LHZB DISCOUNT NOTE PUBLIC OFFER RESULTS


Riga Stock Exchange held an auction on June 13, where the Mortgage Bank offered
for sale 100,000 P01AO and 150,000 P01CB series discount notes of respectively
10 million lats and 15 million euros par value. Discount notes were issued
under the initial placement offering program of the State-owned Joint Stock
Company “Mortgage and Land Bank of Latvia”. 

All P01AO series discount notes and 90,470 P01CB series discount notes were
sold on the non-competitive auction at a fixed price. 

Issue currency of P01AO series discount notes is Latvian lats. Its yield on the
auction was 6.75%. The demand at the auction amounted to 13.2 million lats. 

Issue currency of P01CB series discount notes is Euro. Its yield on the auction
was 4.8%. The demand at the auction amounted to 9,047 million Euros. 

Mortgage Bank has submitted an application for listing P01AO and P01CB series
discount notes in Bond List of Riga Stock Exchange.