From  2 January 2002, the composition of the Baltic List will change as

Estonian,  Latvian  and  Lithuanian stock exchanges approved changes to

the  Baltic  List.  Pieno  Zvaigzdes,  admitted  to  the list of Baltic

blue-chip securities, will replace Kalnapilis, removed due to a reduced

freefloat  in  the  market. Balta was removed from the Baltic blue-chip

securities list due to delisting from the Riga Stock Exchange.



As  of  14 December 2001, the total market capitalisation of the Baltic

List  stood  at  EUR  2.49  billion (EUR 2.1 billion as of 15 September

2001)

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

|   |     Company      |Home stock exchange|Market cap (million EUR) as of 14.12.2001|               Profile                |

|1. |Eesti Telekom     |        TSE        |                 599.26                  |telecommunications                    |

|2. |Ekranas           |       NSEL        |                  50.60                  |manufacture of electronic equipment   |

|3. |Hansapank         |        TSE        |                 797.06                  |banking                               |

|4. |Latvijas Gaze     |        RSE        |                 465.29                  |energy                                |

|5. |Lietuvos Telekomas|       NSEL        |                 265.44                  |telecommunications                    |

|6. |Merko Ehitus      |        TSE        |                  22.96                  |construction                          |

|7. |Norma             |        TSE        |                  43.45                  |seat belt manufacturing               |

|8. |Pieno Zvaigzdes   |       NSEL        |                  21.06                  |dairy products                        |

|9. |Rokiskio Suris    |       NSEL        |                  39.26                  |dairy products                        |

|10.|Snaige            |       NSEL        |                  15.41                  |manufacture of refrigerating equipment|

|11.|Tallinna Kaubamaja|        TSE        |                  25.81                  |retail sales                          |

|12.|Utenos Trikotazas |       NSEL        |                  25.25                  |knitwear                              |

|13.|Ventspils Nafta   |        RSE        |                 121.84                  |handling and storage of oil products  |

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







Further  information  about  the  Baltic List is available on the joint

Internet     homepage     of    the    three    Baltic    bourses    at

<a href='http://www.baltic-exchanges.com' target='_blank'>http://www.baltic-exchanges.com</a>



Additional information:



Eva Palu

Head of Marketing and Public Relations Dept.

Tallinn Stock Exchange,

Tel: +372 64 08 840, e-mail: eva.palu@tse.ee 



Diana Sokolova

Public Relations Manager

National Stock Exchange of Lithuania

Tel: +370 2 721 37,  e-mail: diana@nse.lt 



Krista Grintale

Director of Marketing and Information Department

Riga Stock Exchange

Tel: +371 72 12 431, krista.grintale@rfb.lv