Bank  NORD/LB Latvija and European Investment bank (EIB) have signed an

agreement  on granting credit facility of 10 million euro for long-term

loans to small and middle-size enterprises (SME).

Andris  Ozolins,  President  of  NORD/LB  Latvija  explains: "Small and

middle-size  enterprises  are  one  of  the target groups of clients of

NORD/LB Latvija, and we have started working intensively on development

of  different financial products being especially advantageous for SME.

By  signing  the  new  contract  with European Investment bank, NORD/LB

Latvija  obtains additional financial resources and we are pleased that

the  small  and middle-size enterprises will benefit from it being able

to receive loans with highly competitive provisions."

The cooperation of European Investment bank and NORD/LB Latvija started

in 2002. A credit facility in the amount of 20 million euro has already

been used successfully.

In  January  2004  NORD/LB  Latvija  increased its equity by 14 million

euro,  in the beginning of May the bank obtained syndicated loan in the

amount  of  40  million  euro  but in the middle of May NORD/LB Latvija

issued bonds in Germany in the amount of 30 million euro.

As  of  today,  the bank has 21 branches and 12 sub-branches throughout

Latvia.  the beginning of 2004 the daughter company of the bank NORD/LB

Līzings started operations.