2004.08.06, Latvijas Hipotēku un zemes banka, RIG

Herewith  JSC  'Mortgage and Land Bank of Latvia' (hereinafter referred

to as Mortgage Bank) informs that on 23 July 2004 the Board of Mortgage

Bank  passed a decision (Minutes No 47) to decrease the amount of issue

of  AH series mortgage bonds from LVL 2,000,000.- (two million lats) to

LVL  1,150,000.-  (one million, one hundred and fifty thousand lats) on

the  basis  of  its  rights to redeem the part of the issue of mortgage

bonds  that  Mortgage  Bank  had  purchased  on the secondary market of

securities  stipulated  by  Issuing  Prospectus  of  AH Series Mortgage

Bonds.



The amount of the issue will be reduced on 15 August 2004.



The  decision  is  based  on the ruling 'Regarding Authorisation of the

Board  of  Mortgage  Bank'  passed  by  the extraordinary shareholders'

meeting  of  JSC 'Mortgage and Land Bank of Latvia' (Minutes No 1) that

took place on 4 February 2004.