Thursday, on December 19, JSC "Grindeks" repeated extraordinary general

meeting  of  shareholders  took  place.  67.16%  of  share  capital was

represented at the meeting, which is sufficient for reviewing all items

on the agenda:

1. Share capital increase.

2. Amendments to the company Charter.

3. Other business.

Agenda  item  regarding  amendments to the Charter was discussed first.

Resolutions:

1.  Part  one  of  Item  4.44  of  the Charter shall have the following

wording:  "General meeting of shareholders shall elect Management Board

of 4 members."

2.  Part  three  of  Item  4.49 shall be supplemented with the wording:

"Chairman  of  Management  Board shall have a full mandate to represent

Company  in  any   legal  and judicial activities, and, pursuant to the

acts  regulating  Company  operations,  may sign, on behalf of Company,

proxies, agreements, contracts and any other documents".

3.  Item 4.58 shall have the following wording: "Chairman of Management

Board  shall  be  responsible  for  day-to-day operations. According to

Latvian  legislation,  Company  Charter and other legal acts regulating

the Company operations, he/she may act on behalf of the Company without

any specific proxy".

For  the  purpose of handling Company day-to-day operations, Management

Board  may elect from its members or from outside one or more Directors

and  specify their rights and obligations, remuneration and other terms

and  conditions  - as it deems necessary - to be included in Director's

employment   contracts.   Chairman   of  Management  Board  shall  sign

employment contracts with Directors."

Agenda item Other business was reviewed next. Resolutions:

1. To elect Vitālijs Skrīvelis a Management Board member.

Vitālijs   Skrīvelis   is   Director  of  business  structure  Grindeks

PharmaChemi.

2.  To  authorise  Supervisory  Board  to  approve a new budget for the

Management  Board  with  the view of the new number of Management Board

members.

Shareholders  resolved  to  put  the  meeting on hold till December 24,

2002,  11:00,  in  order to discuss agenda item 1 regarding increase of

share capital.