JSC  "Rīgas  kuģu  būvētava"  shareholders  AGM  on  July 15, 2002 made

following resolutions:

 1. To   confirm   JSC   "Rīgas  kuģu  būvētava"  2001  Annual  report,

    consolidated   2001   Annual  report,  JSC  "Rīgas  kuģu  būvētava"

    Dependence report;

 2. To discharge Management Board members from responsibility for 2001

 3. To divert company profit for 2001 for companies development;

 4. To elect Supervisory Board as follows:

    Supervisory Board member - Jānis Davidovičs, p.c.: 060363-10607

    Supervisory Board member - Anatolijs Ustinovs, p.c.: 010146-10964

    Supervisory Board member - Larisa Artemenko, p.c.: 030349-12926

    Supervisory Board member - Ēriks Kaža, p.c.: 280263-11507

    Supervisory Board member - Vladislavs Lo�karevs, p.c.: 171027-10507

 5. To elect Management Board as follows:

    Management  Board  member with signatory rights - Vasilijs Meļņiks,

    p.k.: 310867-10726

    Management  Board  member with signatory rights - Sergejs Golicins,

    p.k.: 250154-10952

    Management  Board  member  with  signatory rights - Igors Komarovs,

    p.k.: 040756-10902

 6. To sign agreement with auditor company "ASTORP" ( certified auditor

    Helēna  Sausiņa  certificate No 20 and Natālija Sausiņa certificate

    No 138) on auditing services;

 7. To confirm remuneration for Supervisory Board members in the amount

    of 25 minimal monthly salaries;

 8. To  confirm remuneration for Management Board members in the amount

    of  25  minimal  monthly  salaries  and  2.5% from net profit after

    taxes.  Distribution  of  this  net profit is decided by Management

    Board;

 9. To  confirm  application  of  3%  from  company's  net turnover for

    Supervisory  and  Management  Board organisational costs, including

    additional  remuneration for Management Board and Supervisory Board

    members and employees.