Riga   Stock  Exchange  Management  Board  on  May 9,  2000 resolved on

the following:

1.  Primary   placement,   by   the   method   of   auction,  of 13 000

mortgage  bonds  of  AE   series,   issued by state joint stock company

"Latvijas Hipotēku un zemes banka",  will be conducted on May 11, 2000.

Technical  code  LV0000800068,  settlement  date May 16,  2000. Accrued

interest as of the settlement date 2.02%.

2. Primary  placement,  by  the  method  of  auction,  of 6000 mortgage

bonds  of AF     series,  issued by state joint stock company "Latvijas

Hipotēku  un  zemes  banka",       will  be  conducted on May 18, 2000.

Technical code LV0000800076, settlement     date May 23,  2000. Accrued

interest as of the settlement date 2.31%.

    Face value LVL  100.