JSC "Rīgas ostas elevators" AGM of shareholders, held on April 2, 2004,

resolved on the following:

 1. Management Board report

    To be advised on the Management Board report.

 2. Supervisory Board report

    To be advised on the Supervisory Board report.

 3. Approval of Annual Report for 2003

    To  be  advised  on the certified auditor's opinion. To approve the

    annual report with a profit of LVL 114,144.

 4. Distribution of 2003 profit

    To  retain  the  2003  profit in the company in order to offset the

    losses of the previous years. To discharge Management Board members

    Ž.Eihmanis,   V.Korobkovs  and  L.Drava  from  liability  for  2003

    operations.

 5. Approval of budget and operational plan for 2004

    To approve the budget and operational plan for 2004.

 6. Conversion of Management Board reserve shares

    To  convert  5000  Management  Board  reserve shares with no voting

    rights to 5000 registered voting shares.

 7. Decision  to  register  "Rīgas  ostas  elevators" at the Commercial

    Register

    To register JSC "Rīgas ostas elevators" at the Commercial Register.

 8. Approval of the new Charter

    To approve the new version of the Charter.

 9. Supervisory Board elections

    To  elect  Jurijs  Ogņevs, Aleksandrs Čuhno, Sergejs Burliko, Ēriks

    Masteiko, Aldis Pauniņš Supervisory Board members.

10. Approval of chartered auditor

    To  approve  Aivaŗs  Putniņš  (licence  #123)  from  Invest-Rīga  a

    chartered auditor

11. Other business

    To issue a mandate to Žanis Eihmanis, Chairman of Management Board,

    to  settle  all  formalities  regarding company registration at the

    Commercial Register.