Share Quantities In BALTIX For Q4 2004

The BALTIX index is a capitalization-weighted chain-linked total return index that is to be launched on September 27, 2004. The index is calculated daily using the most recent official closing prices of all shares listed on the Main Lists of the Riga, Tallinn and Vilnius stock exchanges. The index constituents are subject to quarterly weight limits of 10% of the compound market capitalization and the weight-limits are applied during quarterly rebalancing by reducing the indexed share quantities.

According to BALTIX calculation methodology the indexed share quantities are determined on a quarterly basis on March 15, June 15, September 15 and December 15 and applied respectively on April 1, July 1, October 1 and January 1 each year.

Share quantities used for calculating BALTIX in Q4 2004 are as follows:

Code	Company name	Exchange	Actual quantity 15.09.2004	Actual weight 15.09.2004	Quantity in BALTIX for Q4 2004	Weight  in BALTIX for Q4 2004
HPA1T	Hansapank	Tallinn	317 368 436	43.34%	27 461 303	10.00%
ETLAT	Eesti Telekom	Tallinn	137 954 528	18.54%	27 899 728	10.00%
LTEL	Lietuvos Telekomas	Vilnius	814 912 760	8.52%	358 772 281	10.00%
GZE1R	Latvijas Gāze	Riga	39 900 000	6.88%	21 764 247	10.00%
VNF1R	Ventspils nafta	Riga	104 479 519	3.97%	98 776 196	10.00%
SNAI	Snaigė	Vi lnius	23 070 405	2.50%	23 070 405	6.67%
MKO1T	Merko Ehitus	Tallinn	8 850 000	2.44%	8 850 000	6.50%
LSC1R	Latvijas kuģniecība	Riga	200 000 000	2.39%	200 000 000	6.39%
ROKS	Rokiškio sūris	Vilnius	4 746 270	1.84%	4 746 270	4.90%
NRM1T	Norma	Tallinn	13 200 000	1.58%	13 200 000	4.22%
PZVG	Pieno žvaigždės	Vilnius	54 030 451	1.47%	54 030 4 51	3.91%
EKRA	Ekranas	Vilnius	34 898 088	1.42%	34 898 088	3.79%
SAF1R	SAF Tehnika	Riga	990 060	1.34%	990 060	3.59%
UTRI	Utenos trikotažas	Vilnius	19 834 442	1.01%	19 834 442	2.69%
TKM1T	Tallinna Kaubamaja	Tallinn	6 788 200	0.86%	6 788 200	2.30%
HAE1T	Harju Elekter	Tallinn	5 400 000	0.74%	5 400 000	1.97%
VBK	Vilniaus baldai	Vilnius	3 886 267	0.56%	3 886 267	1.49%
VING	Vilniaus Vingis	Vilnius	9 123 105	0.43%	9 123 105	1.14%
BLT1T	Baltika	Tallinn	5 587 450	0.17%	5 587 450	0.46%

The next review of the indexed share quantities will take place on December 15, 2004.