22.07.2004, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      NEWS RELEASE                      07/22/2004



EXTRAORDINARY GENERAL MEETING



Tallinna Farmaatsiatehase AS



EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS



The Management Board of Tallinna Farmaatsiatehase AS (registry code 10093221,

seat Tondi 33, Tallinn) proposes to assemble the Extraordinary General

Meeting of Shareholders on 8 September 2004 at 14.00 (registration starts at

13.30) in Lübeck hall on the second floor of Radisson SAS hotel (Rävala pst

3, Tallinn).



Agenda:

1.	opening of the meeting, election of the Chairman, minutes-secretary

and poll committee;

2.	approval of the rules and regulations of the meeting;

3.	approval of the agenda of the meeting;

4.	report of the representative of the majority shareholder;

5.	deciding on the takeover of shares belonging to minority

shareholders by the majority shareholder;

6.	other issues.



The majority shareholder of Tallinna Farmaatsiatehase AS is PJSC Grindeks

(registry code 0003034935, seat Krustpils 53, Riga, Republic of Latvia). The

majority shareholder has submitted an application to the Management Board of

Tallinna Farmaatsiatehase AS for calling the General Meeting of Shareholders

to decide on the takeover of shares belonging to minority shareholders. The

amount of compensation to be paid to minority shareholders is EEK 27,10 per

each share.



From 6 August 2004 (10.00-16.00 on working days), it is possible for the

shareholders to get acquainted with the following documents at the location

of Tallinna Farmaatsiatehase AS (Tondi 33, Tallinn):

1.	the draft resolution of the General Meeting to decide on the

takeover of shares belonging to minority shareholders;

2.	the three preceding annual reports and activity reports of Tallinna

Farmaatsiatehase AS;

3.	the takeover report;

4.	the auditor's report.



In case of questions concerning the General Meeting, please contact us by

phone 6 120 201. We ask shareholders to bring: natural person’s passport and

a power of attorney in case of a representative; passport, B-card and

documents proving the authority in case of a representative of legal person.





Ibraim Muhtsi

Director

+3726120201