Baltic Trust Bank                                               24.08.2005



Audited semi-annual profit of “Baltic Trust Bank” exceeds 1 million lats



As proves the report of independent auditors, audited profit of “Baltic 

Trust Bank” (BTB) of the first half of the year 2005 has amounted to 

LVL 1.059 million. Auditing of the semi- annual report of BTB has been 

performed by the international auditing firm “Deloitte & Touche”.



In comparison with the end of the previous year total assets of BTB have 

increased for LVL 12.4 million. The greatest increase of assets has taken 

place in credit portfolio increased for LVL 5.6 million. Volume of credits 

granted by BTB to private enterprises has increased for LVL 4.8 million, 

to households - for LVL 2.1 million.



In liabilities in comparison with the end of the previous year there have 

increased liabilities before other credit institutions, including the 

obtained in April syndicated credit organized by Raiffeisen Zentralbank 

Österreich AG. For 1% there has increased volume of deposits, for 143% 

volume of emitted mortgage bonds.



On February 9, 2005 the international rating agency Moody's Investor 

Services has granted to mortgage bonds emitted by BTB rating Ba2. In the 

report of Moody's there is said that "rating of mortgage bonds of BTB is 

based on analysis of legal basis of Latvia. There was paid special 

attention to credit risks, interest risks and risks related to 

independence of cash flows. Rating includes also satisfactory financial 

measures force and strategic challenges waiting business of BTB in future.



On April 4, 2005 BTB has concluded the agreement on obtaining of the 

syndicated credit in volume of EUR 10 million (LVL seven million). The 

term of the credit- 364 days with opportunity of prolongation for next 

364 days. The chief authorized representative-sponsor of the loan is 

Austrian Raiffeisen Zentralbank Österreich AG, chief managers are 

Copenhagen branch of HSH Nordbank and London branch of Hua Nan Commercial 

Bank, participants are Polish PKO Bank Polski SA and Austrian 

Raiffeisenlandesbank Niederösterreich - Wien AG. This is the first 

syndicated credit obtained by BTB. BTB supposes to use the syndicated 

credit for financing of small and medium-sized enterprises.



At the extraordinary meeting of shareholders of the Bank taken place on 

June 28, 2005 BTB shareholders have resolved to increase the fixed capital 

of the Bank for LVL 7 million having emitted 140,000 voting shares. Par 

value of a share- LVL 50, emission margin- LVL 40. Total planned increase 

of the fixed capital will be will 12.6 million and this will supply Bank 

with sources for crediting of local small and medium-sized enterprises. In 

July 2005 the Bank has mailed to shareholders of the Bank proposal letters. 

Increase of the capital proves strategy of the Bank directed to 

strengthening of its activity at local market and supporting of further 

activity of the Bank as a bank widely presented at local market and having 

at the moment 29 branches and 43 payment offices throughout Latvia.



Uldis Zandars

JSC "BALTIC TRUST BANK"

7024784

U.Zandars@btb.lv

<a href='http://www.btb.lv' target='_blank'>http://www.btb.lv</a>