Today,  on  27  February,  the second repeatedly convened extraordinary

general  meeting  of  PJSC Grindeks shareholders (opened on 10 February

2004) was continued. Agenda of the meeting included the issue regarding

increase of the stock capital of PJSC Grindeks .

Valdis  Jakobsons,  Chairman  of the Board of PJSC Grindeks reported on

the  above-mentioned  issue.  He informed the present shareholders that

the  Latvian  Privatisation  Agency  still  has  not  taken  a decision

necessary  to  increase the stock capital of PJSC Grindeks by replacing

the  liabilities of the company, i.e., a loan of the International Bank

of  Reconstruction  and  Development  repayable to the budged, with its

shares.

Consequently,  the  shareholders  decided to postpone the meeting until

the board of PJSC Grindeks announces in the official newspaper Latvijas

Vēstnesis   (Latvia's   Herald)  a  date,  when  the  meeting  will  be

continued.



Information prepared by:

Jana Semerikova,

Head of the Public Relations Section of PJSC Grindeks

Tel.: 7083448; 9277837;

e-mail: jana_semerikova@grindeks.lv