On November 20, the Riga Stock Exchange will hold a public offering for

cash  of JSC "Latvijas kuģniecība"  (LASCO) 863 688 shares. The minimum

price  of  a  share  is set by the Latvian Privatisation Agency at 0.34

LVL.



Every  investor may participate in the auction if applying for purchase

of  the  stocks  at licensed banks and brokerage companies - members of

Riga Stock Exchange.



Orders  from  members  will be accepted at the Riga Stock Exchange till

November  25,  14:00 (local time). The orders shall be submitted in the

procedure  specified  in  the  Riga  Stock Exchange Enforcement Note on

Trading  and  Quotation,  provisions  for special quotation, as well as

according  to  the  procedure  approved  by Management Board of Latvian

Privatisation Agency "Regulations for cash offerings of public shares".



LASCO shares are listed on the Riga Stock Exchange Official list.



Special rules for the auction:

1. Only bids with a specified price shall be accepted. Minimum price of

a share is set at 0.34 LVL;;

2. Orders are not accepted through i-broker service.

3.  Settlement  date  for the deals at the auction shall be on November

25, 2003.



On processing the received data, the stock exchange shall calculate: 

1.   Market  price  of a share, expressed in lats with the precision of

one santim;

2.  The number of shares allocated to winning bidders.

3.  All  bids where the specified price is above the price fixed at the

auction  are  executed  in  full. All bids where the specified price is

below the price fixed at the auction are not executed.

4.  The  bids where the specified price is equal the price fixed at the

auction  may  be  partly executed according to distribution coefficient

Ka. The coefficient is calculated according to the formula:

Ka=(A-B)/A(%), were:

A  -  the number of securities at the bids where the specified price is

equal to the price fixed at the auction;

B  -  difference  between  A and the residue of securities at the fixed

price.



For more information, please contact:

Krista Grintale

Corporate Communications Director

Riga Stock Exchange

Phone: +371 7212431



Riga  Stock  Exchange  is part of HEX Integrated Markets, a division of

OMHEX,  is  northern  Europe's  largest  securities market. Through its

exchange  operations within Stockholmsbörsen, HEX Helsinki, HEX Tallinn

and

HEX  Riga  (Riga  Stock Exchange), it offers investors access to 80% of

the  Nordic  equity  market  and  75%  of the Baltic equity market. HEX

Integrated Markets also operates CSDs in Finland, Estonia and Latvia.