NOREX and the Baltic Exchanges put co-operation on hold



NOREX  and  the  exchanges  of  Lithuania and Riga have discussed their

future relations and came to a  joint conclusion that the preconditions

for  a  mutually  beneficial  alliance  are  no longer as convincing as

earlier.

The  parties have therefore decided to formally put the co-operation on

hold,  while the exchanges of Lithuania and Riga explore other possible

co-operation  arrangements.  The relations between the parties continue

to be one of mutual trust and friendship.

"It has proven difficult to reconcile the different needs of the larger

existing  NOREX  exchanges with the smaller emerging Baltic markets. We

wish the exchanges of Lithuania and Riga the best of luck and hope that

they  will  find  suitable  partners able to address their needs", says

Sven Avild Andersen, Chairman of NOREX and CEO of the Oslo Exchanges.

"We  have  learned  a  lot  from  our two-year co-operation with NOREX,

however  the terms of closer association proposed by the alliance would

not benefit the market and our shareholders to the extent that we wish.

The  Management  of the National Stock Exchange of Lithuania will focus

on   other   feasible  strategic  partnerships  that  would  offer  new

opportunities  for  our  issuers, brokers and investors", says Rimantas

Busila, President of the National Stock Exchange of Lithuania.

Guntars  Kokorevics,  President  of  the Riga Stock Exchange says: "The

Riga

Stock  Exchange  has  received  for  its consideration a few attractive

co-operation  offers  from some other alliances and stock exchanges. At

this point, it would be premature to name our future partners. The main

factor  guiding  our  decision  will  be their contribution towards the

enhancement of the Latvian capital market. I believe that investors and

brokers  from  the  countries  of  NOREX  stock  exchange alliance will

continue   to  regard  the  Baltic  capital  market  as  a  challenging

investment opportunity."



For further information please contact:

Sven  Avild Andersen, Chairman of NOREX and President of the Oslo Stock

Exchange, tel +472 234 1700

Guntars  Kokorevics,  President of the Riga Stock Exchange, tel +371 72

12 431

Rimantas Busila, President of the National Stock Exchange of Lithuania,

tel +370 2 72 38 71