Latvijas kuģniecība                                              29.06.2005



Decisions of JSC “Latvijas kuģniecība” shareholders AGM on 29. of June



Annual General Meeting of shareholders of JSC “Latvijas kuģniecība” took

place on 29 June 2005. Shareholders meeting approved following decisions:



On the first item of the Agenda - Approval of Annual reports for 2004:

1)	To take notice of the report of the Management Board and the report

of the Supervisory Council of joint stock company “Latvijas kuģniecība”. To

take notice and assess the reports of the auditors of joint stock company

“Latvijas kuģniecība”.

2)	To approve the following Annual Reports for 2004 of joint stock

company “Latvijas kuģniecība”:

a.	Annual Report for 2004 of joint stock company “Latvijas kuģniecība”

prepared in accordance with the Law “On Annual Reports of the Companies”;

b.	Consolidated Annual Report for 2004 of joint stock company “Latvijas

kuģniecība” and its subsidiaries prepared in accordance with the Law “On

Consolidated Annual Reports”;

c.	Consolidated Annual Report for 2004 of joint stock company “Latvijas

kuģniecība” and its subsidiaries prepared in accordance with International

Financial Reporting Standards.



On the second item of the Agenda - Distribution of profit for the year 2004:



To utilise the net profit of JSC “Latvijas kuģniecība” for 2004 in the amount

of 37 796 988 LVL to cover the losses of the previous years



On the third item of the Agenda - Election of sworn auditor for the audit of

Annual reports for the year 2005:



To elect audit company “Ernst & Young Baltic Ltd.” SIA (commercial company

licence No. 17) as auditor of the Annual Reports of JSC “Latvijas kuģniecība”

for the year 2005.



On the fourth item of the Agenda - Determination of the remuneration for the

officers of the Company:



1)	To authorise the Management Board of JSC “Latvijas kuģniecība” to sign

contract with the auditor for audit of the Annual Reports of JSC “Latvijas

kuģniecība” for the year 2005, determining the remuneration within the

approved budget of JSC “Latvijas kuģniecība” for the year 2005. 



2)	To determine that the remuneration of the Supervisory Council of JSC

“Latvijas kuģniecība” is in accordance with the approved budget of JSC

“Latvijas kuģniecība” for the year 2005, authorising the Chairman of the

Supervisory Council to determine distribution of the remuneration between the

members of the Supervisory Council.



I.Vikmanis

Chairman of the Management Board