28.06.2002, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      NEWS RELEASE                      06/28/2002



RESOLUTIONS OF ANNUAL GENERAL MEETING



The annual general meeting of Tallinna Farmaatsiatehase AS shareholders was

held on June 27, 2002, beginning at 2 p.m. at the conference centre of

Radisson SAS Hotel (Rävala St. 3, Tallinn).



The AGM was attended by 5 shareholders representing 687,530 shares or

55,0024% of the share capital, thus the AGM was eligible to pass resolutions.



The AGM made resolutions as follows:



1.Elect Ms. Anu Uritam as the Chairperson of the meeting.

  Elect Ms. Monika Peterson as the Protocoller of the meeting.

  Elect Mr. Kalle Viks as the member of Commission for Counting the Votes.



2.Confirm the Rules of the General Meeting in the wording by Management Board.



3.Confirm the Agenda of the General Meeting according to the published

announcement:

      1.Opening the Meeting. Election of the Chairman of the meeting, the

      Secretary of the meeting and the Commission for Counting the Votes.

      2.Confirmation of the Rules of the General Meeting.

      3.Confirmation of the Agenda of the General Meeting.

      4.Report of the Chairman of the Management Board.

      5.Approval of the annual financial statement of 2001 and the conclusion

      of the auditor.

      6.Approval of the profit distribution proposal for the year 2001.

      7.To recall of the members of the supervisory board.

      8.Election of the members of the supervisory board.

      8.Election of the auditor.

      9.Other.



4.Approve the annual report for 2001 and the conclusion of the auditor.



5.Approve the proposal for allocation of net profit of 2001.



The Management board of Tallinna Farmaatsiatehase AS makes a proposal to

allocate the net profit of the year 2001 in the amount of 10 269 453 EEK to

retained earnings.



6.To recall a member of the Supervisory Board Ivo Beikmanis (identity code

060971-10609) upon his own request.



7.To elect Karina Springe (identity code 110749-10538) a new member of the

Supervisory Board of Tallinna Farmaatsiatehase AS.



8.Elect Mr. Villu Vaino (identity code 37112180215, residing in Tallinn,

Estonia, auditor licence No. 404, representing the audit enterprise

AS Deloitte & Touche Eesti) to audit the financial reports of Tallinna

Farmaatsiatehase AS in 2002.



9.Confirm to pay members of the Supervisory Board Tallinna Farmaatsiatehase

AS reward for good results in the business year 2001 in the sum of 300,000

EEK.





Raivo Unt

CFO

+372 612 0201