18.04.2002, Valmieras stikla šķiedra, RIG

 JSC  "Valmieras  stikla  šķiedra" Management and Supervisory Boards on

their meeting of April 16, 2002 resolved on the following:

1.  To recommend to the general meeting of shareholders to pay dividend

out of 2001 net profit. The recommended dividend size will be announced

after the audited financial statement for 2001 has been signed.

2.  Pursuant  to  the  procedure  stipulated by Latvian legislation, to

appeal  the  Valmiera  court  verdict  with regard to re-elections of a

Supervisory Board member.

JSC   "Valmieras  stikla  šķiedra"  extraordinary  general  meeting  of

shareholders of April 17, 2002 resolved on the following:

1.  To  charge  the  Management  Board  with  the task to prepare draft

amendments to the Company Charter by March 1, 2004, with the purpose to

apply for registration at the Commercial Register;

2.  To  charge the Management Board with the task, by July 1, 2004,  to

prepare  and  submit  for review of the general meeting of shareholders

the  issue of "Valmieras stikla šķiedra" registration at the Commercial

Register;

3.  To  charge the Management Board with the task to report on progress

with  regard  to  drafting  amendments  to  the  Charter on each annual

general meeting of shareholders.