19.05.2005, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      NEWS RELEASE                      05/19/2005

	

RESOLUTIONS OF SHAREHOLDERS GENERAL MEETING



The Shareholders´ General Meeting of Tallinna Farmaatsiatehase AS was

held on May 19, 2005, beginning at 14 p.m. (registration starts at 13.30)

in Reval Hotel Central (Narva mnt 7c, Tallinn) conference centre in studio 1

located on the second floor.



The Shareholders´ General Meeting (SGM) was attended by

5 shareholders/representatives, Representing 1 187 726 shares or 95,02%

of the share capital, thus the Shareholders General Meeting was eligible

to pass resolutions.



The Shareholders General Meeting made resolutions as follows:



1. Elect Ms. Anu Uritam as the Chairperson of the meeting.



2. Elect Ms. Maris Raju as the Protocoller of the meeting.



3. Elect Mr. Indrek Vaheoja as the member of Commission for Counting

the Votes.



4. Confirm the Rules of the General Meeting.



5. Confirm the Agenda of the General Meeting according to the published

announcement:



      1. Opening the Meeting. Election of the Chairman of the meeting, the

         Protocoller of the meeting and the Commission for Counting the Votes.

      2. Confirmation of the Rules of the General Meeting.

      3. Confirmation of the Agenda of the General Meeting.

      4. Report of the Director.

      5. Approval of the annual financial statement of 2004 and the conclusion

         of the auditor.

      6. Approval of the profit distribution proposal for the year 2004.

      7. Election of the auditor.

      8. Other.



6. To approve the annual report for 2004 and the conclusion of the auditor.



7. To approve the proposal for distribution of net profit of 2004 as follows:

the director of Tallinna Farmaatsiatehas AS is making a proposal to allocate

the net profit of the year 2004 in the amount of  3 106 521 EEK to retained

earnings.



8. To elect  Toomas Prükk (personal code 3760705622), residing in Tallinn,

Estonia, auditor license No. 509, representing the audit enterprise AS

Deloitte & Touche Eesti to audit the financial reports of Tallinna

Farmaatsiatehase AS.



9. To approve the bonus fund in gross-sum of 850 000 EEK to the Tallinna 

Farmaatsiatehase AS Council for the financial results of year, the sharing 

will be decided by chairman of the council.



10. To approve the wages fund in gross-sum of 280 000 EEK in each month, the 

sharing will be decided by chairman of the council.







Raivo Unt

Director of Finance

+372 6120201