Approved by the Board of the
JSC “Latvijas Gāze” on 6 June 2007
(Minutes No.21 (2007))

DRAFT RESOLUTIONS of
Annual General Meeting of Shareholders of
the Joint Stock Company “Latvijas Gāze”
to be held on 6 July 2007

1. Reports of the Board, the Council and the sworn auditor.

To take notice of the report of the Board, the report of the Council and the statement of the sworn auditor of the Joint Stock Company “Latvijas Gāze”.

2. Approval of Annual reports for the year 2006.

To approve the following Annual Reports of the Joint Stock Company “Latvijas Gāze” prepared by the Board and revised by the Council:

1) ”Joint Stock Company “Latvijas Gāze” Annual Accounts for the year 2006” prepared in compliance with the Companies Annual Reports Law of the Republic of Latvia (on 34 pages attached);

2) “Joint Stock Company “Latvijas Gāze” Annual Accounts for the year 2006” prepared in compliance with International Financial Reporting Standards (on 39 pages attached).

3. Distribution of profit for the year 2006.

1) To approve the net profit for the year 2006 of the Joint Stock Company “Latvijas Gāze” LVL 21 007 255, including the share of the profit not available for distribution LVL 1 175 456.

2) To utilise the profit for the year 2006 available for distribution LVL 19 831 799 as follows:
a. to pay in dividends LVL 11 970 000 or LVL 0.30 per one share, determining 12 December 2007 as the record date of calculation of dividends and 21 December as the date of payment of dividends;
b. to transfer LVL 7 861 799 to reserves provided by the Articles of Association of the Joint Stock Company “Latvijas Gāze”

4. Election of the auditor for audit of the Annual reports for the year 2007 and determination of remuneration for the auditor.

To elect the sworn auditor company “PricewaterhouseCoopers” SIA (commercial company licence No.5) as the auditor of the Annual Reports, the report, the accountancy and the financially commercial activities of the Joint Stock Company “Latvijas Gāze” for the year 2007, determining remuneration according to the tender submitted in the closed price inquiry.

5. Determination of remuneration for the members of the Council

To pay a single additional payment for the performance in the year 2006 to the chairman of the Council of the Joint Stock Company “Latvijas Gāze” amounting 4 (four) monthly remunerations, to the Vice-chairmen of the Council amounting 3 (three) monthly remunerations and to the members of the Council amounting 2 (two) monthly remunerations in proportion to their duration in the Council of the Joint Stock Company “Latvijas Gāze” in 2006.


Riga, 13 June 2007


Joint Stock Company “Latvijas Gāze”
Member of the Board

A. Ulpe