RIGA, April 29, 2009 – Today the annual shareholder meeting of the largest alcoholic beverages producer in the Baltic States AS "Latvijas balzams" took place. It reviewed company's performance during 2008, approved usage of profits and changes in Statutes, as well as re-elected company's Council.

 In view of the fact that in 2008 the turnover of AS "Latvijas balzams" was smaller than in 2007 and reached 103,6 millions LVL, sharholders decided to leave the whole net profit of 5,9 million LVL undistributed in order to strengthen company's financial position during the current global economic crisis.

 AS "Latvijas balzams" Council re-elected

Due to the request by Council member Georgy Kipiany to relieve him of his duties and in accordance with the clause 9 of paragraph 296 of Latvia's Commercial Law, shareholders decided to relieve Alexander Kovalev, Petr Aven, Vitolds Kokars, Valizhan Abidov and Andrey Skurikhin from their duties as Council members starting April 29, 2009.

 Shareholders meeting elected Alexander Kovalev, Petr Aven, Vitolds Kokars, Valizhan Abidov, Andey Skurikhin and Aleksandrs Jernevs as Council members of AS "Latvijas balzams" for a term lasting three years starting April 29, 2009.

 About AS "Latvijas balzams"

AS "Latvijas balzams" was founded in 1900 and today is the largest producer of alcoholic beverages in the Baltic States. Company is one of the most important exporters in Latvia, and annually increases its export volumes. AS "Latvijas balzams" produces over 130 different alcoholic beverages out of which almost 53% are beverages with low alcohol content.

 Company's products are exported to over 30 countries and on export contract for "S.P.I. Group" to over 80 countries worldwide. The major shareholder of AS “Latvijas balzams” is “S.P.I.  Distilleries. B.V.” which owns 89,52% of shares. More information can be found at: www.lb.lv

 Kārlis Andersons,

Chairman of the Board, AS "Latvijas balzams"

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