Riga Stock Exhange                                                            20.12.2004



Resolution of JSC “Rīgas Raugs” EGM of December 17, 2004



On agenda item Review of the request of minority shareholders  “Shelby Financial LLC” and 

Normunds Sinkēvičs, submitted on September 24, 2004, regarding raising company claim:

Extraordinary general meeting of shareholders resolve to decline the request of minority 

shareholders  “Shelby Financial LLC” and Normunds Sinkēvičs, submitted on September 24, 2004, 

regarding raising company claim.