In  the first nine months of 2003 JSC "Latvijas balzams" sales amounted

to LVL 33.166 million, while non-audited profit was LVL 648 thousand.



Restructuring  within  "S.P.I. grupa" accounts for the changes in sales

figures:   "Onetango   Ltd"   became  a  100%  owner  of  SIA  "Bravo",

consequently,  the  sales of the  latter (LVL 3.260 million in 2002) is

no longer a part of "Latvijas balzams" consolidated accounts.



The sales and profit was also affected by the situation in the domestic

market  (restrictions  on  alcohol  selling during night) as well as by

investment   projects  that  have  changed  the  production  strategies

(commensurate  to  sales volumes, thus, reducing the stocks of finished

goods).  Since  the  business is subject to seasonality, it is expected

that  in the last quarter of the year both the output and sales volumes

will increase.