General  meeting  of  JSC  "Liepājas  metalurgs"  of  December  5, 2002

resolved  to  increase  share  capital  by  LVL  3,300,000, via issuing

3,300,00o  regular  voting  closed  issue  shares.  The  share  capital

announced was LVL 17,476,033.



A  part  of  the  new capital, LVL 495,000, remained not subscribed. On

July  5,  2003  AGM of shareholders approved amendments to the Charter,

and  share  capital  of  LVL  16,981,033  was  register  at the Company

Register. The capital is built of 16,981,033 shares.