On  December  4,  2003  primary  placement auction of "NORD/LB Latvija"

bonds will be run on the Riga Stock Exchange.



5000  bearer  bonds  at total value of LVL 5 million will be placed via

the  auction.  Nominal value of "NORD/LB" bond is LVL 1000; maturity is

on December 4, 2006; coupon rate is 6-month RIGIBOR + 0.40%. The coupon

rate  for the first semi-annual period (from December 4, 2003 till June

4, 2004) will be specified on December 1, 2003.



"NORD/LB  Latvija"  bonds  will  be  placed via competitive multi-price

auction with extension. Any investor may participate, by submitting the

bid  to  licensed  banks and brokerage companies. Bids will be accepted

from  the  RSE  members  on December 4, 2003 from 10:00 till 12:00. The

extenstion will be after 12:00.



Settlement  for  the  bonds purchased at the auction will take place on

December 9, 2003.



Daiga   Auziņa-Melalksne,   Director   of   Development   and  Services

Department, Riga Stock Exchange :

"NORD/LB  Latvija"  public  bonds  issue is one more proof that Latvian

debt  market  has  good  development  prospects.  We hope that not only

financial  sector  issuers,  but  other  businesses,  too, will be more

active in issuing corporate bonds instead of borrowing from banks, thus

raising relatively inexpensive resources for development.



"NORD/LB  Latvija"  shares are listed on the Riga Stock Exchange Second

list, and are included in RICI and

Dow Jones Riga Stock Exchange indexes.



A summary for JSC "NORD/LB Latvija"  bonds issue 



+---------------------------------+----------------------------------------------------------------------------------+

|Issuer                           |JSC "NORD/LB Latvija"                                                             |

|Type of issue                    |public                                                                            |

|Type of bonds                    |bearer                                                                            |

|Number of bonds                  |5,000 (five thousand)                                                             |

|Issue value (by nominal value)   |LVL 5,000,000.00 (five million lats)                                              |

|Nominal value                    |LVL 1,000.00 (one thousand lats)                                                  |

|Coupon rate                      |6 month RIGIBOR (Riga Interbank Borrowing Rate) plus 0.40 %                       |

|Coupon payment                   |On semi-annual basis                                                              |

|Coupon payment dates             |04.06.2004., 04.12.2004., 04.06.2005.,                                            |

|                                 |04.12.2005., 04.06.2006. and 04.12.2006.                                          |

|Start date for coupon calculation|December 4, 2003                                                                  |

|End date for primary placement   |June 4, 2004                                                                      |

|Maturity date                    |December 4, 2006                                                                  |

|Right to call prior to maturity  |Non-callable                                                                      |

|Primary placement                |Primary placement of the bonds will be done via open multi-price auction with     |

|                                 |extension, run on December 4, 2003 in compliance with the RSE Management Board    |

|                                 |instruction of April 14, 2002 "On calculation of market price of a security       |

|                                 |and order execution on competitive multiple price auctions with extension".       |

|                                 |The bonds remaining unsold after the auction will be placed by Treasury Department|

|                                 |of JSC "NORD/LB Latvija" Rīga, Smilšu iela 6, phone 7077157 or 7015230 on       |

|                                 |all business days, starting with the second day of primary placement.             |

|Selling price                    |Selling price is quoted on each business day pursuant to the rules specified      |

|                                 |in the prospectus.                                                                |

|Settlement                       |Payment for bonds purchased in primary placement is settled two business days     |

|                                 |after the deal.                                                                   |

+---------------------------------+----------------------------------------------------------------------------------+







More information: 

Krista Grīntāle

Director of Corporate Communications Department

Riga Stock Exchange

Phone: 7212431

<a href='http://www.rse.lv' target='_blank'>http://www.rse.lv</a> 



Uldis Bušs

Head of Treasury

NORD/LB Latvija

Phone: 7077157, 7015230

<a href='http://www.nordlb.lv' target='_blank'>http://www.nordlb.lv</a>