On  January  23,  2002, JSC "Rīgas kuģu būvētava" extraordinary general

meeting  of shareholders took place, passing the following resolutions:

1.  To increase share capital via issuing shares LVL 1,500,000 worth in

a closed share issue.

2. To approve the Rules for the closed issue.

3. To approve the amendments to the Company Charter.

4.  To  set  the  monthly  salary  for Management and Supervisory Board

members as a minimum monthly salary multiplied by 25.