2004.05.17, Rīgas autoelektroaparātu rūpnīca, RIG

With  regard to company registration at the Commercial Register, change

of share nominal value, and the new version of Charter.



Resolved: to register company "Rīgas autoelektroaparātu rūpnīca" at the

Commercial Register, and, associated with this,



-          to  increase  the share capital by LVL 0.60, via debt-equity

swap. To approve the rules for the new closed issue.



-          to  convert  Management  Board shares into registered voting

shares:



-         to set the share nominal value at LVL 1.00, thus reducing the

number  of  shares  held by each individual shareholder; to approve the

conversion rules;



-         to approve the new version of the Charter.