In  2003 JSC "Lode" net sales increase is 25% over the 2002 figure; the

increase  in physical terms (cubic metres) is 37%. The good performance

is  mainly owing to the increase of ceramic block Keraterm sales in the

domestic  market,  as  well as an increase in export sales. Company has

its main market in Latvia (51%); the sales increase during 2003 was 44%

in  money terms and 47% in physical volume. The rest of the markets are

in  Poland  (27%),  Russia  (12%),  Lithuania (6%), as well as Estonia,

Finland,  the  Ukraine and Byelorussia.  During past year only sales to

Poland  have  shrunk  due  to the saturation of ceramic article market,

therefore,  "Lode"  is  continuing  to consolidate its positions in the

neighbouring markets - Lithuania, Estonia and Russia.



In  2004 JSC "Lode" expects its net sales to increase by 17%, mainly on

the account of sales of ceramic blocks that will continue to be in high

demand:  this  is the current trend in construction sector; the quality

of Keraterm   blocks manufactured by "Lode" is high.