Riga  Stock  Exchange will consider whether to restore the trading with

JSC  "Kaija"  shares  only  after  receiving  the  court verdict on the

company  insolvency.  In  case  "Kaija"  will be ruled insolvent by the

court,  the  RSE  Management  Board may, pursuant to Item 11.1.2 of its

Listing  Rules, resolve on delisting shares due to the insolvency of an

issuer.



On  April  5,  2004  "Kaija"  advised  the  RSE  regarding  filing  for

insolvency.  The  trading  with "Kaija" shares has been suspended since

March  16  due  to repeated violations of disclosure rules on behalf of

the  company.  Since the company still remains listed, disclosure rules

remain binding. The information "Kaija" still owes the RSE:

  * a  complete  non-audited  Annual  Report  for  2003 (balance sheet,

    profit/loss  statement,  change in equity statement and notes) - up

    to  now,  the  RSE  has  only  the  balance  sheet  and profit/loss

    statement

  * management  board  report  on  draft budget and company development

    prospects  for 2004; management outlook as to company capability to

    meet the liabilities; planned operations;

  * company  restructuring  plan and documents supporting restructuring

    decisions,  such  as  excerpts  from  the minutes  of shareholders'

    meetings, of Management Board and Supervisory Board meetings;

  * list  and  amounts  payable  to  credit institutions, suppliers and

    other creditors.



Also,  by April 30, 2004, the company has to provide to the RSE audited

Annual  Report  for  2003;  auditor's  opinion  on the above management

report and on the capability of the company to fulfil the tasks defined

in the report, and to demonstrate the expected financial performance.