On January 28, 2000 JSC "Gutta" shareholders general meeting decided:

1. To dismiss Chairman of Management Board and Board members.

2.  To  elect  Management  Board as follows: Chairman - Robert Elensky,

members -

Olga Petersone and Uldis Ronis.

3. To dismiss Supervisory Board.

4. To elect Supervisory Board as follows:

Sniedze  Līce  -  nominated  from" BonInvest LLC" Mārtiņš Lindermanis -

nominated  from  "  Neo  Way LLC" Edgars Puriņš - nominated from"Sefico

Holding  BV"  Johan Hjalmar Bergman - nominated from"Sefico Holding BV"

Jason Grenfell-Gardner- nominated from"Baltic Republic Fund"

5.  Shareholders  general  meeting  decided to increase companies share

capital  by  LVL  1 670 075. Appropriate changes in JSC "Gutta" Charter

were  made  to  implement  effective  control  system of operations and

management in compliance with International standards.

6.  To  release  Management  Board  members  from  responsibility after

confirmation of Financial statement for 1999.

7.  To forward budget and operational plans of 2000 for confirmation of

Supervisory Board.