From  1  April  2004,  after  the approval of the Estonian, Latvian and

Lithuanian  stock exchanges, the composition of the Baltic List will be

the following:



+---+------------------------+-------------------+------------------------------+---------------------------------------------------------+

|   |        Company         |Home stock exchange|          Market cap          |Profile                                                  |

|   |                        |                   |(million EUR) as of 15/03/2004|                                                         |

|1. |Eesti Telekom           |        TSE        |           1063.99            |telecommunications                                       |

|2. |Ekranas                 |       NSEL        |            77.83             |manufacture of electronic equipment                      |

|3. |Hansapank               |        TSE        |           1870.89            |banking                                                  |

|4. |Harju Elekter           |        TSE        |            43.20             |manufacture of electric supplies                         |

|5. |Latvijas Gaze           |        RSE        |            328.13            |energy                                                   |

|6. |Latvijas Kugnieciba     |        RSE        |            140.30            |shipping                                                 |

|7. |Lietuvos Telekomas      |       NSEL        |            493.27            |telecommunications                                       |

|8. |Merko Ehitus            |        TSE        |            123.63            |construction                                             |

|9. |Norma                   |        TSE        |            91.87             |seat belt manufacturing                                  |

|10.|Pieno Zvaigzdes         |       NSEL        |            70.42             |dairy products                                           |

|11.|Rokiskio Suris          |       NSEL        |            95.74             |dairy products                                           |

|12.|Snaige                  |       NSEL        |            106.24            |manufacture of refrigerating equipment                   |

|13.|Tallinna Kaubamaja      |        TSE        |            41.41             |retail                                                   |

|14.|Ventspils Nafta         |        RSE        |            249.50            |handling and storage of oil products                     |

|15.|Vilniaus Vingis         |       NSEL        |            22.99             |manufacture of electronic radio and television components|

+---+------------------------+-------------------+------------------------------+---------------------------------------------------------+







As of 15 March 2004, the total market capitalisation of the list of the

Baltic blue-chip securities stood at EUR 4.82 billion (EUR 4.09 billion

as of 15 December 2003).



Further  information  about  the  Baltic List is available on the joint

Internet     homepage     of    the    three    Baltic    bourses    at

<a href='http://www.baltic-exchanges.com' target='_blank'>http://www.baltic-exchanges.com</a>



Additional information: 

Krista     Grintale                                                 Eva

Palu                                      Diana Sokolova

Director      of      Corporate     Communications               Public

Relations Director              Public Relations Manager

Riga   Stock  Exchange                                   Tallinn  Stock

Exchange                 National Stock Exchange of Lithuania

Tel.:  + 371 212431                                     Tel: +372 64 08

849                    Tel: +370 5 272 13 71