On  its meeting of January 17, 2002, the Riga Stock Exchange Management

Board  resolved  on  primary  placement  of  additional  JSC  "Latvijas

Hipotēku  un  zemes  banka"   6,000 AG series mortgage bonds. The bonds

will be auctioned at a special auction on January 24, 2002, pursuant to

the "Procedure for price calculation and order execution at competitive

multi-price   auction"  (December  18,  2000).  Specifications  of  the

securities:

- number of securities - 6,000

- total nominal value - 600,000

- accrued interest on settlement date - 3.42%

- settlement date - January 29, 2002



 On January 24, 2002 the orders will be accepted from 10:00 till 12:00.

The  mortgage bonds placed on January 24 will be listed on the Official

list starting with January 29.