2004.02.26, Latvijas Hipotēku un zemes banka, RIG

JSC  "Latvijas  Hipotēku un zemes banka" Management Board, based on the

mandate  issued  by  general  meeting  of shareholders, resolved not to

exercise redemption rights till February 13, 2006 with regard to AI and

AG series mortgage bonds.

The  decision  does  not refer to these AG and AI series mortgage bonds

that were bought by Hipotēku banka at secondary market.