On  the April 12,1999 Securities Market Commission has given permission

to  the  private  entrepreneur  Imants  Kalnins to acquire JSC "AVE LAT

GRUPA"  3  085  623  JSC  "Kaija"  shares  (63,75% from share capital).

Contract has been drafted and concluded except for the formalities that

will be taken care of after JSC "Kaija" shareholders general meeting.

JSC "Kaija" audited results for the 1998 presents that net turnover, as

a result of Russian financial crises, has decreased from LVL 14 611 450

in  the  1997  to  LVL  12 490 003 in the 1998. Therefore loses for the

1998,  associated with changes in the market situation and prices, have

reached  LVL  1  201  998.  For  all that company does not have any tax

arrears and during past year has paid LVL 1

761  879  in taxes. In the same way all the means were used to preserve

retainment  of  jobs, look for new markets and to continue work without

interruptions.