JSC 'Latvijas investīciju banka' (LIB) has received acknowledgment from

its  shareholder FINISH FUND FOR INDUSTRIAL COOPERATION LTD (Finnfund),

that it has sold the following shares:

1) 1 898 820 LIB Merita Bank Ltd. shares;

2) 1 059 580 LIB Nordic Investment Bank shares.

Pursuant  to  the  decision of the board of Latvijas Banka, Merita Bank

Ltd. is allowed to get essential participation in LIB, exceeding 33% of

shares  capital, while for Nordic Investment Bank exceeding 20 % of LIB

shares capital.

On July 10,1998 the main shareholders of LIB were:

Finnfund 44.15% LVL 2 339 200;

Merita Bank Ltd. 35.84% LVL 1 898 580;

Nordic Investment Bank 20.00% LVL 1 059 580;

Board 0.006% LVL 300