On  31.08.2001  an  oral  agreement  was  reached  between  the company

Supervisory  Board and Aleksandrs Ivanovs, Chairman of Management Board

and General Director.

The  agreement provides that A.Ivanovs resigns from his position in the

company  starting  with  03.09.2001,  as mutually agreed. The agreement

will be signed on

06.09.2001.