Riga  Stock  Exchange Management Board on November 22, 2001 resolved on

primary  placement, by the method of open electronic auction, of 10 000

mortgage bonds of AH series with nominal value LVL 100, issued by state

joint  stock  company  "Latvijas  Hipotēku  un  zemes  banka".  Accrued

interest as of the settlement date

2.42  %.  Settlement  date - December 11, 2001. Open electronic auction

will be conducted on December 6, 2001. Bids can be submitted on auction

date from 11.00

to 12.00.

Mortgage  bonds  will  be  listed  on  the  Official list of Riga Stock

Exchange as of December 17, 2001.