16.07.2003, Valmieras stikla šķiedra, RIG

 Pursuant  to  the provisions of Article 64 of the law "On Securities",

on  Article 6 of the law "On Group of Companies", and the provisions of

the share purchase Agreement signed with "P-D Glasseiden GmbH Oschatz",

on July 15, 2003 the ownership interest of "P-D-P Fiberglas Consulting"

(registered  at  Company Register of the Republic of Latvia #000328765)

in  "Valmieras  stikla  šķiedra"  has reduced by 24.21%. As of July 15,

2003,  "P-D-P  Fiberglas  Consulting" holds 1 096 360 registered voting

shares  (total  value  LVL  1  096 360) or 4.59% of paid in capital and

4.59% of voting shares in "Valmieras stikla šķiedra".



 "P-D  Glasseiden  GmbH  Oschatz"  increases  ownership interest in JSC

"Valmieras stikla šķiedra"



 Pursuant  to  the provisions of Article 64 of the law "On Securities",

on  Article 6 of the law "On Concerns", and the provisions of the share

purchase  Agreement  signed  with "P-D-P Fiberglas Consulting", on July

15,  2003  the  ownership  interest of "P-D Glasseiden GmbH Oschatz" in

"Valmieras  stikla  šķiedra"  has  increased  by 24.21%. As of July 15,

2003,  "P-D Glasseiden GmbH Oschatz" holds 10 827 892 registered voting

shares  (total  value  LVL 10 827 892) or 45.30% of paid in capital and

43.31% of voting shares in "Valmieras stikla šķiedra".