18.10.2001, Valmieras stikla šķiedra, RIG

JSC "Valmieras stikla šķiedra" 8th general meeting of shareholders will

take  place  on  November  24 at 10:00, at the hall of Drama Theatre, 4

Lāčplēša Street, Valmiera.

Agenda:

1.  Review of the Management Board report on progress on the activities

plan for the current year;

2.  Increase  of  the Company capital via debt-equity swap; approval of

the issue prospectus and Rules for a closed share issue;

3. Amendments to the Company Charter;

4. Re-election of the Management Board members;

5. Re-election of the Supervisory Board members;

6.  Other  business  Shareholder registration will take place from 9:00

till  10:00  on  the  meeting  day  at the venue. JSC "Valmieras stikla

šķiedra"  shareholders have to block their shares with their custodians

by  November 14, 2001. The documents to be discussed at the meeting are

available  for  inspection  at  the  Company premises, 13 Cempu Street,

Valmiera,  R9,  from  8:00  till  16:00 on business days, starting from

October  24  till  November  24, or on the meeting day at Registration.

Comments  and  recommendations on draft resolutions are to be addressed

to  the  Company  Management Board and delivered in writing by November

23, to the address: 13

Cempu Street, Valmiera.

The  Agenda  items  include an increase of the Company share capital by

approximately LVL 11 million, by swapping a loan extended by Glasseiden

GmbH  Oschatz,  strategic  investor of the Company, with JSC "Valmieras

stikla šķiedra" shares. The loan amount is to be assessed by audit firm

Deloitte&Touch.  The forthcoming issue is expected to be a closed issue

of common registered shares.

The Rules for the issue provide for pre-emptive rights for the existing

minority shareholders.