Audit firm 'Deloitte&Touche' has finished audit of annual report of A/s

'Rīgas komercbanka'.

Audit  has  performed  in  accordance  with  International Standards of

Auditing.  The  Financial  statements  give a true and fair view of the

financial  position  of  A/s 'Rīgas komercbanka' as of December 31,1997

and  1996  and the results of its operations and its cash flows for the

year 1997 and 1996.

Shareholders  General  Meeting  of  A/s  'Rīgas  komercbanka'  passed a

resolutions:

1 630 LVL to pay in dividends at 3% of share face nominal.

2 To reserve 131 600 LVL for acquisition of twin-bank ABN-AMRO shares.

3 To reserve 105 000 LVL for acquisition of Management Board of bank.

4  The  remaining  profit  1  473  472  LVL to channel to the companies

capital.

5 To approve the main indexes of budget for 1998 accepted by Management

and  Supervisory Boards: incomes of bank operations 15,3 millions lats,

expenses  and provisions 11,1 millions lats, and net profit 4,2 million

lats.

6 To approve prospectus and regulations of 4th closed issue.

7  On  authorize  Management  Board  to  register  4th  closed issue at

Companies Register of Republic of Latvia and to coordinate increases of

companies capital with Bank of Latvia.

8 Not to exercise preemptive rights to 4th closed issue.

9  SGM  dismissed  members  of  Management  Board : Vjačeslavu Derkaču,

Aivaru Krūmiņu, Eleonoru Zeizi, Zigmundu Petkeviču,

10 To approve audit firm 'Coopers & Lybrand' as auditor for 1998.