BALTIC INVESTMENT GROUP BANK AS       Stock Exchange Notice             23.11.2005



BIG issues 37 million kroon bond



AS Baltic Investment Group Bank will  emit  floating  rate  bonds  of  37  million

kroons with a maturity of three years and a date  of  redemption  of  24  November

2008. The sale price of the bonds is 10 000 kroons. The coupon limit of the  bonds

is 3-month EURIBOR + 1.00%.



In accordance with §12.2.4 of the  Securities  Market  Act  there  was  no  public

tendering procedure.



The tender  took place on  the basis of an  AS Baltic Investment Group Bank  board

decision of 21 November 2005.



The minimum  volume  of  subscription  bonds  was  at  least  650,000  kroons  per

investor. Subscription applications for this emission were received in  the  total

amount of 52 million kroons. The final volume of the emission,  oversubscribed  by

investors, was 37 million kroons.



The rate of return of the bond was set at 3-month EURIBOR  +  1.00%  p.a.  on  the

basis of lowest bids. The issuer's payment obligations arising form the bonds  are

the issuer's unsecured debt instruments, which are pari passu equal to all of  the

issuer's other unsecured debt instruments.



Organiser of the emission was AS SEB Eesti Ühispank.

The funds involved in the emission will be used for granting loans.





Eero Varkki

Chief Financial Officer

Further information: eero.varkki@big.ee