JSC "Latvijas balzams" general meeting of shareholders on June 29, 2002

resolved on the following:



1.  To  approve  check  on Company Annual Report for 2001, consolidated

Annual  Report  and  commitment  report.  To discharge Management Board

members  Aleksandrs  Ivanovs  (for  the  period  between 01.01.2001 and

31.08.2001),  Valters  Māziņš  (for  the  period between 01.01.2001 and

24.10.2001),  Oļegs  Vorošins  (for  the  period between 14.08.2001 and

31.12.2001),  Rolands  Gulbis  (for  the  period between 03.12.2001 and

31.12.2001),  Aleksandrs Jerņevs (for the period between 03.12.2001 and

31.12.2001.), Juris Gulbis, Indra Ozola from responsibility for Company

operations in 2001.



2.  To  retain  the  net  profit of LVL 1,791,018, made in 2001, in the

company for development.



3. To approve the budget for 2002, considering the following:



- LVL 49,874 thsd on the revenue side;

    - LVL 47,793 thsd on the expenditure side;

    - LVL 2,081 thsd profit.



4.   To   elect   "PriceWaterhouseCooper"  certified  auditor  Kristīne

Potapoviča  (license  #99)  as "Latvijas balzams" certified auditor for

2002.



5.  Management  board  members  shall  not receive any remuneration for

fulfilling  the  obligations  of  Management  Board member. Supervisory

Board members shall receive remuneration of LVL 15,000 in 2002.



Since  annual  general meeting of shareholders on June 29, 2002 did not

have  the  full voting power in one of the agenda items - Amendments to

the Company Charter - due to lack of quorum, and the agenda item Change

in  Supervisory  Board  is  associated  with amendments to the charter,

"Latvijas balzams" repeated annual meeting of shareholders is announced

on  July  29,  2002  at  11:00,  at  160 A.Čaka Street, Riga, "Latvijas

balzams" conference hall.



Agenda:

 1. Amendments to the Company Charter.

 2. Changes in the Supervisory Board.

 3. Other business.



Shareholder  registration  will  take place on the day and venue of the

meeting  -  July  29,  2002,  from  10:00  till 11:00. The deadline for

blocking the shares on securities accounts is July 17, 2002, by the end

of the business day.



Draft resolutions are available to shareholders for inspection starting

with  July  10  on  business  days  from 8:00 till 16:00, at 160 A.Čaka

Street,   Riga,   at  the  receptionist,  or  on  the  meeting  day  at

registration.