JSC  "Rigas  kugu buvetava" informs that contract regarding sale of JSC

"Latvijas  udenceli" to company "GULF COAST BUSINESS DEVELOPMENT " S.A.

has  been  signed.  In  compliance  with  conditions of contract shares

change  hands  only  after  full  payment which is to be carried out no

later than November 1, 2002. At present shares are in possession of JSC

"Rigas kugu buvetava" since no payment has been made.