JSC  "Liepājas  metalurgs"  informs  that Annual General Meeting of the

shareholders  took  place  on  July  10,  2004,  and  resolved  on  the

following:



1. To approve Annual Report for 2003 and consolidated Annual Report.

2.  To  discharge  Management  Board  members  from  liability for 2003

operations.

3. To transfer the profit made in 2003, LVL 2,517,458 to development of

production.

4. To approve the following key budget items for 2004:

         Revenue side: LVL 102,709,326

         Expenditure side: LVL 101,789,150

         Profit: LVL 920,176

5. To approve the new version of Company Charter.

6. To appoint audit firm "BDO Invest Rīga" the Company auditors.