The Latvian Central Depository resolved on its Management Board meeting

on December 19,

1997,  that  a/s  "Grindeks"  public  share  issue  of 4,395,600 common

registered  shares with nominal value Ls 1 (security code LV0000100659)

be  entered  into  the books of the LCD. The resolution is based on the

instruction  No.124 of the Securities Market Commission of the Republic

of Latvia with regard to issuance of issue certificate No. 88.