"Hipotēku  un  zemes banka" AM series mortgage bond auction will be run

at  the Riga  Stock  Exchange  (RSE) on  August  17,  2004 - this was a

resolution passed by the RSE Management Board on August 10, 2004.



30,000  mortgage  bonds  with  nominal value LVL 3 million will be made

available to the bidders. AM series mortgage bonds mature on August 15,

2013, and the coupon rate is 5.25%.



AM  series mortgage bond primary placement will be held pursuant to the

RSE  Rules "On pricing the financial instruments and order execution at

competitive  multiple  price auction with extension" on the RSE trading

system during the trading session of August 17, 2004; primary placement

will take place from 11:00 till 12:00.

Settlement date for the auction will be on August 20, 2004.



Any  investor  may participate at the auction by submitting bids to the

banks and brokerage companies licensed for operations in the securities

market, and that are the RSE trading members.



For more information, please contact:

Krista Grintale

Corporate Communications Director

Riga Stock Exchange

Phone: +371 7212431