RSE  Management  Board  on its extraordinary meeting of March 16, 2004,

resolved  to  suspend  the trading of JSC "Kaija" shares. The reason is

the  failure of the issuer to disclose information to sufficient extent

as  stipulated  by the provisions of Financial Instrument Listing Rules

and  Financial  Instrument  Market  Law. As a result, the securities no

longer   meet  the  market  safety  and  investor  interest  protection

requirements.



"Kaija"  has  failed  to  provide  the information requested by the RSE

within  the specified deadlines. This may have a material effect on the

market  price  of the shares. The information provided by the issuer is

incomplete  and  does  not  present  a  fair  view  about  the issuer's

financial situation and business.



"Kaija" still has not provided the following information:



-          a  complete  non-audited  annual  report for 2003, including

balance sheet, profit and loss statement, cashflow statement, statement

on changes in equity, and notes;



-          Management  Board  report  on  draft  budget and development

prospects  for  2004;  Management Board opinion about the capability of

the issuer to meet the liabilities; planned business operations;



-          Company  restructuring  plan  and  documents  confirming the

resolutions  taking  with  regard  to restructuring - excerpts from the

minutes  of  general  meeting  of shareholders, of Management Board and

Supervisory Board meetings;



-          Information  about  accounts payable to credit institutions,

suppliers and other creditors.



The  company  also  has  to  provide, by April 30, 2004, audited Annual

Report  for 2003; auditor's opinion on the Management Board report; the

actual capability of the company to fulfil the assignments mentioned in

the report and to attain financial results.



The trading of "Kaija" shares has been transferred to Surveillance list

starting with February 16, 2004.



Krista Grīntāle

Director of Coroprate Communications Department

Phone 7212431