On November 22, 2002 JSC "Latvijas Gāze" Supervisory Board approved the

amendments  to  the  company  contracts with "Gazprom" and "Itera" with

regard  to  gas supplies to Latvia in 2003-2005, as well as the company

draft  budget for 2003, except for the capital investment programme for

gas main construction. In 2003 "Latvijas Gāze" expects net sales of LVL

102.8  million,  which is by 2% more than this year's target (LVL 100.7

million).  In  terms  of  volume, 2003 sales is planned at 1450 million

cubic  metres  of  natural  gas,  which  exceeds  the 2002 target by 50

million  cubic  metres or 3.6%. Consolidated group profit target is LVL

2.7 million.

The  draft  budget submitted by the Management Board provided for a LVL

22.6   million   investment;   Supervisory  Board  approved  investment

programme at total value of LVL 14.2 million.