Riga  Stock Exchange (RSE) Management Board resolved on listing "Nordic

Investment  Bank" bonds on the RSE Official list starting with July 25,

2003.   Total  value  of the issue is LVL 5 million, and maturity is on

July  25,  2007.  Nominal value of one bond is LVL 1000; coupon rate is

4.25%.  Coupon  is paid on semi-annual basis: on January 25 and on July

25.  The  issue  was  registered  on  the  LCD on July 15; ISIN code is

LV0000800175.



Primary  placement will be on July 17-22, 2003 and the issuing agent in

Latvia is "Nordea Bank Finland Plc. Latvia branch".



This  is  the  second  "Nordic Investment Bank" corporate bond issue in

Latvia and listed on the RSE.



Guntars  Kokorevics,  President,  RSE  :  "The new bond issue of Nordic

Investment  Bank  is  one  more  evidence that raising money in Latvian

capital  market  via  corporate  bonds  issue  is  cost  effective  and

convenient  for  a  company. The return of NIB to Latvia and to the RSE

demonstrates  the  investors'  confidence in Latvian securities market.

This  market  segment  has  good  development  prospects.  We hope that

Latvian companies will not linger with issuing corporate bonds.".



"Listing of Nordic Investment Bank bonds is a result of the RSE efforts

in  bringing  new  high  quality issuers to the RSE. Simultaneously, it

promotes  the  development  of  Latvian  capital  market  and opens new

possibilities  for issuers, including State Funded Pension System (Tier

II)  asset  managers",  remarked  Daiga  Auzina - Melalksne, Riga Stock

Exchange Management Board member, Director of Development and Sales .



Krista Grintale

Rigas Stock Exchange

Corporate Communications Department Director

Phone + 371 7212431

e-mail: krista@rfb.lv