Resolution of the Stockholders' General Meeting of the Joint-Stock Company LIEPĀJAS METALURGS

1.At the General Meeting shareholders of the JSC “Liepājas metalurgs” approved
the Company Council Report on the operational performance in the year of 2006. 

2.At the General Meeting shareholders of the JSC “Liepājas metalurgs” approved
the Annual Report of the year 2006: 
- Net turnover		LVL 192 246 290 (EUR 273 541 827)
- Profit after tax	         LVL 9 467 276 (EUR 13 470 720)

3.At the General Meeting shareholders of the JSC “Liepājas metalurgs” released
the Council and Board members from bearing any responsibility for the
operations 2006. 

4.At the General Meeting shareholders of the JSC “Liepājas metalurgs” decided
to transfer the 2006 profit of LVL 9 467 276 (EUR 13 470 720) to the needs of
production development due to the reconstruction of the JSC “Liepājas
metalurgs”. 

5.At the General Meeting shareholders of the JSC “Liepājas metalurgs” approved
the budget forecast for the year 2007: 
- Net turnover		LVL 179,9 Mio. (EUR 255,97)
- Profit after tax	LVL 1,09 Mio. (EUR 1,55)


Joint-Stock Company “Liepājas metalurgs”
Chairman of the Board
/V.Terentjevs/
Liepāja, Latvia
April 28, 2007