Riga  Stock Exchange Management Board on September 27, 2001 resolved on

primary  placement,  by the method of open electronic auction, of 7 000

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

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

interest as of the settlement date

1.06  %.  Open electronic auction will be conducted on October 2, 2001.

Bids can be submitted on auction date from 10.00 to 12.00.

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

Exchange as of October 8, 2001.