Notification of a material event

The JSC “Mortgage and Land Bank of Latvia” (hereinafter - Mortgage bank) hereby
informs that the shareholder's meeting of the Mortgage bank, held on March 20,
2007, made the following decisions (shareholder's meeting minutes No. 1): 

1.to issue transferable short-term debt securities, by means of an offer
program or separate issues, with maturity under one year, amounting to 100
million LVL or a respective amount in EUR currency at the Bank of Latvia rate,
during one year as of the date of making the decision at the shareholder's
meeting. 

2.mandate the Board of the Mortgage bank to make the following decisions
pertaining to preparation for and conduct of the aforementioned issues: 

1.approval and signing of prospectuses of the securities issued within the
respective issues or the offer program, and amendments to them; 

2.public offering and inclusion in the regulated market of the securities
issued within the respective issues or the offer program; 

3.arrangement of the initial placement of the securities issued within the
respective issues or the offer program; 

4.redemption procedure of the securities issued within the respective issues or
the offer program; 

5.determination of coupon rate, initial offer price and other features of the
securities issued within the respective issues or the offer program. 



Chairman of the Board 
I.Feiferis


Henkels, phone: 7774050