JSC   "Rīgas   kuģu   būvētava"   extraordinary   general   meeting  of

shareholders,  called  on  December 28, 2001, did not take place due to

lack  of  quorum  (3/4  of  voting power). The meeting will be convened

repeatedly  on  January  23,  2002,  at  16:00,  at the address 2 Gāles

Street,  Riga, at the premises of JSC "Rīgas kuģu būvētava", 2nd floor,

Conference Hall.

Agenda:

1. Increase of share capital by a closed share issue.

2. Approval of the rules for the new closed share issue.

3. Amendments to the Company Charter.

4. Other business.

Registration  is  open from 15:00 on January 23, 2002. January 11, 2002

is  the  deadline  for  blocking  shares  on securities accounts. Draft

resolutions  are available for inspection to shareholders starting with

January 16, 2002, on business days from 13:00 till 16:00, at JSC "Rīgas

kuģu būvētava" headquarters.