00 till 12:00.

The  AD  series  mortgage  bonds,  placed  on  February 7 and AI series

mortgage  bonds  placed  on  February 12 will be listed on the Official

list starting with February 18, 2002.