Riga Stock Exchange Management Board resolved on its meeting of October

31,   2003   to  transfer  JSC  "Kaija"  shares  from  Second  list  to

Surveillance  list starting with October 31, 2003. The decision was due

to company failure to meet the deadline for submission of 9 months 2003

financial report.



The  issuer  has  breached  the  requirements  in defence of investors'

interests as stipulated by item 11.2.2.7 of the RSE Enforcement Note on

Securities Lists.



Krista Grīntāle

Corporate Communications Department Director

Riga Stock Exchange

Phone 7212431, 9238183