On  November  5,  2001,  subscription  to  8,800,086  JSC "Pirmā banka"

shares, issued in the 11th closed issue, was concluded.

By  November 5, 2001, the existing shareholders had subscribed to about

98% of the 11th issue shares with total nominal value LVL 8,617,858.00.

Including  the  share  premium,  the  Bank  equity has increased by LVL

10,772,322.50. Norddeutsche Landesbank, the major shareholder of "Pirmā

Banka", has subscribed to 97.93% of shares of the 11th issue.

Norddeutsche  Landesbank  will  participate also in the second round of

subscription,  as  well  as has expressed its wish to buy up the shares

remaining after the completion of the second round, in case the rest of

the shareholders fail to exercise their pre-emptive rights.