2003.07.28, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      NEWS RELEASE                      07/28/2003



RESOLUTIONS OF SHAREHOLDERS' EGM



Shareholders` Extraordinary general meeting of Tallinna Farmaatsiatehase AS 

was held on July 25, 2003 at 16 p.m. at Hotel Radisson SAS 

(Rävala pst 3, Tallinn) in conference centre Lübeck, located on the 2. floor.



Shareholders` Extraordinary general meeting (SEGM) was attended by 

9 shareholders/represenantives, representing 1250000 shares or 82.5237 % 

of the share capital, thus SEGM was eligible to pass resolutions.





The Shareholders` Extraordinary general meeting made resolutions as follows:



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



2. Elect Aiki Veenpere as the Protocoller of the meeting.



3. Elect Indrek Vaheoja as the member of the poll committee.



4. Confirm the meeting standing order.



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

announcement:



1.	Opening of the meeting. Election of the meeting’s Chairperson,

	Protocoller and poll committee.

2.	Approval of the meeting standing order.

3.	Approval of the meeting agenda.

4.	The strategic development of Tallinna Farmaatsiatehase AS in the 

         future.

5.	Amendment to the Concern Agreement between Tallinna 

         Farmaatsiatehase AS and PJSC Grindeks.

6.	Amendment to the License Agreement between Tallinna 

         Farmaatsiatehase AS and PJSC Grindeks, regulation of financial 

         relations.

7.	Recall of Council members.

8.	Election of new Council members.

9.	Reward of Council members.

10.	Other.



6. To approve the amendment of Concern Agreement between Tallinn

Pharmaceutical Company and PJSC  Grindeks according to the version signed on 

July 21, 2003.



7. To approve the amendment of License Agreement between Tallinn 

Pharmaceutical Company and PJSC Grindeks according to the amendment of 

License Agreement no 9, signed at July 21, 2003.



8. To recall a member of the Supervisory Board Jelena Borcova, personal code 

280765-10432, residing in Riga, Latvia.



9. To recall a member of the Supervisory Board Karina Springe, personal code 

110749-10538 residing in Riga, Latvia.



10. To elect Vitalijs Gavrilovs, personal code 210147-11827, residing in 

Riga, Latvia, a new member of the Supervisory Board of Tallinna 

Farmaatsiatehase AS since 25.07.2003.



11. To elect Kirovs Lipmans, personal code 051140-11828, residing in Riga, 

Latvia, a new member of the Supervisory Board of Tallinna Farmaatsiatehase 

AS since 25.07.2003.



12. To approve the reward of Council members according to the budget proposed 

to the Shareholders` Extraordinary general meeting since 25.07.2003





Raivo Unt

CFO

+372 6120201