Today  on  July  19,  2001  JSC  "Grindeks" Annual shareholders general

meeting   took  place.  Shareholders  general  meeting  made  following

resolutions:

1.  Confirmed  2000  Annual  report,  discharged  Management Board from

responsibility  for 2000. Confirmed loses for 2000 in the amount of LVL

276 473. Loses will be covered from next year revenues;

2. Confirmed JSC "Grindeks" consolidated 2000 Annual report;

3. Confirmed JSC "Grindeks" plan of operations and budget for 2001;

4.  Confirmed  budget  for remuneration of Supervisory Board members in

2001 in the amount of LVL 57 500 including social tax;

5.  Confirmed  budget  for remuneration of Management Board for 2001 in

the  amount  of  LVL  59 000; that includes remuneration of Chairman of

Management Board - LVL

33  000  including  social  tax  and  bonus for Management Board in the

amount of LVL

25   700   if  forecasted  financial  results  in  2001  are  achieved.

Remuneration  of  Management  Board  members  are  in  compliance  with

agreements  signed  with  members  of  Management  Board,  confirmed by

Supervisory   Board  and  signed  by  Chairman  of  Supervisory  Board.

Supervisory  Board  if  forecasted  results  are  achieved will confirm

bonuses to members of Management Board.

6.   Confirmed  Irinu  Saksagansku  (  cert.41)  from  auditor  company

Deloitte&Tousche as JSC "Grindeks" certified auditor for 2001;

7. Confirmed Concern agreement with Tallinn Pharmaceutical Plant;

8.  Shareholders  general  meeting released Elita Liela and Adress Tome

from  responsibility  of  members of JSC "Grindeks" Treasury Commission

and  elected  Erika  Pleisa  and  Andrejs  Gvozdevics.  Composition  of

Treasury  Commission  was  confirmed  as  follows:  Andrejs Gvozdevics,

Eduards Cirulis and Erika Pleisa.

9.  Management  Board  was authorised to confirm Information disclosure

Prospectus.

Shareholders  general meeting confirmed JSC "Grindeks" net turnover for

2001 -

LVL  11  729  256  which  by  4.6% exceeds 2000 net turnover. Profit is

forecasted in the amount of LVL 752 197.