Resolutions  of  JSC  "Rīgas  Transporta  flote"  general  meeting  of

shareholders of May 11, 2002:

1. To approve the Annual Report of 2001;

2. To discharge the Management Board members from their responsibility;

3.  To  retain  the profit made in 2001, LVL 165,583, undistributed, in

order to offsett the losses of the previous years;

4.  To  elect  Supervisory  Board  for  a  three year term: Joachim von

Reiche, Elias Galanopoulos, Wolfgang Zielke, Petros Tornaros, Emmanouil

Mavrikakis;

5.  To  elect Management Board for a three year term: Peter Rex George,

Oļegs  Kolosovs, George Baranovs, John Giannakakis, Eleftheria Kallini,

Wolfgang Redlin (a candidate);

6.  To  approve  the  budget  for  2002: gross sales LVL 2,490,120, net

profit LVL 73,750; as well as the operations plan.

7. To elect Ēvalds Figurnovs a chartered auditor;

8.  To  amend  the  Company  charter:  "Registered share capital is LVL

23,312,980, which breaks down in 23,312,980 in common voting shares and

11,900 common non-voting shares, reserved for Management Board members.

Nominal  value  of each share is LVL 1. The registered capital is fully

paid in."

9. To issue a mandate to Vice-president O.Kolosovs to sign on behalf of

shareholders  on  all  documents  associated with Annual Report and the

present  meeting.  In  case  of  refusal  of  registration,  he is also

authorised  to  sign a repeated application of a claim, if case may be.

To  issue  a  mandate  to  V.Sedihs  and  to  V.Kočergins to submit and

receive,  on behalf of shareholders, all necessary documents to Company

Register.