JSC "Grindeks" net turnover in 2000 reached LVL 11 212 533, which is by

14%  more  compare to previous year ( in 1999 net turnover grew by 9%).

After productions, administration and sale costs company profit was LVL

143,5  thousand  which  is  by  LVL  497  thousand more than last year.

Unfortunately  fluctuation  of  exchange  rate  and  some extraordinary

charges  have  affected  company performance and JSC "Grindeks" in 2000

has  suffered loss of LVL 276 473. Expected net turnover growth rate by

24% more than last year was not achieved.

In  total  company  operations  in  2000 can be recognised as positive.

Several restructuring and strategic goals have been reached.

During  2000  JSC  "Grindeks"  has  made substantial changes in company

structure  that  will  continue  to  promote  company development. As a

result   of   implementation  of  company  strategy  new  framework  of

organisation has been formed from 3 parts:

unit  of active pharmaceutical substances Grindeks PharmaChemi, unit of

sales  Grindeks Pharma and unit of production of ready form drugs. Each

unit has their own strategic goals.

"It  can  already  be seen that company strategy that begun in 2000 has

been  right", commented Chairman of Management board Peteris Stupans. "

Net  profit  in  first 5 month of 2000 reached LVL 194 000 that will be

bases for better results in 2001 compare to audited results of 2000".

Additional   information   Ingrīda   Smite,  Head  of  Public  Relation

Department Teleph.9293127