On  August  30, the Riga Stock Exchange will hold a public offering for

cash  of  JSC Latvijas Gaze shares.  The offering represents 3 % of the

Company's  share  capital  equal  to  1,197,000  shares and reduces the

Government  of  Latvia's holding to 3%. The minimum price of a share is

set by the Latvian Privatisation  Agency at LVL 5.62. The current stock

market price of Latvijas Gaze shares presently ranges from LVL 6.20  to

7.66 at the Riga Stock Exchange.

Latvijas  Gaze  shares  are  quoted on the Riga Stock Exchange official

list.  The  largest Latvijas Gaze  shareholders as of June 8, 2001 were

Ruhrgas  Energie  Beteiligungs AG, E.ON Energie AG, JSC Gazprom,  Itera

Latvija, Ltd. and the Government of Latvia.

Every  investor may participate in the auction if applying for purchase

of  the stocks at licensed banks  and brokerage companies by August 30,

in accordance with the regulations of a bank or a brokerage company.

This  auction  of  Latvijas  Gaze  shares  will  be  based  on the same

algorithm as the previous ones. The  regulations of the auction and the

company  research prepared by the Riga Stock Exchange and the brokerage

company  Suprema are available on the Riga Stock Exchange Internet home

page <a href='http://www.rfb.lv.' target='_blank'>http://www.rfb.lv.</a>

Three  previous  public  offerings  for  cash  of the JSC Latvijas Gaze

shares  were  held  at  the  Riga Stock  Exchange on March 27, 2000, on

December  18,  2000, and on July 19, 2001. In those respective auctions

26.85% (LVL 2.63 per share), 2% (LVL 4.72 per share), and 2% (LVL 12.51

per share) were sold.

Marketing and Information Department

Riga Stock Exchange

Tel. 7 212 431