CORRECTION: Supplemented with draft decissions on Amendments to the articles of associations. Management Board of JSC “VEF” (registration number: 40003001328, legal address: 214 Brivibas gatve, Riga, LV-1039) calls up and announces that Annual General Meeting of Shareholders of JSC “VEF” will take place on April 18, 2008 at 16.00 p.m. at premises of JSC “VEF”, 4 Unijas iela, Riga, Latvia. Agenda: 1. Reports of Management Board, Supervisory Board and statement of Sworn auditor. 2. Approval of Annual report for the year 2007. 3. Distribution of profit for the year 2007. 4. Election of auditor for the audit of Annual report for the year 2008 and determination of the remuneration for auditor. 5. Increase of the share capital. 6. Amendments to the articles of association. Shareholder registration will be open from 15.00 p.m. till 16.00 p.m. on the day of meeting - 18 April 2008 - at the venue of the meeting. The shareholders have rights to participate in the meeting in person or by their authorized representatives or attorneys: shareholders having a financial instruments account (securities account) with a commercial bank or an investment brokerage company shall present, upon registration, a passport or an other personal identification document and a receipt confirming blocking of shares on the account issued by the financial instruments account (securities account) holder. shareholders having their securities in safe custody at the Initial register or at the Shareholder register shall present, upon registration, a passport or an other personal identification document. authorised representatives and attorneys shall present, upon registration, a passport or an other personal identification document, and shall submit written power of the attorney (form of a written power of attorney is also available on website of the central storage of regulated information - www.oricgs.lv), or authorized representatives shall present a document certifying the authority, and if the shares or represented shareholder are in safe custody at the financial instruments account (securities account), the a receipt issued by a commercial bank of an investment brokerage company certifying blocking of shares on the account. Shareholders of JSC “VEF” shall apply for blocking shares on their accounts not later than by April 08, 2008 (by the end of the business day). Shareholders of JSC “VEF” can get acquainted with Annual report of JSC “VEF”, the Management Board proposal on the profit distribution, other draft decisions as well as additional information and give their suggestions and proposals on the Agenda starting from 04 April, 2008 till 17 April, 2008 at premises of JSC “VEF”, 4 Unijas iela, Riga, Latvia on all business days from 10.00.00 till 16.00 and at Registration on the meeting day. The Management Board of JSC “VEF” DRAFT DECISION of the Annual General Meeting of Shareholders of Joint Stock Company “VEF” to be held on 18 April 2008 on the Item of the Agenda “Amendments to the articles of association”. To define the Clause 3.1. of the articles of association of JSC “VEF” in the following wording: “The share capital of the company is 3'829'908 LVL (three million eight hundred twenty nine thousand nine hundred eight lats). The share capital of the company consists of 623'528 (six hundred twenty three thousand five hundred twenty eight) bearer shares and 3'206'380 (three million two hundred six thousand three hundred eighty) registered shares (hereafter - share). Nominal value of each share is 1 LVL (one lat). Riga, March 13, 2008 On behalf of the Management Board of JSC „VEF”, G.Feņuks Chairman of the Management Board T.Kampāne Member of the Management Board