Resolutions  of  the  Riga  Stock Exchange Management Board meeting of

June 21, 2002:

1.1.  JSC "Latvijas Kuģniecība" 199 990 000 ordinary shares with voting

rights  and nominal value LVL 1, in compliance with Enforcement Note on

Securities  List  point  3.1.1., will be listed on the Official List of

Riga Stock Exchange as of June 26, 2002;

1.2.  from  July1,2002  shares  of  JSC  "Latvijas  Kuģniecība" will be

included in Riga Stock Exchange indexes RICI and Dow Jones;



2.  JSC  "Latvijas  Hipotēku  un zemes banka" AD series 10,000 mortgage

mortgage  bond  primary  placement  will  be  conducted on the RSE on a

special  auction  on July 4, 2002. The auction will be run according to

the  procedure specified in "Instruction for price fixing and execution

of  orders  and  competitive multiple price auction with an extension",

approved on April 17, 2002. The total face value of the 10,000 mortgage

bonds  is LVL 1,000,000, accrued interest on the auction date is 2.6 %,

and settlement date is July 9, 2002.

Bids  for  the  auction  may be submitted on July 4, 2002 from 11:00 to

12:00. The extension is from 12:00.

The  AD  series  mortgage bonds will be listed on the RSE Official list

starting with July 10, 2002.