Riga Stock Exchange                                                                23.12.2004



Resolutions of JSC “Baloži” AGM of December 21, 2004



1.	To approve Management Board and Supervisory Board report on 2004 operational results.

2.	To approve Annual Report for 2004. To retain the profit of LVL 17,409 undistributed 

and to transfer it to the company reserves.

3.	To approve audit firm “KPMG Latvia” the company auditors for the new reporting year 

from 01.10.2004 till 30.09.2005.

4.	To approve operational plan and budget for 2005:

1. Net sales, LVL							-   183359.00

2. Other operational revenues, LVL		                         -   47607.00

3. Revenues total, 1+2                                                   -  230966.00

4. Expenditures, total:                                                -    230685.00

5. Profit                                                              -       281.00

5.	To reduce the share capital by LVL 1,425.

Presently the company share capital is LVL 284,900 built of 284,900 shares, of which 1,425 are 

non-public. The share capital is being reduced to eliminate non-public shares: converting a 

small amount of non-public shares into public shares in not cost-efficient. The 1,425 shares 

are cancelled, and share capital is reduced by LVL 1,425. After reduction the share capital 

shall be LVL 283,475.00 built of  283,475 shares.

6.	To amend the company Charter regarding (Item 3.1:  share capital is LVL 283,475.00 

built of  283,475 shares with nominal value LVL 1).

7.	No other business was discussed, consequently, no resolutions on this agenda item.