2004.09.08, Tallinna Farmaatsiatehas, TLN

Tallinna Farmaatsiatehas      NEWS RELEASE                      09/08/2004



RESOLUTIONS OF EGM OF SHAREHOLDERS



The extraordinary general meeting of shareholders of Tallinna

Farmaatsiatehase AS was held on 8 September 2004 at 14.00 in Lübeck hall on

the second floor of Radisson SAS hotel.



The meeting was attended by 11 shareholders and representatives of

shareholders, representing 93,72% of all shares and, therefore, the meeting

had a quorum.



The general meeting adopted the following resolutions.

1.	Elect Monica Pihlak as the chairman of the meeting.

2.	Elect Maris Raju as the minutes-secretary of the meeting.

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

4.	Approve the rules and regulations of the extraordinary general

meeting as presented to the meeting.

5.	Approve the agenda as indicated in the announcement on calling the

extraordinary general meeting.

6.	Not to approve taking over of the shares belonging to minority

shareholder by the majority shareholder.



Before deciding on taking over of the shares belonging to minority

shareholders, the representative of the majority shareholder, Liga Jagere,

made a report to the meeting, wherein the conditions of taking over the

shares belonging to minority shareholders and the bases for determining the

amount of compensation payable for the shares was explained.



93,46% of the votes represented by shares voted in favor of taking over the

shares belonging to minority shareholders. Since the Commercial Code provides

that the respective resolution shall be adopted if at least 95% of the votes

represented by shares are in favor, the resolution was not adopted





Raivo Unt

CFO

+3726120201