An extraordinary general meeting of "Grindeks" shareholders was held On

March 15, with the following agenda:

1. Changes in Management Board.

2. Other business.

Under item 1, the following was resolved:

1.   To   approve  Pēteris  Stupāns',  Chairman  of  Management  Board,

resignation.

2. To elect Māris Siliņš a member of Management Board.

3.  Chairman  of  Management  Board  is  to  be  elected by the present

Management Board members from their circle.

Under Item 2, it was resolved that Supervisory Board has to prepare and

approve  the  new  regulations  for  Management  Board,  specifying the

Management   Board   operational   principles,   rights,   obligations,

responsibilities and routines.

Thus,  Management  Board members are: Jeļena Borcova, General Director;

Ērika  Pleiša,  Chief  Financial  Officer;  Māris  Siliņš,  Director of

Grindeks Pharma.

In  2001 Grindeks net sales amounted to LVL 11,979,207, which is a 6.8%

increase over 2000.