JSC  "Rīgas  Raugs"  AGM  of  shareholders will take place on April 22,

2004,  at  13:00  (registration from 12:00) at the address: 27 Pulkveža

Brieža iela, Riga, the premises of "Rīgas Raugs".



Agenda:

1.     Management Board report on performance in 2003;

2.  Approval of Annual Report and discharge of Management Board members

from liability for 2003 operations;

3. Distribution of 2003 profit;

4. Approval of budget and operational plan for 2004;

5. Decision on entering JSC "Rīgas Raugs" into Commercial Register;

6. Approval of the new  Charter;

7. Supervisory Board elections;

8. Compensation to Supervisory Board;

9. Other business.



Draft  resolutions are available for shareholders' inspection at "Rīgas

Raugs"  office manager, 27 Pulkveža Brieža iela, Rīga, on business days

from  8:30  till  12:00,  starting  with  April  9.April 9, 2004 is the

deadline for blocking shares on the accounts.



Contact phone 7336066.