Riga   Stock   Exchange   Management   Board   on   October   25,  2001

resolved  on  primary   placement,  by  the  method  of open electronic

auction,  of  10 000 mortgage bonds of AH series with nominal value LVL

100,   issued  by state joint stock company "Latvijas Hipotēku un zemes

banka".  Accrued  interest  as  of  the  settlement  date  1.71 %. Open

electronic  auction  will be conducted on November 2, 2001. Bids can be

submitted on auction date from

11.00 to 12.00.

Mortgage  bonds  will  be  listed  on  the  Official list of Riga Stock

Exchange as of November 5, 2001.