Unaudited  results  of NORD/LB Latvija for the year 2003 prove that the

bank has continued its rapid and dynamic growth.

In  2003 the amount of the bank's assets has increased by 52% up to LVL

217.5 million. The amount of deposits attracted has grown by 46% during

the  period  under  review.  The  clients  of  the  bank-  both private

individuals  and legal entities- have particularly appreciated the loan

offers  of NORD/LB Latvija, so the market share of the bank in terms of

loan portfolio in 2003 has grown by more than 1% (1.1%- from 4,2% up to

5,3%).  The  loan  portfolio  of  NORD/LB  Latvija  in  the  period has

increased  by  78% up to 157 million LVL. Net profit of NORD/LB Latvija

for 2003 amounted to more than LVL 1.5 million.

The  President  of NORD/LB Latvija Andris Ozoliņš is delighted with the

results  achieved:  "Financial  results  of  the bank for the year 2003

obviously  prove  that  the bank which was renamed NORD/LB Latvija last

spring, has become a full-blooded member of the international financial

group,  proving  convincingly its high competitiveness on the financial

market  of  Latvia.  As  before,  also  last year the growth of NORD/LB

Latvija  was  significantly  faster  than that of the banking sector in

average. We will continue the dynamic growth in 2004 both improving the

financial  products  and  reinforcing  our  positions  in  new business

directions."

In  2004  NORD/LB  Latvija plans to increase its role in leasing market

significantly  as  well  as  to  participate  in  funding  of small and

medium-size  enterprises. Taking chance of the unique experience of the

mother  bank  acquired  in  the  field  of  co-operation with EU funds,

NORD/LB  Latvija  offers to the customers advisory services with regard

to   access   to   the   resources   of   structural  funds,  providing

recommendations  in  project  execution,  planning  of  cash  flows and

development of business plans as well as with regard to other issues.

NORD/LB  Latvija  has  19  branches and 16 sub-branches in Riga and the

biggest  towns  of  Latvia,  and  it has expected to develop its branch

network in 2004 significantly.



Teika Lapsa

Phone.7015395, 9161561

teika.lapsa@nordlb.lv