Bank  NORD/LB Latvija has issued euro bonds in the amount of 30 million

euro. The denomination of the bond is EUR 1,000 and the bond bear fixed

rate  of 3% p.a. The bond issue is registered in Niedersächsische Börse

Hannover  ,  and  the bonds are included in the list of organised stock

market.  The bonds will be placed on German retail market. Norddeutsche

Landesbank  Girozentrale  is acting as Lead- Manager of the bond issue.

NORD/LB  Latvija  has  become  one  of the first banks in Latvia having

issued bonds in foreign market.

Andris  Ozolins,  president  of NORD/LB Latvija: "The issue of bonds of

NORD/LB  Latvija  in  German  market  is  a  good proof to the trust of

inhabitants  of  Germany  in  the safety of investments in bank NORD/LB

Latvija.  In  the beginning of May the bank received syndicated loan in

the amount of 40 million euro. These financial resources and 30 million

euro  attracted  in  the  result  of  the  bond  issue  will be used in

crediting  the development of Latvian enterprises and needs of physical

persons, and we are pleased that the beneficiaries will be the existing

and potential clients of NORD/LB Latvija".

As  of  today,  the bank has 21 branches and 12 sub-branches throughout

Latvia,  and  during  this  year it expects to substantively extend its

branch  network.  In  the beginning of 2004 the daughter company of the

bank NORD/LB Līzings started operations.