Resolutions of AGM of Shareholders of JSC „Latvijas balzams” held on April 28, 2007

The Annual General Meeting of shareholders of joint stock company “Latvijas
balzams” was held on April 28, 2007. The meeting resolved following
resolutions: 


1.On the first item of the Agenda “The Reports of Board, Counsil and the
statement of the sworn auditor”: 

To take notice of the reports of the Board, the reports of the Council and the
statements of the sworn auditor of joint stock company “Latvijas balzams”. 

2.On the second item of the Agenda „Approval of Annual reports for the year
2006”: 

To approve the following Annual Reports for the year 2006 prepared by the Board
of JSC “Latvijas balzams” and revised by the Council of JSC “Latvijas balzams”: 
1)Annual Report for the year 2006 of JSC “Latvijas balzams” prepared in
accordance with the legislative acts of the Republic of Latvia; 
2)Annual Report for the year 2006 of JSC “Latvijas balzams” prepared in
accordance with International Financial Reporting Standards (IFRS); 
3)Dependence Report for the year 2006 of JSC “Latvijas balzams”; 
4)and to reclassify to undistributed profit due to changes of the requirements
of the legislative acts the obligatory reserves of the equity capital item
“Other reserves” which were made as a distribution of annual profit up the year
2004 in the amount of 5% from annual profit; 
5)to reclassify to undistributed profit due to changes of the requirements of
the International Financial Reporting Standards the equity capital item “Merger
reserve” which was made in the year 2000 by merger of JSC “Latvijas balzams”
and AS “Rīgas Vīni”. 

3.On the third item of the Agenda “Distribution of profit for the year 2006”:

1)To approve the net profit of JSC „Latvijas balzams” for the year 2006 in the
amount of 2 578 819  LVL. 
2)To distribute the profit for the year 2006 in the amount of 2 578 819 LVL as
follows: 
a.to pay in dividends LVL 179 926 or LVL 0,024 per each share, determining May
16, 2007 as the record date of dividends' calculation and May 23, 2007 as the
date of dividends' payment; 
b.to leave undistributed 2 398 893  LVL and use it for the development of JSC
“Latvijas balzams” to increase the competitiveness of JSC “Latvijas balzams”. 

4.On the fourth item of the Agenda “Election of the auditor for the audit of
Annual Reports for the year 2007 and determination of the remuneration for the
auditor”: 

The item of the Agenda was not reviewed.

5.On the fifth item of the Agenda “Election of the Counсil”:

1)Considering the application of the member of the Council Juris Gulbis about
leaving position of the member of the Council and according to the Clause 296
Part Nine of the Commercial Law, release from their positions members of the
Council of JSC “Latvijas balzams”  Alexander Kovalev, Petr Aven, Vitolds
Kokars, Alexey Oliynik and Andrey Skurikhin as from April 28, 2007. 
2)To elect in the positions of the members of the Council of JSC „Latvijas
balzams” for three years, determing the beginning of the duties of the Council
as of the April 28, 2007: 
1.Alexander Kovalev; 
2.Petr Aven ;
3.Vitolds Kokars;
4.Brian Andrew Dublin;
5.Alexey Oliynik;
6.Andrey Skurikhin. 


On behalf of the Board of JSC „Latvijas balzams”,

Chairman of the Board
R. Gulbis