JSC  "Olainfarm"  informs  that on the February 23,1999 Council of Riga

district  has decided to decrease outstanding debt for the property tax

LVL 460 689 for the years of 1993 and 1994 by 90% because of effects of

financial  crises in Russian and CIS countries and attempt to stabilise

JSC  "Olainfarm"  economical  situation  and  endeavor  to recover as a

result  of  crises  lost jobs. The rest of the debt has to be repaid by

May 30,2000.

City  council  of  Olaine on the March 17,1999 has granted property tax

easement  in  the  amount  of  90%  to the JSC "Olainfarm" for the time

period from January 1,1993

to  December  31,1998.  Total  amount of easement LVL 1 053 453,20. The

rest  of the outstanding debt LVL 105 345,32 has to be paid by December

30,2001