NORD/LB Latvija                                               30.03.2005. 



AS “NORD/LB Latvija” on closing of ordinary shareholders meeting 



Ordinary shareholders’ meeting of NORD/LB Latvija JSC was closed at 4 p.m. 

on 23 March 2005. All issues included in the agenda were reviewed and the 

following decisions were passed:



Review and approval of the annual report for year 2004 of NORD/LB Latvija JSC 



Approve the Annual Report together with Dependency Statement for year 2004 of 

NORD/LB Latvija JSC submitted by the Management Board and reviewed by the 

Supervisory Council.



Release of the members of the Management Board of NORD/LB Latvija JSC from 

responsibility for year 2004



Release the members of the Management Board of NORD/LB Latvija JSC Andris 

Ozolins, Aivars Flemings, Rudolf Franz Karges and Michael Kiesewetter from 

responsibility for year 2004.



Distribution of the profit of NORD/LB Latvija JSC for year 2004



Distribute the profit of NORD/LB Latvija JSC for year 2004 in total amount of 

LVL 3,372,276.87 (Three million three hundred seventy two thousand two hundred 

seventy six Lats and 87 santimes) as following:

1. Pay out the dividends in amount of LVL 0.035 per one share, which constitute 

   the total amount of LVL 1,293,631.50 (One million two hundred ninety three 

   thousand six hundred thirty one Lats and 50 santimes) stating 18 April 2005 

   as the Accounting Date and 25 April 2005 as the Payment Date of the mentioned 

   dividends.

2. To capitalise part of the profit amounting to LVL 2,078,645.37 (Two million 

   seventy eight thousand six hundred forty five Lats and 37 santimes), not paid 

   in the dividends.



Amendments to the Articles of Association of NORD/LB Latvija JSC

1. To make the following amendments to the Articles of Association of NORD/LB 

   Latvija JSC:

1.1. Express Article 5.1 of Articles of Association of NORD/LB Latvija as follows:

   “5.1. The Supervisory Council shall consist of seven Council members.”

2. Authorise the Management Board of NORD/LB Latvija JSC to take each and every 

   action to register above mentioned amendments to Articles of Association of 

   NORD/LB Latvija JSC with Commercial Register in conformity of Commercial Law.



Stating remuneration for members of Supervisory Council of NORD/LB Latvija JSC



State the following remuneration for Supervisory Council for years 2005-2008:

1. fixed amount of EUR 750.00 (Seven hundred fifty euro) per each meeting of 

   Supervisory Council for each Supervisory Council member not being an employee 

   of NORD/LB Group;

2. the annual bonus in amount of EUR 4000.00 (Four thousand euro) for each member 

   of Supervisory Council if the year’s average return of equity calculated on 

   monthly bases exceeds 10%. Return of equity shall be calculated by attributing 

   net profit to total shareholder’s equity for the respective month. 



Election of Supervisory Council of NORD/LB Latvija JSC

1. Elect Supervisory Council of NORD/LB Latvija JSC in following composition: 

     Dr. Gunter Dunkel;

     Dr. Jürgen Allerkamp;

     Mr. Sven Herlyn;

     Dr. Gert Vogt;

     Mr. Peter-Jürgen Schmidt;

     Ms. Baiba Rubesa;

     Mr. Juris Binde.

2. Assign the Management Board of NORD/LB Latvija JSC to take all necessary actions 

   to register composition of the Supervisory Council with Commercial Register.



Election of the chartered auditor of NORD/LB Latvija JSC for year 2005

1. Elect “PricewaterhouseCoopers” (Registration No. 000314279) as the chartered 

   auditor of NORD/LB Latvija JSC for year 2005, stating the remuneration in accordance 

   with the budget of NORD/LB Latvija JSC for year 2005, approved by Supervisory Council 

   of NORD/LB Latvija. 

2. Authorise the Management Board of NORD/LB Latvija JSC to conclude the contract on 

   auditing with “PricewaterhouseCoopers”. 



NORD/LB Latvija JSC 

CEO, Chairman of the Management Board					

A. Ozoliņš



Vice President, 

Member of the Management Board				

M. Kiesewetter