RAKVERE LIHAKOMBINAAT

ANNOUNCEMENT



RESOLUTIONS OF SHAREHOLDERS' ANNUAL GENERAL MEETING



4 shareholders attended the 04.05.2000 annual general meeting of 

shareholders, who own altogether 37,721,700 shares (91.4880% of share 

capital).



The AGM made the following resolutions:



1. to approve 1999 annual report; to allocate the 1999 profit (EEK 

24,265,336) as follows:

   EEK 23,052,069  -   to transfer to retained earnings account

   EEK 1,213,267   -   to transfer to the reserve fund, as stipulated 

                       in the Commercial Code.  



For: 99.94% of AGM attending shareholders

Neutral: 0.060% of AGM attending shareholders



2. to appoint Urmas Kaarlep and Ago Vilu of PriceWaterhouseCoopers to 

audit the financial reports of AS Rakvere Lihakombinaat in financial 

year 2000. The auditors will be remunerated in accordance with the 

respective agreement.



For: 99.94% of AGM attending shareholders

Neutral: 0.060% of AGM attending shareholders





3. to amend the Articles of Association of AS Rakvere Lihakombinaat 

in order to conform it with the valid Commercial Code:



3.1 to amend article 6.2 of part VI (GENERAL MEETING) of Articles of 

Association as follows:

    6.2. Notice of the general meeting shall be given at least three 

    weeks in advance. Notice will be sent to address provided in the 

    shareholders' register. In case the Company has more than 100 

    shareholders, the notice shall also be published in a nationally 

    circulated newspaper. Notices will not be sent to shareholders by 

    mail if published in a nationally circulated newspaper.



3.2 to amend sub-article (h) of article 6.4 (COMPETENCE OF GENERAL 

MEETING) as follows:

    (h) to claim against a member of Supervisory Board or Management 

    Board or a shareholder, also to decide on transactions with a 

    Supervisory Board member, to determine the transaction details, and 

    to determine the Company's representative for such claim or 

    transaction;



3.3 to amend article 6.6 and the first sentence in article 6.5 of 

part VI (GENERAL MEETING) of Articles of Association as follows:

    6.5. General meeting can adopt resolutions if more than half of 

    votes represented by shares are present in the meeting. ………..

    6.6. A resolution of the general meeting is adopted if more than 

    one-half of the votes represented at the general meeting are given in 

    favor of it, unless the law provides for a greater majority.



For: 99.94% of AGM attending shareholders

Neutral: 0.060% of AGM attending shareholders





Andrit Heidov

Information Manager

+372 32 29 211