Rakvere Lihakombinaat         NEWS RELEASE                      05/27/2004



ANNUAL GENERAL MEETING RESOLUTIONS



MINUTES: RESOLUTION OF THE ORDINARY GENERAL MEETING OF THE SHAREHOLDERS 

OF AS RAKVERE LIHAKOMBINAAT





Location of AS Rakvere Lihakombinaat



Roodevälja village, Sõmeru parish, Lääne-Viru County 44305; registered in 

the Register Department of the Lääne-Viru County Court under the registry 

code 10156832.



Time and location of the meeting



The meeting was held on 27 May 2004, in the AS Rakvere Lihakombinaat hall 

at  Roodevälja village, Sõmeru parish, Lääne-Viru County 44305.

The meeting was opened at 9:00 am, and adjourned at 9:40.



2 (two) shareholders were represented, holding a total of 36,116,592 votes 

- i.e. 95.74% of the share capital (361,165,920 kroons).



The meeting had a quorum;



Agenda of the meeting



1. Approval of the Annual Report 2003 of AS Rakvere Lihakombinaat, and 

profit allocation;

2. Appointment of an auditor and establishment of the corresponding 



procedures for remuneration.



RESOLUTIONS



1.	Approve the Annual Report 2003, and allocate the profit for the 

financial year in the amount of 39,835,000 kroons as follows:

a) transfer 1,992,000 kroons to mandatory reserve in accordance with 

Sec. 336 (3) of the Commercial Code;

b) transfer 37,843,000 kroons to retained earnings

    

99.99% of the participating shareholders voted in favour, and 0.01% of 

the shareholders voted against the resolution. No shareholders remained 

undecided. Thus, the resolution was passed.  



2. Appoint AS PricewaterhouseCoopers the auditor of AS Rakvere 

Lihakombinaat for 2004. Remuneration shall be based on the agreement 

to be concluded by the parties.



100% of the participating shareholders voted in favour. No votes were cast 

against the resolution and no shareholders remained undecided. Thus, the 

resolution was passed unanimously. 



The voting was carried out on the basis of voting cards. Votes were counted 

by electronic means provided by Tallinna Väärtpaberibörsi AS. 



This protocol has been prepared in two (2) copies, one of which will be 

retained by AS Rakvere Lihakombinaat. The other copy will be submitted 

to the Commercial Register.



The list of shareholders participating at the ordinary General Meeting 

of the Shareholders of AS Rakvere Lihakombinaat on one (1) page has been 

attached to these minutes.





Olle Horm

Chairman of the Board

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