On  November  15, 2002, JSC "Tosmares kuģubūvētava" general meeting of

shareholders resolved on the following:

1.  To increase share capital via debt-equity swap - by LVL 600,000, to

LVL 3,203,397;

2. To approve the rules of the closed share issue;

3. To approve the issue prospectus;

4. To approve the amendments to the Company Charter.