JSC  "Rīgas  kuģu būvētava" AGM of shareholders will be held on July

22, 2003, at 12:00, at 2 Gāles Street, Riga.

Agenda:

1. Management Board report on 2002 operational results;

2.  Approval  of Annual Report for 2002, consolidated annual report and

Report on Dependency.

3.  Discharge  of  Management  Board  members  from  liability for 2002

operations;

4. Distribution of 2002 profits;

5. Changes in the Supervisory Board and Management Board;

6. Changes the signature rights of officials;

7. Remuneration to Supervisory Board and Management Board members;

8. Amendments to the Charter;

9. Approval of certified auditor for 2003;

10. Other business.



Shareholders  shall  advise their custodians to block the shares on the

accounts by July 12, 2003 (inclusive).