The  board  of  JSC  "Gutta" has announced an extraordinary shareholder

meeting to take place on 4 December 1998.The meeting will take place at

14:00  at  the  Gutta  main  office.  Every  shareholder,  who wants to

participate in the meeting, has to block his shares by 16 November.

The  main subject on the agenda is a proposed share capital increase of

Gutta  through  a  share issue targeted at potential strategic parties.

Specifically,  the  management  of  Gutta wants to give shareholders an

opportunity  to  decide on a new issue of up to 25% plus 1 share of the

share  capital  of the company as the first step in a strategic partner

search.

The  raised  funds  will  be  primarily  channeled  into investments in

Latvia, but also Russia and the Ukraine.