In connection with current market situation and optimization of workers

performance  JSC  "Rigas  Komercbanka" has reduced number of workers by

10-11%  in  main  and  branch  offices.  In  part  this  process  meets

requirements of Twinning-Bank project.

On  the  February 26, 1998 Rigas Komercbanka and Hollands Bank ABN-AMRO

have  signed  agreement to implement Twinning-Bank program. The essence

of  the  program is following: after completing knowledge and practical

skills  of  banks  workers will correspond with international standards

and proceedings. As a result bank will insist on higher demands towards

their workers.

Workers will be compensated.