Today  shareholders'  extraordinary general meeting elected Mr. Guntars

Kokorevics,  Chief  Financial  Officer,  as  the  Riga  Stock  Exchange

President and Chairman of the Supervisory Board.

Guntars  Kokorevics:  "I  am  satisfied  and  appreciate  it  that  the

shareholders  supported  my  candidature.  The  Stock  Exchange and its

shareholders share the same objective, which is a developed and dynamic

securities  market.  I  believe  we shall work hand in hand towards our

common goal.

For  the  next  year,  it  is  critical  that  we  focus our efforts on

attracting new issuers - companies

with  good  publicity and outstanding financial performance - to public

securities market. We are also planning to enhance the knowledge of the

existing issuers how to better protect the rights of their investors."

Guntars  Kokorevics  has  been  with  the Riga Stock Exchange since its

foundation  day  on  December  7,  1993.  He  started  his career as an

accountant,  later  was promoted as Chief Financial Officer and elected

as  a  Member  of the Management Board. Mr. Kokorevics has a University

degree  in  economics  and business management. Kokorevics has been the

project  manager  for public cash offering of Latvijas Gaze state-owned

shares, which took place on March 27, 2000, raising over USD 45 million

to  the  state. This has been the largest auction in the history of the

Riga Stock Exchange and Latvia.

Kokorevics was born on July 11, 1973 and is the youngest stock exchange

president  in the world - up now, Gert Tiivas, President of the Tallinn

Stock Exchange, was the owner of the "title".

Shareholders'  general  meeting accepted the resignation from Mr. Uldis

Cerps, the forme Chairman of the Supervisory Board. He was appointed by

the  Parliament  as  Chairman  of the new Financial and Capital Markets

Commision  on October 26, 2000. Meanwhile, pursuant to the RSE Charter,

Aivars  Slokenbergs,  Vice  President,  was  responsible  for the stock

exchange management.

Approval  of  the budget for 2000 was another item of the shareholders'

general  meeting.  More  information on the company performance in 2000

and  the  plans  for 2001 will be released by Guntars Kokorevics during

the press conference on December 22, 2000.

Riga Stock Exchange Public Relations Department

Phone 371 7212431