2000.10.20, Valmieras stikla šķiedra, RIG

JSC  "Valmieras  stikla  skiedra"  Management  Board  informs, that net

profit for 9

month  of 2000 is LVL 47,4 thousand, which is 10,53% from 2000 forecast

( LVL 450

thousand).

The  main  reason for low profit are changes in proportions between EUR

and LVL.

This resulted in loss of income in the amount of LVL 773 920 and profit

LVL 570

000.  Forecast  and  budget  figures  for  2000  were  based on average

proportion of

0,305 LVL per 1 DEM ( real figures in 2000 were 0,279).

Company  in 9 month of 2000 has exported production to countries of EU,

were  accounts  in 82% cases are settled in DEM and EUR ( In 9 month of

2000 sales reached DEM 27 million 739 thousand).