Notes:

CONSOLIDATED ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2012

ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2012

Information prepared by:

Salvis Lapins

Member of the Board

AS „OlainFarm”

Tel: +371 6 7013 717

Webinar Presentation 4th quarter and 2012

AS “OlainFarm” announces that as early as April 17 it has resumed production of monoacetilglucose and on April 18 it has resumed production of nitrofuranes on another production line. Now the factory has completely returned to normal operations and has started the renovation of damaged unit.

The company continues to closely follow the development of health conditions of its employees injured in the accident, and wishes them a speedy recovery.

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

AS “OlainFarm” announces that this morning at 9:20, an explosion caused by toluene vapour occured in the company’s Nitrofurantoine manufacturing plant located in 5 Rūpnicu street, Olaine, which was opened last year. Two people were injured in the explosion and have been hospitalised. The shockwave has smashed the facility’s windows, but only two production lines have been affected. The rest of OlainFarm’s factory continues normal operations. The accident has not resulted in any pollution to the environment, and the company is currently investigating the cause behind it. OlainFarm is taking steps to ensure that the injured employees and their families receive any and all necessary help and support.

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated sales results of AS “OlainFarm” for March show that sales have reached 3.56 million lats (5.07 million euros). The major sales increases were achieved in Kyrgyzstan, where sales grew by 222% and Bulgaria where sales grew by 176%. Major sales markets of AS “OlainFarm” during March 2013 were Russia, Latvia and Belarus.

March 2013, consolidated results	Share in total sales	Changes to March 2012
Russia	41%	-15%
Latvia	29%	28%
Belarus	8%	8%
Kazakhstan	7%	29%
Georgia	3%	31%
Bulgaria	2%	176%
Italy	2%	NA
Tajikistan	1%	7%
Spain	1%	NA
Kyrgyzstan	1%	222%
Other	5%	-87%
Total	100%	-19%

During the first three months of 2013 according to preliminary results, sales of AS “OlainFarm” have reached 12.52 million lats (17.81 million euro), which represents an increase by 4% compared to similar period of 2012. The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 78%, Belarus, where sales grew by 72% , Uzbekistan, where sales grew by 64% and the UK, where sales grew by 51%. Major sales markets of AS “OlainFarm” during first three months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

Three months of 2013, consolidated results	Share in total sales	Changes to three months of 2012
Russia	45%	27%
Latvia	23%	34%
Belarus	9%	72%
Ukraine	6%	-71%
UK	5%	51%
Kazakhstan	4%	7%
Italy	1%	NA
Uzbekistan	1%	64%
Georgia	1%	-8%
Kyrgyzstan	1%	78%
Other	4%	-43%
Total	100%	4%

Sales of pharmacies owned by AS “OlainFarm” reached 0.8 million lats (1.16 million euro) during March. During first three months sales of pharmacies reached 2.26 million lats (3.22 million euro).

According to preliminary unconsolidated results of AS “OlainFarm”, sales of the company during March 2013 were 2.92 million lats (4.2 million euro). The most rapid sales increases were achieved in Kyrgyzstan, where sales grew by 222%, in Belarus, where sales grew by 176% and in Latvia, where sales grew by 53%. According to unconsolidated results the major sales markets of AS “OlainFarm” in March 2013 were Russia, Latvia, Belarus and Kazakhstan.

March 2013, unconsolidated results	Share in total sales	Changes to March 2012
Russia	51%	-15%
Latvia	13%	53%
Belarus	10%	8%
Kazakhstan	9%	29%
Georgia	3%	31%
Bulgaria	2%	176%
Italy	2%	NA
Tajikistan	2%	7%
Spain	2%	NA
Kyrgyzstan	1%	222%
Other	6%	-87%
Total	100%	-24%

During the first three months of 2013, according to preliminary results volume of unconsolidated sales of AS “OlainFarm” was 10.79 million lats (15.35 million euro), which represents an increase by 3% compared to similar period a year ago. The most rapid sales increases during three months of this year have been achieved in Latvia and Kyrgyzstan, where sales have grown by 86% and 78% respectively. According to preliminary unconsolidated sales results major sales markets of AS “OlainFarm” during three months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

Three months of 2013, unconsolidated results	Share in total sales	Changes to three months of 2012
Russia	52%	27%
Latvia	11%	86%
Belarus	10%	72%
Ukraine	7%	-71%
UK	5%	51%
Kazakhstan	4%	7%
Italy	2%	NA
Uzbekistan	1%	64%
Georgia	1%	-8%
Kyrgyzstan	1%	78%
Other	5%	-43%
Total	100%	3%

On April 12, 2013 Management Board of AS “OlainFarm” approved and proposed an operating plan for 2013, providing that the unconsolidated sales of company in 2013 will reach 50 million lats (71,1 million euro), while consolidated sales will reach 59 million lats (83.9 million euro). According to preliminary sales figures contained herein, during three months of 2013, 21.6% of target for unconsolidated sales and 21.2% of annual target for consolidated sales have been met.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

1. Report of the Board on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2012.

2. Report of the Council on results of operations in 2012.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2012.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2012.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2012.

5. Approval of the Audited Consolidated Annual Report for 2012.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2012.

6. Distribution of profit of 2012.

Draft resolution:

To use part of the year 2012 profit of JSC “Olainfarm” in amount of 1 507 103,35 lats (2 144 414,87 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 10,7 santims per one share, but part of the profit in amount of 8 500 654,65 lats (12 095 341,87 euro) to reinvest in development of JSC “Olainfarm”.

Set June 17th, 2013, as a record date for dividends and June 21^st, 2013, as the date of payment of dividends.

7. Report of the Board on budget and on planned operations in 2013.

Draft resolution:

To take notice of Report of the Board on budget and on planned operations in 2013, which include Company’s unconsolidated turnover forecast for 2013 in amount of 50 million lats (71 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2013 in amount of 59 million lats (84 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 11 million lats (15,6 million Euro), but consolidated profit is 11,5 million lats (16,4 million Euro).

8. Election of the Certified Auditor for 2013.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2013.

8.2. to set the total remuneration of certified auditor in accordance with the approved budget.

9. Election of the Auditing Committee.

Draft resolutions:

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 2 250 lats.

10. Election of the Council

Draft resolutions:

10.1. to elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that this terms commences on April 30th, 2013:

Name, surname, personal details:

1. Olena Dudko;

2. Valentina Andrejeva;

3. Volodymir Kryvozubov;

4. Gunta Veismane;

5. Aleksandrs Raicis.

10.2. To set the total monthly remuneration of all the Supervisory Council in the amount of _____________.

Resolution on the remuneration of the members of the Council shall be made in accordance with offers of the shareholders.

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@OlainFarm.lv

The Management Board of Joint Stock company “Olainfarm” (reg.No. 40003007246, legal address: Rupnicu street 5, Olaine, LV-2114) hereby notifies, that the agenda of the Annual shareholders meeting, which is scheduled for April 29th, 2013, is amended by adding the following additional item:

- Election of the Council.

Additional item has been included in accordance with the request of the shareholder SIA „Olmafarm” by using rights provided by part 2 of the article 274 of the Commercial law.

The Management Board of Joint Stock company “Olainfarm”

A/s OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „OlainFarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Management Board of the Joint Stock company “Olainfarm” (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Annual
General Meeting of JSC “Olainfarm” Shareholders will be convened on April 29, 2013 at 11:00 at the premises of JSC „Olainfarm” in Olaine, Rupnicu iela 5.
Agenda:
1.    Report of the Management Board about the results of operations in 2012.
2.    Report of the Council about the results of operations in 2012.
3.    Report of the Auditing Committee.
4.    Approval of the audited Annual Report of 2012.
5.    Approval of the audited consolidated Annual Report of 2012.
6.    Distribution of profit of 2012.
7.    Report of the Management Board about the budget and operational plan for 2013.
8.    Elections of the sworn auditor for 2013 and setting of the remuneration for the sworn auditor.
9.    Elections of the Auditing Committee and setting of the remuneration of the Auditing Committee.

Registration of the shareholders will take place on the day of the meeting, i.e. April 29, 2013 from 10:00 until 10:45 on the venue.
Total number of shares and the total number of the voting shares of JSC „Olainfarm is 14 085 078.
Date of the record for participation of the shareholders in the Annual General Meeting of shareholders of JSC „Olainfarm” is April 19th, 2013. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on April 29, 2013, with the number of shares held by them at the date of record.
Shareholders may participate in the Annual General Meeting of shareholders either in person or represented through a proxy:
-              When registering the shareholders must present either the passport or other identification document;
-              When registering the representatives of the shareholders must present the passport of other identification document, submit a written power of attorney by the represented shareholder (the form of the power of attorney is available at JSC “Olainfarm” web-site http://www.olainfarm.lv, web-site of the system of Central Storage of Regulated Information http://www.oricgs.lv and web-site of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com) or the legal representative has to present a document confirming the authority.
Shareholders have the following rights:
-              shareholders that represent at least 1/20 of the capital of the company have the right to within 7 days after the announcement is published to request the Management Board of JSC „Olainfarm” to include additional items in the agenda. Shareholders that request inclusion of additional items in the agenda of the Annual General Meeting of shareholders must submit to the Management Board of JSC „Olainfarm” draft decisions about the issues to be included in the agenda upon their request or explanations about the item, if no decision is planned;
-              within 7 days after the publishing of this announcement, submit draft decisions about the items of agenda. Should all submitted draft decisions be reviewed and declined, shareholders may submit their proposed draft decisions during the Annual General Meeting of Shareholders itself;
-              should the shareholder submit an inquiry at least 7 days before the Annual General Meeting of shareholders, the Management Board shall at least 3 days before the Annual General Meeting of shareholders provide the requested information about the items included in the agenda. It is a duty of the Management Board to upon the request of the shareholder provide information about the economic situation of the company to the extent necessary for objective decision-making of the particular item on the agenda.
Shareholders may see the draft resolutions of the Annual general Meeting of Shareholders from April 12, 2013 until April 26, 2013 on working days from 09:00 until 16:00 in Olaine, Rupnicu iela 5, in the Legal division of JSC „Olainfarm”, if scheduled in advance through telephone + 371 6 7013 870 or on the web page of JSC „Olainfarm” http://www.olainfarm.lv, but on the day of the Annual General Meeting – at the registration desk.
Information about the Annual General Meeting and rights of the shareholders is also available at web page of JSC „Olainfarm” http://www.olainfarm.lv, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com.

Management Board of the JSC „Olainfarm”

AS OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated results of AS “Olainfarm” for February 2013 show that sales of the company reached 3.49 million lats (4.97 million euros). The biggest sales increases were achieved in Kyrgyzstan, where sales grew by 240%, and in Belarus where sales grew by 123%. Major sales markets of AS “Olainfarm” in February of 2013 were Russia, Latvia and Belarus.

February 2013, consolidated results	Share in total sales	Changes to February 2012
Russia	41%	5%
Latvia	26%	27%
Belarus	13%	123%
UK	8%	-25%
Kazakhstan	5%	-24%
Italy	3%	NA
Kyrgyzstan	1%	240%
Canada	1%	8%
Lithuania	1%	-52%
Uzbekistan	1%	NA
Other	2%	-95%
Total	100%	-15%

During the first two months of 2013 according to preliminary consolidated results, the sales have reached 8.96 million lats (12.75 million euro), which represents an increase by 18%, compared to similar period of 2012. The most rapid increases in sales during the first two months were achieved in Belarus, where sales grew by 117%, sales to Russia grew by 55%, sales to the UK grew by 51% and sales to Kyrgyzstan grew by 29%. Major sales market of AS “Olainfarm” during the first two months of 2013 were Russia, Latvia Belarus, Ukraine and the UK.

Two months of 2013, consolidated results	Share in total sales	Changes to 2 months of 2012
Russia	46%	55%
Latvia	21%	38%
Belarus	9%	117%
Ukraine	9%	-60%
UK	6%	51%
Kazakhstan	2%	-13%
Uzbekistan	2%	NA
Italy	1%	NA
Kyrgyzstan	1%	29%
Lithuania	0%	-41%
Other	2%	-62%
Total	100%	18%

Sales of pharmacies owned by AS “Olainfarm” during February 2013 were 0.7 million lats (0.99 million euro). Sales of these pharmacies during two months of 2013 were 1.44 million lats (2.05 million euro).

According to unconsolidated preliminary results sales of AS “Olainfarm” during February of 2013 were 2.95 million lats (4.2 million euro). The most rapid sales increases were achieved to Kyrgyzstan, where sales grew by 240%, to Belarus, where sales grew by 123% and Latvia, where sales have grown by 61%. According to unconsolidated results the major sales markets of AS “Olainfarm” in February 2013 were Russia, Belarus, Latvia and the UK.

February 2013, unconsolidated results	Share in total sales	Changes to February 2012
Russia	48%	5%
Belarus	15%	123%
Latvia	12%	61%
UK	10%	-25%
Kazakhstan	6%	-24%
Italy	3%	NA
Kyrgyzstan	2%	240%
Canada	1%	8%
Lithuania	1%	-52%
Uzbekistan	1%	NA
Other	2%	-95%
Total	100%	-18%

During two months of 2013, according to preliminary unconsolidated results, sales of have reached 7.87 million lats (11.2 million euro), which represents an increase by 19% compared to similar period of 2012. The most rapid sales increases during these two months have been achieved in Belarus and Latvia, where sales have more than doubled. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” during two months of 2013 were Russia, Latvia, Belarus, Ukraine and the UK.

Two months of 2013, unconsolidated results	Share in total sales	Changes to two months of 2012
Russia	52%	55%
Latvia	10%	106%
Belarus	10%	117%
Ukraine	10%	-60%
UK	7%	51%
Kazakhstan	2%	-13%
Uzbekistan	2%	NA
Italy	1%	NA
Kyrgyzstan	1%	29%
Lithuania	1%	-41%
Other	2%	-62%
Total	100%	19%

Although no sales targets for 2013 are formally approved yet, for planning purposes management is using the target of 50 million lats (71.1 million euros) for unconsolidated sales and 57 million lats (81.1 million euros) for consolidated sales. According to these preliminary results, during the first two months of 2013 the company has made 15.7% of both, unconsolidated and consolidated annual sales target.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

During February of this year AS “Olainfarm” agreed with AS “SEB Banka” to increase its loan by 6.6 million euros to 12 million euros. It is planned that proceeds from the loan are used to purchase pharmacies and other companies related to pharmaceutical business. The loan will be due on May, 2105.

“In order to keep the momentum and maintain the long term growth of the company, we will continue with expansion of chain of „Latvijas Aptiekas”. We are considering the purchase of five new pharmacies which will bring the total number of our pharmacies close to 50 all over Latvia,” says Salvis Lapins, Member of the Board of AS “Olainfarm”.

Because of the increase in loan, several new commercial pledge and mortgage loans were signed. According to them the maximum combined amount of secured claim is slightly above 13 million lats. Just as with previous amount of loan, shares in daughter companies of AS „Olainfarm”, real estate and other property is pledged.

Consolidated profit and loss account of AS “Olainfarm” for operations of 2012 shows that the company has achieved new record profit of 9.75 million lats (13.88 million euros), which is an increase by 41% compared to 2011, when profit of AS “Olainfarm” was 6.91 million lats (9.84 million euros)

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS „Olainfarm”
Tel: +371 6 7013 717
E-mail: Salvis.Lapins@olainfarm.lv

On March 6 AS „Olainfarm” organized its fourth quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of fourth quarter and full year of 2012 and informed about the company’s future activities.

As Salvis Lapiņš informed during the webinar AS “Olainfarm” Board intends to increase the dividend pay-out ratio by 2.5 percentage points every year in coming years, if possible. The Board intends to propose such approach to shareholders until the pay-out ratio reaches 25%. Taking into account the non-audited financial results of 2012, the dividends for the year 2012 could reach 0.10 LVL (0.14 EUR) per share.

Also, Salvis Lapiņš informed that currently AS „Olainfarm” already owns 45 pharmacies in Latvia and the plan to increase the number till 50 is still valid.

Answering the questions sent in by the investors, Salvis Lapiņš reminded that the company has signed an Agreement On Project Implementation with Latvian Investment and Development

Agency (LIDA), according to which AS „Olainfarm”willl make high value-added investments into production of nitrofuranes and 35% of the eligible project costs will be funded by LIDA. Total cost of the project is 5.88 million lats and the completion is scheduled in 2015. During 2013 it is planned to invest 3-3.2 million lats (4.3-4.5 million EUR) from the total sum of the project.

The recorded “Olainfarm” webinar is available online: http://ej.uz/OLFQ4_rec, and the presentation, demonstrated during the webinar, can be found in the previously published AS “Olainfarm” announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=545057&messageId=671769.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

During the webinar held on March 6, 2013, Member of the Board of AS “OlainFarm” Salvis Lapins gave the enclosed
presentation about the update of company’s recent developments.

Among other things the participants were informed, that should the amount of unaudited profit and previously announced intention of the Board remain unchanged a dividend of 0,1 lats per share could be expected for 2012.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of
medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and
effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more
than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Consolidated profit and loss statement of AS “OlainFarm” for 2012 shows that a concern has set yet another profit record, making a net profit of 9.75 million lats (13.88 million euro). This is an increase by 41% compared to 2011 when AS “OlainFarm” made a profit of 6.91 million lats (9.84 million euro).

“Last year was so far the most successful one in corporate history, which makes us set even higher targets for our processes and operations to keep similar pace in future. This year we will continue with developing the network of “Latvijas aptiekas” tīkla attīstībā, but in near future we also plan to grow into segment of medical devices and food supplements and use our marketing and promotion resources of CIS and other countries to strengthen it,” says Valerijs Maligins, Chairman of OlainFarm’s Board.

Unaudited consolidated profit and loss statement for 2012 shows that consolidated sales were 52.91 million lats (75.29 million euro). Net profit of the concern in this period was 9 752 488 lats (13 876 540 euro). A year ago profit of AS “OlainFarm” was 6 914 051 lats (9 837 808 euro). Fourth quarter of 2012 was the most profitable in corporate history as the net profit reached 3.4 million lats (4.8 million euro) which is an increase by 85% compared to the 4th quarter of 2011.

During 2012 41 registration cases of OlainFarm products have been completed. An eCTD system has been successfully implemented in a Company and the first file in such format has been submitted (Memodex 10mg) for registration in 10 EU countries. For the first time OlainFarm is registering medicines according to DCP procedure with Latvia being a reference country.

During 2012 sales to all our key markets continued growing, except Belarus, which experienced a decline of 10% compared to rather successful 2011. The biggest sales increases were achieved in Taiwan, where sales grew 11 times, in Latvia, where sales grew more than threefold, UK where sales increased by 61%, Ukraine by 44% and Russia, where sales grew by 31%. Major sales markets of AS “OlainFarm” in 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

Annual meeting of shareholders of A/s “OlainFarm” held on April 27, 2012 approved operating plan of the Concern. According to it, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to this unaudited report for 2012, annual sales plan has been outperformed by 10.2%, while annual profit target has been exceeded by 13.4%.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2012 investor conference webinar scheduled on March 6, 2013 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of fourth quarter and full year 2012 financial results will be discussed.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till March 5 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://bit.ly/OLFQ42012 on March 6, 2013 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

Preliminary consolidated results of AS “Olainfarm” for January 2013 show that sales have increased by 55% compared to the same period of last year and have reached 5.47 million lats (7.78 million euros). Major sales increases were achieved in Belarus, where sales grew by 110%, Russia (by 105%) and Latvia, where sales grew by 48%. Biggest sales markets of AS “Olainfarm” in January 2013 were Russia, Latvia and Ukraine

January 2013, consolidated results	Share in total sales	Changes to January 2012
Russia	50%	105%
Latvia	18%	48%
Ukraine	14%	-22%
Belarus	7%	110%
UK	5%	NA
Uzbekistan	2%	NA
Czech Republic	1%	NA
Italy	<1%	NA
Kazakhstan	<1%	NA
Moldova	<1%	NA
Other	1%	-79%
Total	100%	55%

Sales of pharmacies owned by AS “Olainfarm” in January 2013 was 0.74 million lats (1.05 million euros).

According to preliminary unconsolidated results of AS “Olainfarm”, the sales during January 2013 were 4.92 million lats (7 million euros), which represents an increase by 63% compared to similar period a year ago. Most rapid sales increases were achieved in Latvia (by 165%), Belarus (by 110%) and Russia, where sales grew by 105%. According to unconsolidated results the main sales markets of AS “Olainfarm” in January 2013 were Russia, Ukraine, Latvia and Belarus.

January 2013, unconsolidated results	Share in total sales	Changes to January 2012
Russia	55%	105%
Ukraine	16%	-22%
Latvia	9%	165%
Belarus	8%	110%
UK	6%	NA
Uzbekistan	3%	NA
Czech Republic	1%	NA
Italy	<1%	NA
Kazakhstan	<1%	NA
Moldova	<1%	NA
Other	1%	-79%
Total	100%	63%

Although no sales targets for 2013 are formally approved yet, for planning purposes management is using the target of 50 million lats (71.1 million euros) for unconsolidated sales and 57 million lats (81.1 million euros) for consolidated sales. According to these preliminary results, during the month of January the company has made 9.8% of annual unconsolidated sales target and 9.6% of annual consolidated sales target.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/S „Olainfarm”
Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated results of JSC “Olainfarm” (OlainFarm) for December 2012 show that sales have increased by 94% compared to the same period one year ago and reached 5.56 million lats (7.91 million euros). Major sales increase was achieved in India, where sales grew by 1094% and Ukraine, where sales grew by 499%. Major sales markets of OlainFarm in December 2012 were Ukraine, Russia, Latvia and Belarus. In total target for unconsolidated sales in 2012 has been outperformed by 15.8%.

December 2012, consolidated results	Share in total sales	Changes to December 2011
Ukraine	37%	499%
Russia	30%	38%
Latvia	15%	143%
Belarus	5%	158%
Kazakhstan	4%	51%
The Netherlands	2%	NA
India	1%	1094%
Moldova	1%	106%
Lithuania	1%	-60%
Tajikistan	1%	NA
Other	3%	-67%
Total	100%	94%

Because of the possible delay with renewal of registration documents, there is a risk that at the beginning of 2013, imports of several products to Ukraine will be temporarily limited. For this reason, during extra shipments to Ukraine were made in December too. It is very difficult to identify the precise value of extra shipments, however, it has been preliminary estimated that in addition to normal demand, products worth 1.5 million lats were sold to Ukraine during December. In total, according to company’s estimates, during the last three months products worth approximately 3.7 million lats (5.2 million euros), were shipped to Ukraine in advance.

Last year preliminary consolidated sales of OlainFarm were 52.62 million lats (74.87 million euro), which represents an increase by 43% compared to 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%. Major sales markets of OlainFarm in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated results	Share in total sales	Changes to 2011
Russia	35%	31%
Ukraine	26%	44%
Latvia	18%	262%
Belarus	5%	-10%
Kazakhstan	4%	10%
UK	4%	61%
Uzbekistan	1%	22%
Taiwan	1%	1051%
Lithuania	1%	-17%
Georgia	1%	-15%
Other	6%	-10%
Total	100%	43%

Sales of pharmacies owned by OlainFarm in December of 2012 were 0.68 million lats (0.97 million euros). During the entire 2012 pharmacies owned by OlainFarm made sales of 7.16 million lats (10.19 million euros).

According to unconsolidated preliminary results the sales of OlainFarm in December 2012 were 5.03 million lats (7.16 million euros), which represents an increase by 89% compared to similar period of 2011. The most rapid sales increases were achieved in India, where sales grew by 1094%, Ukraine, where sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales grew by 123%. According to unconsolidated figures, the major sales markets of OlainFarm in December 2012 were Ukraine, Russia, Latvia and Belarus.

December 2012, unconsolidated results	Share in total sales	Changes to December 2011
Ukraine	41%	499%
Russia	33%	38%
Latvia	6%	123%
Belarus	5%	158%
Kazakhstan	4%	51%
The Netherlands	2%	NA
India	1%	1094%
Moldova	1%	106%
Lithuania	1%	-60%
Tajikistan	1%	NA
Other	3%	-67%
Total	100%	89%

Preliminary unconsolidated sales of OlainFarm in 2012 is 46.31 million lats (65.9 million euro), which represents an increase by 28%, compared to 2011. Last year the most rapid sales increases were achieved in Taiwan, where sales grew 11.5 times and the UK, where sales increased by 61%. According to preliminary unconsolidated results major sales markets of OlainFarm in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated results	Share in total sales	Changes to 2011
Russia	39%	31%
Ukraine	29%	44%
Latvia	7%	40%
Belarus	6%	-10%
Kazakhstan	4%	10%
UK	4%	61%
Uzbekistan	2%	22%
Taiwan	1%	1051%
Lithuania	1%	-17%
Georgia	1%	-15%
Other	7%	-10%
Total	100%	28%

Sales forecasts of OlainFarm for 2012.gada provided that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sale figures, during 2012, target of unconsolidated sales has been outperformed by more than 6 million lats (8.5 million euros), while target for consolidated sales has been outperformed by 4.62 million lats (6.6 million euro) or 9.6%

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
JSC „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated results of AS “Olainfarm” for December 2012 show that sales have increased by 94% compared to the same period one year ago and reached 5.56 million lats (7.91 million euros). Major sales increase was achieved in India, where sales grew by 1094% and Ukraine, where sales grew by 499%. Major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus. In total target for unconsolidated sales in 2012 has been outperformed by 15.8%.

December 2012, consolidated results	Share in total sales	Changes to December 2011
Ukraine	37%	499%
Russia	30%	38%
Latvia	15%	143%
Belarus	5%	158%
Kazakhstan	4%	51%
The Netherlands	2%	NA
India	1%	1094%
Moldova	1%	106%
Lithuania	1%	-60%
Tajikistan	1%	NA
Other	3%	-67%
Total	100%	94%

Because of the possible delay with renewal of registration documents, there is a risk that at the beginning of 2013, imports of several products to Ukraine will be temporarily limited. For this reason, during extra shipments to Ukraine were made in December too. It is very difficult to identify the precise value of extra shipments, however, it has been preliminary estimated that in addition to normal demand, products worth 1.5 million lats were sold to Ukraine during December. In total, according to company’s estimates, during the last three months products worth approximately 3.7 million lats (5.2 million euros), were shipped to Ukraine in advance.

Last year preliminary consolidated sales of AS “Olainfarm” were 52.62 million lats (74.87 million euro), which represents an increase by 43% compared to 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 11 times, sales to Latvia grew nearly fourfold, sales to the UK grew by more than 60%, sales to Ukraine by 44% and sales to Russia grew by 31%. Major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated results	Share in total sales	Changes to 2011
Russia	35%	31%
Ukraine	26%	44%
Latvia	18%	262%
Belarus	5%	-10%
Kazakhstan	4%	10%
UK	4%	61%
Uzbekistan	1%	22%
Taiwan	1%	1051%
Lithuania	1%	-17%
Georgia	1%	-15%
Other	6%	-10%
Total	100%	43%

Sales of pharmacies owned by AS “Olainfarm” in December of 2012 were 0.68 million lats (0.97 million euros). During the entire 2012 pharmacies owned by AS “Olainfarm” made sales of 7.16 million lats (10.19 million euros).

According to unconsolidated preliminary results the sales of AS “Olainfarm” in December 2012 were 5.03 million lats (7.16 million euros), which represents an increase by 89% compared to similar period of 2011. The most rapid sales increases were achieved in India, where sales grew by 1094%, Ukraine, where sales grew by 499%, Belarus, where sales grew by 158% and Latvia, where sales grew by 123%. According to unconsolidated figures, the major sales markets of AS “Olainfarm” in December 2012 were Ukraine, Russia, Latvia and Belarus.

December 2012, unconsolidated results	Share in total sales	Changes to December 2011
Ukraine	41%	499%
Russia	33%	38%
Latvia	6%	123%
Belarus	5%	158%
Kazakhstan	4%	51%
The Netherlands	2%	NA
India	1%	1094%
Moldova	1%	106%
Lithuania	1%	-60%
Tajikistan	1%	NA
Other	3%	-67%
Total	100%	89%

Preliminary unconsolidated sales of AS “Olainfarm” in 2012 is 46.31 million lats (65.9 million euro), which represents an increase by 28%, compared to 2011. Last year the most rapid sales increases were achieved in Taiwan, where sales grew 11.5 times and the UK, where sales increased by 61%. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

2012, consolidated results	Share in total sales	Changes to 2011
Russia	39%	31%
Ukraine	29%	44%
Latvia	7%	40%
Belarus	6%	-10%
Kazakhstan	4%	10%
UK	4%	61%
Uzbekistan	2%	22%
Taiwan	1%	1051%
Lithuania	1%	-17%
Georgia	1%	-15%
Other	7%	-10%
Total	100%	28%

Sales forecasts of AS „Olainfarm” for 2012.gada provided that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sale figures, during 2012, target of unconsolidated sales has been outperformed by more than 6 million lats (8.5 million euros), while target for consolidated sales has been outperformed by 4.62 million lats (6.6 million euro) or 9.6%

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

JSC „OlainFarm” hereby announces the dates on which its financial reports will be published in 2013:

Unaudited financial report for 2012 will be published on February 28, 2013.

Unaudited financial report for 1st quarter of 2013 will be published on May 31, 2013.

Unaudited financial report for 2 quarters of 2013 will be published on August 30, 2013.

Unaudited financial report for 3 quarters of 2013 will be published on November 29, 2013.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Fax: +371 6 7013 777
E-mail: slapinsh@olainfarm.lv

On December 10 JSC „Olainfarm” (OlainFarm) organized its third quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of OlainFarm Salvis Lapiņš analysed the financial results of third quarter 2012 and informed about the company’s future activities.

As Salvis Lapiņš informed during the webinar OlainFarm budget forecast for 2012 is 48 M LVL with net profit 8,6 M LVL. Based on 9 months results, current turnover has reached 73.3% of target and net profit – 74.2%, therefore company is positive about reaching, and even exceeding its budget forecast by the end of the year.

Answering the questions sent in by the investors, Salvis Lapiņš informed that OlainFarm is also actively working to expand on Turkish and Polish markets. Also the daughter company – “Olaines enerģija” has recently (from the beginning of December, 2012) started to produce energy for AS “Olainfarm” production facilities and OlainFarm is no longer purchasing gas from “Latvijas gāze”. However it is too early to judge on potential financial gains.

The recorded OlainFarm webinar is available online: http://ej.uz/OLFdecember_REC, and the presentation, demonstrated during the webinar, can be found in the previously published OlainFarm announcement: https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=533560&messageId=656679.

OlainFarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

JSC ”Olainfarm” is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

AS „Olainfarm” (OlainFarm) invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2012 investor conference webinar scheduled on December 10, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse OlainFarm non-audited financial results of 3rd quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till 10:00 am of December 10^th to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFdecember on December 10, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.
Join the webinar and be the first one to hear the news!

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Consolidated profit and loss account of JSC „OlainFarm” (OlainFarm) for operations in nine months of 2012 shows that the concern continues setting profit records as it has made the net profit of 6.4 million lats (9.1 million euros) in nine months. This is an increase by 27% compared to nine months on 2011 and almost ten times more than five years ago in 2007. First nine months of this year have been the most profitable in corporate history of OlainFarm.

“Nine months results of this year show that OlainFarm is surely on its way to become the leading producer of chemical and pharmaceutical products in the Baltic states. This is also confirmed by the award for “Top 500 EBITDA Maker” received last week. We are also very honoured that as OlainFarm celebrated its 40^th Anniversary, President Andris Berzins of Latvia awarded us with a special Certificate of Appreciation for Impressive Growth and Increase in Value,” says Valerijs Maligins, Chairman of the Board of OlainFarm.

Sales of OlainFarm in nine months of 2012 have grown by 34% compared to the same period a year ago and reached 35.2 million lats (50 million euro).

During nine months of 2012 sales to all our key markets continued growing, except Belarus. The biggest sales increases were achieved in Taiwan, where sales grew 8 times, in Latvia, where sales grew fourfold, the UK, where sales doubled and Russia, where sales grew by 30%. Major sales markets of OlainFarm in nine months of 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

According to budget and operating plan of OlainFarm for 2012, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to this unaudited report for 3 quarters of 2012, during the first nine months 73.3% of annual sales target and 74.2% of annual profit target is met
CONSOLIDATED ANNUAL REPORT FOR THE PERIOD ENDED 30 SEPTEMBEER 2012 (.pdf)

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
a/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary figures on consolidated sales of AS “Olainfarm” during October 2012 show that sales have increased by 99% compared to the same period a year ago and have reached 6.01 million lats (8.55 million euros). The biggest sales increases were achieved in Latvia (by 358%) and Ukraine (by 285%). Major sales markets of AS “Olainfarm” during October 2012 were Russia, Ukraine, Latvia and the UK.

October 2012, consolidated sales	Share in total sales	Changes to October 2011
Russia	34%	70%
Ukraine	27%	285%
Latvia	16%	358%
UK	6%	100%
Kazakhstan	4%	72%
Belarus	4%	-23%
Uzbekistan	3%	NA
Georgia	1%	56%
Bulgaria	1%	113%
Tajikistan	1%	134%
Other	3%	-60%
Total	100%	99%

In ten months of 2012, according to preliminary consolidated results sales of AS “Olainfarm” were 41.08 million lats (58.45 million euros) which represents an increase by 37% compared to the same period of 2011. The most rapid sales increases were achieved in Taiwan, where sales grew 9 times, sales to Latvia grew fourfold, sales to the UK doubled, and sales to Uzbekistan grew by 36%, while sales to Russia grew by 34%. Major sales markets of AS “Olainfarm” during 10 months of 2012 were Russia, Ukraine, Latvia, Belarus, the UK and Kazakhstan.

10 months of 2012, consolidated sales	Share in total sales	Changes to 10 months of 2011
Russia	37%	34%
Ukraine	21%	6%
Latvia	19%	317%
Belarus	5%	-13%
UK	5%	100%
Kazakhstan	4%	13%
Uzbekistan	2%	36%
Taiwan	1%	825%
Georgia	1%	5%
Lithuania	1%	3%
Other	6%	-15%
Total	100%	37%

Sales of pharmacies owned by AS “Olainfarm” during October were 0.7 million lats (.99 million euros). In ten months of 2012 sales of pharmacies owned by AS “Olainfarm” were 5.82 million lats (8.28 million euros).

According to unconsolidated sales figures of AS “Olainfarm”, its sales in October 2012 were 5.44 million lats (7.74 million euros), which is an increase by 80% compared to the same period one year ago. The most rapid sales increases were achieved in Ukraine (by 285%), Tajikistan (by 134%), Bulgaria (by 113%), the UK (by 100%), Latvia (by 85%), Kazakhstan (by 72%) and Russia, where sales grew by 70%. According to unconsolidated results, major sales markets of AS “Olainfarm” in October 2012 were Russia, Ukraine, Latvia and the UK.

October 2012, unconsolidated sales	Share in total sales	Changes to October 2011
Russia	37%	70%
Ukraine	30%	285%
Latvia	7%	85%
UK	7%	100%
Kazakhstan	4%	72%
Belarus	4%	-23%
Uzbekistan	3%	NA
Georgia	1%	56%
Bulgaria	1%	113%
Tajikistan	1%	134%
Other	4%	-60%
Total	100%	80%

In ten months of 2012 according to preliminary results the sales of AS “Olainfarm” were 35.81 million lats (50.95 million euros), this represents an increase by 20% compared to the same period of 2011. The most rapid sales increase during ten months of this year were achieved in Taiwan, where sales increased 9 times, and the UK, where sales doubled. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in ten months of 2012 were Russia, Ukraine, Belarus, the UK and Kazakhstan.

10 months of 2012, unconsolidated results	Share in total sales	Changes to 10 months of 2011
Russia	42%	34%
Ukraine	24%	6%
Latvia	7%	31%
Belarus	6%	-13%
UK	5%	100%
Kazakhstan	4%	13%
Uzbekistan	2%	36%
Taiwan	1%	825%
Georgia	1%	5%
Lithuania	1%	3%
Other	7%	-15%
Total	100%	20%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sales figures, in ten months of 2012 nearly 90% of annual target for unconsolidated sales and nearly 86% of annual target for consolidated sales have been achieved.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

e-mail: Salvis.Lapins@olainfarm.lv

At the ceremony of “National Capital Awards” Chairman of the Board of AS “Olainfarm” Valerijs Maligins received a Certificate of Appreciation from President Andris Berzins of Latvia. The Certificate was awarded celebrating impressive growth of the company that has been achieved through successful conquest of export markets. Value of business of AS “Olainfarm” during six years has increased from 11 million lats to 90 million lats. Company makes more than 90% of its revenues in export markets.

“We are glad that at the time of our 40^th anniversary we get this highly appreciated. I am thankful to everyone who has supported us during these years. We will continue working to ensure even further growth of “Olainfarm” and increase in its value and to have the sweet taste of success with us in future too,” says Valerijs Maligins, Chairman of “Olainfarm’s” Board.

“National Capital Awards” ceremony takes place along with publication of “Top 101 Latvian Highest Worth Companies in 2012”, a list prepared jointly by “Prudentia” investment bank and „NASDAQ OMX Riga”. Value of AS “Olainfarm” this year compared to 2011 has increased by 76% from 51.35 to 90.65 million lats. This has resulted in “Olainfarm” improving its position in the rank by 19 positions from 42^nd place in 2011 to 23^rd this year.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

Preliminary consolidated results of AS “Olainfarm” for September 2012 show that the sales have increased by 22% compared to the same period a year ago and have reached 4.52 million lats (6.43 million euro). The biggest sales increases have been achieved in Latvia (by 250%) and Russia (by 74%). Major sales markets of AS “Olainfarm” in September 2012 were Russia, Latvia, Ukraine and Belarus.

September 2012, consolidated results	Share in total sales	Changes to September 2011
Russia	39%	74%
Latvia	17%	250%
Ukraine	17%	-53%
Belarus	6%	-24%
UK	4%	NA
Bulgaria	3%	NA
Kazakhstan	2%	-12%
Germany	2%	NA
Spain	1%	NA
Uzbekistan	1%	NA
Other	7%	-24%
Total	100%	22%

According to preliminary results in 9 months of 2012 consolidated sales of AS “Olainfarm” were 35.07 million lats (49.90 million euro), this represents an increase by 31% compared to the same period of 2011. In nine months of this year the biggest sales increases were experienced inTaiwan, where sales grew eightfold, sales inLatviagrew fourfold, sales to theUKdoubled, but sales toRussiagrew by 30%. Major sales markets of AS “Olainfarm” in nine months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

9 months of 2012, consolidated results	Share in total sales	Changes to 9 months od 2011
Russia	37%	30%
Ukraine	19%	-7%
Latvia	19%	312%
Belarus	5%	-11%
UK	4%	100%
Kazakhstan	4%	6%
Uzbekistan	1%	2%
Taiwan	1%	713%
Lithuania	1%	-10%
Georgia	1%	-4%
Other	6%	-5%
Total	100%	31%

Sales of pharmacies owned by AS “Olainfarm” during September 2012 were 0.64 million lats (0.91 million euro). In nine months of 2012 sales of pharmacies owned by AS “Olainfarm” was 5.1 million lats (7.3 million euro).

According to preliminary results, unconsolidated sales of AS “Olainfarm” in September 2012 were 3.98 million lats (5.66 million euro), which represents an increase by 7% compared to the same period a year ago. The biggest sales increase was observed inRussia, where sales grew by 74%. According to unconsolidated results the major sales markets of AS “Olainfarm” in September of 2012 wereRussia,Ukraine,BelarusandLatvia.

September 2012, unconsolidated results	Share in total sales	Changes to September 2011
Russia	44%	74%
Ukraine	19%	-53%
Belarus	7%	-24%
Latvia	6%	5%
UK	5%	NA
Bulgaria	3%	NA
Kazakhstan	3%	-12%
Germany	2%	NA
Spain	2%	NA
Uzbekistan	2%	NA
Other	8%	-24%
Total	100%	7%

According to preliminary results, in nine months of 2012 unconsolidated sales of AS “Olainfarm” was 30.37 million lats (43.21 million euro), which represents a increase by 14%, compared to the same period of 2011. The most rapid sales increases were achieved inTaiwan, where sales grew eightfold,UK, where sales doubled, andLatvia, where sales grew by 25%. According to these preliminary unconsolidated results major sales markets of AS “Olainfarm” in nine months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

9 months of 2012, unconsolidated results	Share in total sales	Changes to 9 months of 2011
Russia	43%	30%
Ukraine	22%	-7%
Latvia	7%	24%
Belarus	6%	-11%
UK	5%	100%
Kazakhstan	4%	6%
Uzbekistan	2%	2%
Taiwan	1%	713%
Lithuania	1%	-10%
Georgia	1%	-4%
Other	7%	-5%
Total	100%	14%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sales figures, in nine months of 2012 nearly 76% of annual target for unconsolidated sales and nearly 73% of annual target for consolidated sales have been achieved.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717

On October 12, AS “Olainfarm” celebrated 40 years since first batch of furaginum was synthesized, which marked the beginning of company’s operations. During the celebrations Chairman of the Boards Mr. Valerijs Maligins not only had reviewed the major achievements, but also came up with forecasts regarding the expected development during the next decade; the company plans to invest about 35 million lats and maintain the growth of about 10-15% per annum, which, if more favourable scenario develops, could be even as high as 20-30%.

„Olainfarm” faces its 40^th anniversary in a very good shape – we have gained some experience, increased the production output, entered some new markets and have extended out product portfolio. Basically we are very well prepared for stable growth and further expansion to new markets in coming years. This gives me a reason to forecast that during the next decade, with the pessimistic scenario our growth will be at the level of 10-15%. However, “Olainfarm” has all the necessary resources to maintain its growth level at about 20-25% or even 30% per annum. Besides, we do not only grow on our own, we grow in cooperation with local and international partners and with the World Health Organisation,” says Valerijs Maligins, Chairman of Olainfarm’s Board.

V. Maligins emphasizes: „The most important factor influencing development of “Olainfarm” over the last 40 years and expected to influence it further are people: our employees, scientists, partners, patients. I would like to thank them and wish them further growth together with “Olainfarm”.”

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Preliminary consolidated results of AS “Olainfarm” for August show that sales have increased by 65% compared to the same period a year ago and reached 3.88 million lats (5.52 million euro). Biggest sales increases were achieved in Latvia (by 294%), Kyrgyzstan (by 162%), Canada (by 111%), and Russia (by 98%). Major sales markets of AS “Olainfarm” in August 2012 were Russia, Latvia, Ukraine and Kazakhstan.

August 2012, consolidated results	Share in total sales	Changes to August 2011
Russia	46%	98%
Latvia	20%	294%
Ukraine	17%	0%
Kazakhstan	6%	34%
Canada	2%	111%
Belarus	2%	8%
Italy	1%	-38%
Taiwan	1%	NA
Moldova	1%	27%
Kyrgyzstan	1%	162%
Other	2%	-58%
Total	100%	65%

In eight months of 2012, preliminary consolidated sales of AS “Olainfarm” are 30.55 million lats (43.46 million euro) – which represents an increase by 33%, compared to the same period of 2011. The most rapid sales increases have been achieved inTaiwanwhere sales grew 8 times,Latvia4 times, theUK, where sales grew by 75%, andGeorgiawhere sales grew by 38%. Major sales markets of AS “Olainfarm” in eight months of 2012 wereRussia,Ukraine,Latvia,Belarus, theUKandKazakhstan.

8 months of 2012, consolidated results	Share in total sales	Changes to 8 months of 2011
Russia	37%	25%
Ukraine	20%	5%
Latvia	19%	322%
Belarus	5%	-9%
UK	4%	75%
Kazakhstan	4%	8%
Uzbekistan	1%	-11%
Taiwan	1%	713%
Lithuania	1%	-21%
Georgia	1%	38%
Other	6%	-16%
Total	100%	33%

Sales of pharmacies owned by AS “Olainfarm” in August 2012 were 617 thousand lats (878 thousand euro). In eight months of 2012 sales of pharmacies owned by AS “Olainfarm” were 4.5 million lats (6.4 million euro).

According to preliminary unconsolidated results, sales of AS “Olainfarm” in August 2012 were 3,36 million lats (4.78 million euro), which represents an increase by 43% compared to this period a year ago. The most rapid sales increases were achieved inKyrgyzstan(by 162%),Canada(by 111%), as well asRussia(by 98%). In August of 2012 significant shipments were also made toTaiwan. According to unconsolidated results, the major sales markets of AS “Olainfarm” in August wereRussia,Ukraine,LatviaandKazakhstan.

August 2012, unconsolidated results	Share in total sales	Changes to August 2011
Russia	53%	98%
Ukraine	20%	0%
Latvia	8%	33%
Kazakhstan	7%	34%
Canada	3%	111%
Belarus	2%	8%
Italy	2%	-38%
Taiwan	2%	NA
Moldova	1%	27%
Kyrgyzstan	1%	162%
Other	2%	-58%
Total	100%	43%

In eight months of 2012, according to preliminary unconsolidated results sales of AS “Olainfarm” have reached 26.39 million lats (37.55 million euro) – which is an increase by 15%, compared to the same period in 2011. During eight months of this year the most rapid sales increases were achieved inTaiwan, where sales grew 8 tomes, theUKby 75%,Georgiaby 38%,Latviaby 27% andRussiaby 25%. According to preliminary unconsolidated results major sales markets of AS “Olainfarm” in eight months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

8 months of 2012, unconsolidated results	Share in total sales	Changes to 8 months of 2011
Russia	43%	25%
Ukraine	23%	5%
Latvia	7%	27%
Belarus	6%	-9%
UK	5%	75%
Kazakhstan	5%	8%
Uzbekistan	2%	-11%
Taiwan	1%	713%
Lithuania	1%	-21%
Georgia	1%	38%
Other	7%	-16%
Total	100%	15%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales in 2012 will reach 40 million lats (56.91 million euro), but consolidated sales will reach 48 million lats (68.3 million euro). According to these preliminary unconsolidated sales figures, in eight months of 2012 nearly 66% of annual target for unconsolidated sales and nearly 64% of annual target for consolidated sales have been achieved.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Consolidated profit and loss statement of AS „Olainfarm” for first six months of 2012 shows that the Company continues setting profit records by making 3.7 million lats (5.3 million euro) net profit in six months of this year. This is an increase by 15% compared to the first half of 2011, when the net profit was 3.2 million lats (4.6 million euro). This has so far been the most profitable first half of the year in corporate history of AS “Olainfarm”.

“We have experienced yet another profitable half year in our history, during which, because of our own chain of pharmacies, we have increased our Latvian sales fourfold. We have paid dividends for the second year in a row, and have an intention to make this a long term tradition,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”.

Sales of AS “Olainfarm” during six months of 2012 have increased by 27% to 22.7 million lats (32.2 million euro).

During 1st half of 2012 sales to all key markets continued growing, except Belarus, where sales remained stable. The biggest sales increases were achieved in Taiwan, where sales grew by 596%, in Latvia, where sales grew by 313%, and the UK, where sales grew by 75%. Major sales markets of AS “Olainfarm” in six months of 2012 were Russia, Latvia, Ukraine, Belarus and the UK.

Annual meeting of shareholders of A/s “Olainfarm” held on April 27, 2012 approved operating plan of the Concern. According to it, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to this unaudited report for 1st half of 2012, during the first six months 47.2% of annual sales target and 42.9% of annual profit target is met.
________________________________________
A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its second quarter 2012 investor conference webinar scheduled on September 5, 2012 at 16:00 (EET).
Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse AS “Olainfarm” non-audited financial results of 2nd quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till September 4 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFseptembris on September 5, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!
________________________________________
A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Preliminary consolidated results of AS “Olainfarm” for July show that the sales of the company have increased by 51% compared to the same period a year ago and have reached 4.06 million lats (5.78 million euro). The biggest sales increases were achieved in India, where sales grew 158 times, in Latvia by 430%, in Turkey by 73% and in Russia by 45%. Major sales markets of AS “Olainfarm” in July of 2012 were Russia, Ukraine, Latvia and Uzbekistan.

July 2012: Consolidated results	Share in total sales	Changes to July 2011
Russia	42%	45%
Ukraine	29%	18%
Latvia	18%	430%
Uzbekistan	4%	NA
India	1%	15784%
Tajikistan	1%	NA
Kazakhstan	1%	20%
Poland	1%	NA
Belarus	1%	-86%
Turkey	1%	73%
Others	1%	-69%
Total	100%	51%

According to preliminary results, consolidated sales of AS “Olainfarm” during seven months of 2012 were 26.68 million lats (37.96 million euro), which represents an increase by 29% compared to the same period of 2011. The most rapid sales increase during this seven months period was achieved in Taiwan, where sales have grown nearly 7 times, sales to Latvia have grown fourfold, sales to the UK have grown by 75%, but sales to Georgia have grown by 40%. Major sales markets of AS “Olainfarm” in seven months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

7 months of 2012: consolidated results	Share in total sales	Changes to 7 months of 2011
Russia	36%	17%
Ukraine	20%	6%
Latvia	19%	326%
Belarus	6%	-10%
UK	5%	75%
Kazakhstan	4%	4%
Uzbekistan	2%	10%
Taiwan	1%	596%
Lithuania	1%	-17%
Georgia	1%	40%
Others	6%	-20%
Total	100%	29%

Sales of pharmacies owned by AS “Olainfarm” in July 2012 were 0.57 million lats (0.81 million euro). In seven months of 2012 sales of pharmacies owned by AS “Olainfarm” were 3.63 million lats (5.17 million euro).

According to preliminary unconsolidated results the sales of AS “Olainfarm” during July 2012 was 3.56 million lats (5.06 million euro), which represents an increase by 32% compared to the same period a year ago. The most rapid sales increased were achieved inIndia, where sales grew 158 times, sales toLatviaandTurkeygrew by 73%, sales toRussiagrew by 45%. Biggest markets of AS “Olainfarm” in unconsolidated sales during July 2012 wereRussia,Ukraine,LatviaandUzbekistan.

July 2012: unconsolidated results	Share in total sales	Changes to July 2011
Russia	48%	45%
Ukraine	33%	18%
Latvia	7%	73%
Uzbekistan	5%	NA
India	1%	15784%
Tajikistan	1%	NA
Kazakhstan	1%	20%
Poland	1%	NA
Belarus	1%	-86%
Turkey	1%	73%
Other	1%	-69%
Total	100%	32%

According to preliminary results during 7 months of 2012 unconsolidated sales of AS “Olainfarm” were 23.05 million lats (32.79 million euro). This represents an increase by 12% compared to the same period of 2011. The most rapid sales increase during this seven months period was achieved in Taiwan, where sales have grown nearly 7 times, , sales to the UK have grown by 75%, sales to Georgia have grown by 40%, while sales to Latvia increased by 26%. Major sales markets of AS “Olainfarm” in seven months of 2012 wereRussia,Ukraine,Latvia,Belarus,UKandKazakhstan.

7 months of 2012: unconsolidated results	Share in total sales	Changes to 7 months of 2011
Russia	41%	17%
Ukraine	23%	6%
Belarus	7%	-10%
Latvia	7%	26%
UK	6%	75%
Kazakhstan	4%	4%
Uzbekistan	2%	10%
Taiwan	1%	596%
Lithuania	1%	-17%
Georgia	1%	40%
Other	7%	-20%
Total	100%	12%

Sales forecasts of AS „Olainfarm” for 2012 provide that unconsolidated sales will reach 40 million lats (56.91 million euro), while consolidated sales will be as high as 47 million lats (66.9 million euro). According to these preliminary results, during 7 months of 2012, the company has achieved nearly 58% of planned unconsolidated sales and nearly 57% of planned consolidated sales.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
E-mail: slapinsh@olainfarm.lv

Preliminary consolidated results of AS “Olainfarm” for June 2012 show that the sales have increased by 20% compared to the same period a year ago and have reached 4.16 million lats (5.92 million euro). The biggest sales increases were achieved in Lithuania by 517%, Latvia by 291% and Belarus by 201% Major sales markets of AS “Olainfarm” in June 2012 were Russia, Latvia, Ukraine, Belarus and the UK.

June 2012: consolidated sales	Share in total sales	Changes to June 2011
Russia	31%	-15%
Latvia	19%	291%
Ukraine	14%	-22%
Belarus	10%	201%
UK	9%	NA
Kazakhstan	4%	-23%
Taiwan	3%	NA
Australia	2%	NA
Georgia	2%	21%
Lithuania	1%	517%
Other	4%	-67%
Total	100%	20%

In six months of 2012 preliminary consolidated sales of AS “Olainfarm” were 22.62 million lats (32.19 million euro), which represents an increase by 26% compared to the same period a year ago. The biggest sales increases were achieved inTaiwan, where sales grew by 596%, inLatvia, where sales grew by 313%, and theUK, where sales grew by 75%. Major sales markets of AS “Olainfarm” in six months of 2012 wereRussia,Latvia,Ukraine,Belarusand theUK.

6 months of 2012: consolidated sales	Share in total sales	Changes to 6 months of 2011
Russia	35%	13%
Latvia	20%	313%
Ukraine	19%	3%
Belarus	7%	0%
UK	6%	75%
Kazakhstan	4%	3%
Taiwan	1%	596%
Uzbekistan	1%	-31%
Lithuania	1%	-5%
Georgia	1%	41%
Other	6%	-26%
Total	100%	26%

Sales of pharmacies owned by AS “Olainfarm” in June 2012 were 0.63 million lats (0.9 million euro). In six months of 2012 sales of these pharmacies were 3.29 million lats (4.68 million euro).

According to unconsolidated preliminary results of AS “Olainfarm”, sales during June 2012 were 3.6 million lats (5.12 million euro). This represents an increase by 4% compared to the same period a year ago. The biggest sales increases were achieved inLithuania– by 517%, andBelarusby 201%. Major markets for unconsolidated sales of AS “Olainfarm” in June 2012 wereRussia,Ukraine,Belarus,UKandLatvia.

June 2012: unconsolidated sales	Share in total sales	Changes to June 2011
Russia	36%	-15%
Ukraine	16%	-22%
Belarus	12%	201%
UK	11%	NA
Latvia	6%	11%
Kazakhstan	5%	-23%
Taiwan	3%	NA
Australia	2%	NA
Georgia	2%	21%
Lithuania	1%	517%
Other	5%	-67%
Total	100%	4%

During six months of 2012 preliminary unconsolidated sales of AS “Olainfarm” were 19.49 million lats (27.73 million euro). This represents an increase by 8% compared to the same period a year ago. The biggest sales increases were achieved inTaiwan– by 596%, theUK– by 75% and Georgia by 41%. In terms of unconsolidated sales, the major sales markets of AS “Olainfarm” in six months of 2012 wereRussia,Ukraine,Belarus,UK,LatviaandKazakhstan

6 months of 2012: unconsolidated sales	Share in total sales	Changes to 6 months of 2011
Russia	40%	13%
Ukraine	22%	3%
Belarus	8%	0%
UK	7%	75%
Latvia	7%	20%
Kazakhstan	5%	3%
Taiwan	2%	596%
Uzbekistan	1%	-31%
Lithuania	1%	-5%
Georgia	1%	41%
Other	7%	-26%
Total	100%	8%

Sales target of AS „Olainfarm” for 2012 provides that unconsolidated sales of the company for the entire year will be as high as 40 million lats (56.91 million euros), while the consolidated sales will reach 47 million lats (66.9 million euro). According to these preliminary unconsolidated sales results, during 6 months of 2012 49% of annual unconsolidated sales target was achieved, but according to preliminary consolidated sales results for 6 months of 2012, during this period 48% of annual target for consolidated sales were made.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
e-mail: slapinsh@olainfarm.lv

AS “Olainfarm” was named the best Latvian company listed on Baltic stock exchanges and was awarded „Baltic Corporate Excellence Award 2012”. AS “Olainfarm” this year was named second best company in the entire Baltics. During the last three years AS “Olainfarm” has demonstrated a very impressive improvement in valuations for Baltic Corporate Excellence Awards”, it has climbed from position 19 in the Baltics in 2010, to position 8 in 2011 to the second place this year.

Annual „Baltic Corporate Excellence Award” evaluation is conducted by financial analysts from „CE Services”, in order to identify which Baltic listed companies can both, maintain good financial results and good reputation and investor relations in a longer period of time. The award is also aimed to motivate other listed companies to improve their quality in terms of financial health, corporate governance and to strengthen their business model.

Experts of “CE Services” have pointed out that AS “Olainfarm” has managed to improve its financial results mainly because of increased sales and reduction of fixed costs. Product portfolio of the company is well diversified (10 bestselling products make up 87% of total sales). Experts also have emphasized that, since AS “Olainfarm” is vertically integrated and has a good infrastructure, it is very flexible with respect to its production capacity. Significant investments in marketing were started several years ago, that have allowed AS “Olainfarm” to increase its sales and market share in its major markets.

Jurry of “Baltic Corporate Excellence Award 2012” consists from representatives of Swiss based “CE Asset Management AG”, Latvian “CE Services” and BA School of Business and Finance. 50% of the score came from quantitative factors, including strength of the balance sheet, profitability, efficiency of capital and operations, currently and historically (last 5 years). The other 50% came from a deeper analysis of the company. It covered business model of the company, management structure, financial management and overall conditions of the company’s market.

Lithuanian telecommunications company „Teo LT” was named best in Baltics and in Lithuania, “Harju Elekter” was named the best listed company of Estonia.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Preliminary consolidated sales results of AS “Olainfarm” for May show that sales have increased to 3.18 million lats (4.53 million euro) which is by 8% more compared to the same period one year ago. Biggest sales increases were achieved in Kyrgyzstan – by 276%, Latvia – by 257%, Azerbaijan – by 121% and Belarus by 113%. Major sales markets of AS “Olainfarm” in May of 2012 were Russia, Latvia, Ukraine, Belarus, Kazakhstan and the UK.

May 2012, consolidated results	Changes to May 2011	Share in total sales
Russia	8%	35%
Latvia	257%	22%
Ukraine	-59%	14%
Belarus	113%	9%
Kazakhstan	14%	7%
UK	NA	6%
Azerbaijan	121%	1%
Canada	NA	1%
Kyrgyzstan	276%	1%
Uzbekistan	-79%	1%
Other	-44%	3%
Total	8%	100%

In five months of 2012 preliminary consolidates sales of AS “Olainfarm” were 18.43 million lats (26.23 million euros), which is an increase by 27% compared to the sale period of 2011. Impressive sales increases were achieved in US, where sales increased 344 times, Taiwan and Latvia where sales grew fourfold. Major sales markets of AS “Olainfarm” in five months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

5 months of 2012 -consolidated results	Changes to five months of 2011	Share in total sales
Russia	21%	36%
Ukraine	8%	20%
Latvia	315%	20%
Belarus	-20%	6%
UK	25%	5%
Kazakhstan	11%	4%
Uzbekistan	-30%	1%
Taiwan	311%	1%
USA	34367%	1%
Lithuania	-25%	1%
Other	-25%	6%
Total	27%	100%

Sales of pharmacies owned by AS “Olainfarm” in May 2012 were 0.53 million lats (0.75 million euro). In fine months of 2012 sales of these pharmacies were 2.64 million lats (3.77 million euro).

According to preliminary data, unconsolidated sales of AS “Olainfarm” in May 2012 were 2.68 million lats (3.82 million euro). This is a decrease by 9% compared to the same period a year ago. Biggest sales increases were achieved in Kyrgyzstan – by 276%, Azerbaijan – by 121% and Belarus by 113%. Major markets of AS “Olainfarm” for unconsolidated sales in May 2012 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

May 2012, unconsolidated results	Changes to May 2012	Share in total sales
Russia	8%	41%
Ukraine	-59%	16%
Belarus	113%	11%
Latvia	7%	8%
Kazakhstan	14%	8%
UK	NA	7%
Azerbaijan	121%	2%
Canada	NA	1%
Kyrgyzstan	276%	1%
Uzbekistan	-79%	1%
Other	-44%	4%
Total	-9%	100%

In five months of 2012 preliminary unconsolidated sales of AS “Olainfarm” were 15.89 million lats (22.60 million euro), which is an increase by 9% compared to the same period of 2011. Impressive sales increases were achieved in US, where sales increased 344 times, Taiwan and Latvia where sales grew fourfold. Major sales markets of AS “Olainfarm” in five months of 2012 were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

5 months of 2012, unconsolidated results	Changes to 5 months of 2011	Share in total sales
Russia	21%	41%
Ukraine	8%	23%
Belarus	-20%	7%
Latvia	22%	7%
UK	25%	6%
Kazakhstan	11%	5%
Uzbekistan	-30%	1%
Taiwan	311%	1%
USA	34367%	1%
Lithuania	-25%	1%
Other	-25%	7%
Total	9%	100%

Sales forecasts of AS „Olainfarm” for 2012 provide that unconsolidated sales of the company in 2012 will reach 40 million lats (56.91 million euro), while the consolidated sales will be as high as 47 million lats (66.9 million euro). According to these preliminary unaudited unconsolidated results, during 5 months of 2012 nearly 40% of annual unconsolidated sales target are met, while according to preliminary consolidated sales results, during 5 months of 2012 39% of annual consolidated sales target is achieved..

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

On June 7 AS „Olainfarm” organized its first quarter 2012 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of first quarter 2012 and informed about the company’s future perspectives.

As Salvis Lapiņš informed during the webinar, AS “Olainfarm” currently owns 36 different pharmacy stores, but during the next year it is planned to increase the number to 50-60 pharmacies.
According to Salvis Lapiņš, it is soon planned to rebrand the acquired pharmacies uniting them under the name “LV aptieka”.
Also, it was noted that on May 31, 2012 the registration of “Olvazol” capsules was finished in Ukraine.
Answering the questions sent in by the investors, Salvis Lapiņš informed that the retained profit of the year 2011 will be invested in company’s development – purchase of equipment and renovation of AS “Olainfarm” premises in order to ensure thermal efficiency, as well as in workforce and 2 million lats (2.85 million EUR) in purchases of new pharmacy stores.

The recorded Olainfarm webinar is available online: http://ej.uz/olf3ieraksts, and the presentation, demonstrated during the webinar, is attached to this announcement.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its first quarter 2012 investor conference webinar scheduled on June 7, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will analyse AS “Olainfarm” non-audited financial results of 1^st quarter 2012 and inform about the latest company’s activities.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till June 6 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFvebinars3 on June 7, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

Consolidated profit and loss account of AS „Olainfarm” for the first quarter of 2012 shows that the Concern has set yet another profits record of 2.4 million lats (3.4 million euros). This is an increase by 40% compared to the first quarter of 2011 when the company made the net profit of 1.7 million lats (2.4 million euros). This has so far been the most profitable quarter in corporate.

Unaudited profit and loss statement of AS “Olainfarm” for the 1st quarter of 2012 shows that sales were 12.1 million lats (17.2 million euros), This is an increase by 48% compared to 1st quarter of 2011 when sales of AS “Olainfarm” were 8.2 million lats (11.6 million euro).

“Results of the first quarter confirm ability of “Olainfarm” to continue increasing sales and profits not only in foreign markets. In Latvia, through our retail network we have increased our sales fourfold and are still growing. These developments had allowed us to pay dividends for the second time,” says Valerijs Maligins, Chairman of the Management Board.

During 1st quarter of 2012 sales continued increasing to all key markets except Belarus. The most rapid sales increases were achieved to USA, where sales grew 267 times, Taiwan 13 times, Latvia more than fourfold, Georgia more than threefold, and Ukraine where sales grew by 81%. Major sales markets of AS “Olainfarm” in three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

According to budget and operating plan of AS “Olainfarm”, sales of the Concern in 2012 are planned to be 48 million lats (68.3 million euros), but the net profit will reach 8.6 million lats (12.24 million euros). According to the unaudited report for 1st quarter of 2012, during the first three months 25.1% of annual sales target and 28% of annual profit target is met.

In 1st quarter of 2012 the Concern consists from parent company a/s „Olainfarm”, its daughter companies SIA „Ozols JRD”, whose major activities will be related to organizing sports and active leisure events in Olaine, daughter company „Olainfarm Enerģija”, that will be engaged in production of electric energy using cogeneration technologies, travel agency „First Class Lounge” and pharmaceutical retail companies SIA „Ilmas Aptieka”, SIA „Juko 99”, SIA „Veritas Farm”, SIA „Inula Farma”, a/s „Lege Artis” and SIA „Vita Plus”. In February 2012, shares in SIA „Teriaks Pļaviņu Aptieka” were also purchased.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

Preliminary consolidated sales results of AS “Olainfarm” for April 2012 show that sales reached 3.22 million lats (4.58 million euros), which represents a decrease by 5% compared to the same period last year. Sales in Latvia have increased by 374%, significant shipments were also made to Uzbekistan, Switzerland and the USA. Major sales markets of AS “Olainfarm” during April 2012 were Russia, Latvia. Ukraine, UK, Belarus Kazakhstan and Uzbekistan.

April 2012, consolidated results	Changes to April 2011	Share in total sales
Russia	-18%	32%
Latvia	374%	21%
Ukraine	-47%	12%
UK	0%	12%
Belarus	-4%	6%
Kazakhstan	-51%	4%
Uzbekistan	NA	3%
Lithuania	-6%	2%
Switzerland	NA	1%
USA	NA	1%
Other	-52%	5%
Total	-5%	100%

According to the preliminary results, during four months of 2012 consolidated sales of AS “Olainfarm” were 15.25 million lats (21.70 million euros) – which represents an increase by 32%, compared to the same period of 2011. The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times, and Latvia, where sales increased more than fourfold. Major sales markets of AS “Olainfarm” during this period were Russia, Ukraine, Latvia, Belarus, UK and Kazakhstan.

4 months of 2012, consolidated results	Changes to 4 months of 2011	Share in total sales
Russia	23%	36%
Ukraine	40%	21%
Latvia	329%	19%
Belarus	-34%	6%
UK	0%	5%
Kazakhstan	10%	4%
Uzbekistan	4%	1%
Taiwan	1280%	1%
USA	34367%	1%
Lithuania	-28%	1%
Other	-29%	6%
Total	32%	100%

Sales of chain of pharmacies owned by AS “Olainfarm” during April 2012 were 0.52 million lats (0.74 million euros). In four months of 2012, sales of pharmacies owned by AS “Olainfarm” were 2.12 million lats (3.02 million euros).

According to preliminary unconsolidated results sales of AS “Olainfarm” in April 2012 were 2.71 million lats (3.87 million euros), which represents a decrease by 19% compared to the same period one year ago. Significant sales increase was achieved in Latvia, whjere sales grew by 28%. The major sales markets of AS “Olainfarm” in April markets Russia, Ukraine, UK, Belarus, Latvia, Kazakhstan and Uzbekistan.

April 2012, unconsolidated results	Changes to April 2011	Share in total sales
Russia	-18%	38%
Ukraine	-47%	14%
UK	0%	14%
Belarus	-4%	7%
Latvia	28%	7%
Kazakhstan	-51%	5%
Uzbekistan	NA	4%
Lithuania	-6%	2%
Switzerland	NA	2%
USA	NA	1%
Other	-52%	6%
Total	-19%	100%

According to preliminary unconsolidated sales figures for four months of 2012, sales of AS “Olainfarm” were 13.2 million lats (18.78 million euros), which represents an increase by 14% compared to the respective period of 2011. The most rapid sales increases were achieved to the USA, where sales increased 344 times, Taiwan, where sales increased 13 times. Major sales markets of AS “Olainfarm” during four months of 2012 were Russia, Ukraine, Belarus, Latvia, UK and Kazakhstan.

4 months of 2012, unconsolidated results	Changes to 4 months of 2011	Share in total sales
Russia	23%	41%
Ukraine	40%	24%
Belarus	-34%	6%
Latvia	24%	6%
UK	0%	6%
Kazakhstan	10%	4%
Uzbekistan	4%	2%
Taiwan	1280%	1%
USA	34367%	1%
Lithuania	-28%	1%
Other	-29%	7%
Total	14%	100%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales of the company will reach 40 million lats (56.91 million euro), while consolidated sales will reach 47 million lats (66.9 million euro) According to these preliminary unconsolidated sales figures, during four months of 2012, 33% of annual target for unconsolidated sales are reached. According to the preliminary consolidated figures, during four months 32% of annual target for consolidated sales are reached.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

AS “Olainfarm” is currently finishing registration of capsules of “Noofen” in Russia, plans to start selling capsules of “Olvazol” in Ukraine in September and has started the registration of “Neiromidin” in China, Chairman of the Board Mr Valerijs Maligins told in his interview to portal naudaslietas.lv. AS “Olainfarm” plans to gradually increase share of profit payable in dividends, so that in more distant future it might be as high as 90% of profit.

“More significant growth in the future could be achieved if we through share issues purchase new companies,” says Valerijs Maligins, Chairman of the Board of AS “Olainfarm”. “In order to keep all financial options open, “Olainfarm” has to be attractive for investors, therefore we will gradually increase the portion of profit to be paid in dividends.”

At the moment most of company’s profit is being reinvested into the company, for instance, soon the cogeneration project will commence. Possibility of purchasing other producers of pharmaceuticals, herbal medicines or elastic bandages is also not ruled out.

Currently AS “Olainfarm” is finishing the registration of capsules of “Noofen” in Russia. According to company’s forecasts, in 5-6 years volume of sales of “Noofen” to Russia could reach 6 million euros.

Sales forecasts of AS „Olainfarm” for 2012 provides that unconsolidated sales will reach 40 million lats (56.9 million euros), but consolidated sales will be as high as 47 million lats (66.9 million euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

Name of securities: Public shares of JSC „Olainfarm”
ISIN code: LV000100501
Paid – in capital: 14 085 078 LVL
Date of the Annual General Meeting: April 27th, 2012, on 11.00 a.m.
Venue: Olaine, Rupnicu iela 5.
The following decisions have been adopted by the annual general meeting of shareholders:

1. Report of the Board on results of operations in 2011.

To take notice of the Report of the Board on results of operations in 2011.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2011.

To take notice of the Report of the Council on results of operations in 2011.

Voting: the resolution was adopted unanimously.

3. Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted unanimously.

4. Approval of the Audited Annual Report for 2011.

To approve the Audited Annual Report of JSC „Olainfarm” for 2011.

Voting: the resolution was adopted unanimously.

5. Approval of the Audited Consolidated Annual Report for 2011.

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2011.

Voting: the resolution was adopted unanimously.

6. Distribution of profit of 2011.

6.1. To use part of the profit of JSC “Olainfarm” in amount of 867 793,50 lats (1234758,91 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 6,16 santims per one share, but part of the profit in amount of 6 074 554,50 lats (8 643 312,36 euro) to reinvest in development of JSC “Olainfarm”.

Voting: the resolution was adopted with the necessary majority of votes.

6.2. Set August 03^rd, 2012, as a record date for dividends and August 08^th, 2012, as the date of payment of dividends.

Voting: the resolution was adopted with the necessary majority of votes.

7. Report of the Board on budget and on planned operations in 2012.

To take notice of Report of the Board on budget and on planned operations in 2012, which include Company’s unconsolidated turnover forecast for 2012 in amount of 40,00 million lats (56,91 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2012 in amount of 48,00 million lats (68,3 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 8,3 million lats (11,81 million Euro), but consolidated profit is 8,6 million lats (12,24 million Euro).

Voting: the resolution was adopted unanimously.

8. Election of the Certified Auditor for 2012.

8.1. Elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2012.

Voting: the resolution was adopted unanimously.

8.2. Set the total remuneration of certified auditor in accordance with the approved budget.

Voting: the resolution was adopted unanimously.

9. Election of the Auditing Committee.

9.1.Elect Zanna Karaseva, personal code 150775-10415, in the Auditing Committee of JSC „Olainfarm”.

Voting: the resolution was adopted unanimously.

9.2. Set the monthly remuneration of the members of the Auditing Committee at 500 Ls.

Voting: the resolution was adopted unanimously.

10. Padomes vēlēšanas.

Elect the Council of JSC “Olainfarm” consisting of the following members for the term of five years, setting that this terms commences at April 28th, 2012: Valentina Andrejeva; Elena Dudko; Aleksandrs Raicis; Volodimirs Krivozubovs; Talis Talents.

Voting: the following number of votes were cast for each candidate:
for V.Andrejevu – 2049476 votes, or 20,02% of votes present;
for E.Dudko – 2050712 votes, or 20,05% of votes present;
for A.Raicis – 2034284 votes, or 19,87% of votes present;
for V.Krivozubovs – 2050524 votes, or 20,03% of votes present;
for T.Talents – 2050418 votes, or 20,03% of votes present.

Set the total monthly remuneration of all the Supervisory Council in the amount of not more than Ls 6000.

Voting: the resolution was adopted unanimously.

In Olaine, on April 27th, 2012
Information prepared by:
Salvis Lapins
JSC “Olainfarm”
Member of the Management Board
Rupnicu iela 5, Olaine
Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary consolidated figures of AS “Olainfarm” for March 2012 show that sales of the company have increased by 65% compared to the same period a year ago and have reached 4.65 million lats (6.62 million euro). Major sales increases were achieved in Tajikistan by 342%, Latvia by 319%, Georgia by 142%, Russia by 57%, Ukraine and Moldova, each by 34%. During March 2012 some significant shipments were made to Taiwan. Biggest sales markets of AS “Olainfarm” during March 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and Taiwan.

March 2012 consolidated results	Changes to March 2011	Share in total sales
Russia	57%	38%
Ukraine	34%	18%
Latvia	319%	17%
Belarus	-25%	6%
Kazakhstan	23%	4%
Taiwan	NA	3%
Uzbekistan	-17%	2%
Georgia	142%	2%
Moldova	34%	1%
Tajikistan	342%	1%
Other	-11%	4%
Total	65%	100%

Preliminary consolidates sales of AS “Olainfarm” for three months of 2012 are 12.03 million lats (17.11 million euro), which represents an increase by 47% compared to the same period a year ago. Most rapid sales increases during these three months were experienced in USA, where sales grew 267 times, Taiwan – 13 times, Latvia, more than 4 times, Georgia, more than 3 times, and Ukraine, where sales grew by 81%. Major sales markets of AS “Olainfarm” during three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

3 months of 2012 consolidated results	Changes to 3 months of 2011	Share in total sales
Russia	40%	37%
Ukraine	81%	23%
Latvia	317%	18%
Belarus	-40%	5%
Kazakhstan	74%	4%
UK	0%	3%
Taiwan	1280%	1%
USA	26639%	1%
Moldova	-4%	1%
Georgia	218%	1%
Other	-42%	5%
Total	47%	100%

Sales of pharmacies owned by AS “Olainfarm” in March 2012 were 0.57 million lats (0.81 million euro). During three months pharmacies of AS “Olainfarm” have made sales worth 1.6 million lats (2.3 million euro).

According to unconsolidated preliminary sales results of AS “Olainfarm”, sales made during March of 2012 were 3.85 million lats (5.48 million euro). This represents an increase by 37% compared to March 2011. Major sales increases were achieved in Tajikistan by 342%, Georgia by 142%, Russia by 57%, Ukraine and Moldova, each by 34%. During March 2012 some significant shipments were made to Taiwan. Biggest sales markets of AS “Olainfarm” during March 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and Taiwan.

March 2012, unconsolidated results	Changes to March 2011	Share in total sales
Russia	57%	45%
Ukraine	34%	22%
Belarus	-25%	7%
Latvia	27%	6%
Kazakhstan	23%	5%
Taiwan	NA	3%
Uzbekistan	-17%	2%
Georgia	142%	2%
Moldova	34%	1%
Tajikistan	342%	1%
Other	-11%	4%
Total	37%	100%

During three months of 2012 according to preliminary results unconsolidated sales of “Olainfarm” were 10.48 million lats (14.91 million euro) – which represents an increase by 28%, compared to the same period a year ago. Most rapid sales increases during these three months were experienced in USA, where sales grew 267 times, Taiwan – 13 times, Georgia, more than 3 times, and Ukraine, where sales grew by 81% and Kazakhstan, where sales grew by 74% . Major sales markets of AS “Olainfarm” during three months of 2012 were Russia, Ukraine, Latvia, Belarus, Kazakhstan and the UK.

3 months of 2012 unconsolidated results	Changes to 3 months of 2011	Share in total sales
Russia	40%	42%
Ukraine	81%	27%
Belarus	-40%	6%
Latvia	22%	6%
Kazakhstan	74%	4%
UK	0%	4%
Taiwan	1280%	2%
USA	26639%	1%
Moldova	-4%	1%
Georgia	218%	1%
Other	-42%	6%
Total	28%	100%

Sales forecasts of AS „Olainfarm” for 2012.gada provide that unconsolidated sales of the company will reach 40 million lats (56.91 million euro), while consolidated sales will reach 47 million lats (66.9 million euro) According to these preliminary unconsolidated sales figures, during three months of 2012, 26.2% of annual target for unconsolidated sales are reached. According to these preliminary consolidated figures, during three months 25.6% of annual target for consolidated sales are reached. A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia. Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm

Name of securities: JSC „Olainfarm” public issue of shares
ISIN code: LV0000100501
Paid fixed capital: 14 085 078 LVL
Date of the Annual General Meeting: April 27th, 2012, on 11:00
Place of the meeting: in Olaine, Rupnicu street 5.

Draft resolutions of the Annual General Meeting of Shareholders:

1. Report of the Board on results of operations in 2011.
Draft resolution:
To take notice of the Report of the Board on results of operations in 2011.

2. Report of the Council on results of operations in 2011.
Draft resolution:
To take notice of the Report of the Council on results of operations in 2011.

3. Report of the Auditing Committee.
Draft resolution:
To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2011.
Draft resolution:
To approve the Audited Annual Report of JSC „Olainfarm” for 2011.

5. Approval of the Audited Consolidated Annual Report for 2011.
Draft resolution:
To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2011.

6. Distribution of profit of 2011.
Draft resolution:
To use part of the profit of JSC “Olainfarm” in amount of 867 793.50 lats (1234758,91 euro) to pay dividends to shareholders of JSC „Olainfarm”, (ISIN code of the shares LV0000100501) paying 6.16 santims per one share, but part of the profit in amount of 6 074 554.50 lats (8 643 312.36 euro) to reinvest in development of JSC “Olainfarm”.
Set August 3rd, 2012, as a record date for dividends.

7. Report of the Board on budget and on planned operations in 2012.
Draft resolution:
To take notice of Report of the Board on budget and on planned operations in 2012, which include Company’s unconsolidated turnover forecast for 2012 in amount of 40 million lats (56.91 million Euro), and JSC „Olainfarm” consolidated turnover forecast for 2012 in amount of 47.00 million lats (66.9 million Euro); Forecast of unconsolidated profit of JSC “Olainfarm” is 8.3 million lats (11.81 million Euro), but consolidated profit is 8.6 million lats (12.24 million Euro).

8. Election of the Certified Auditor for 2012.
Draft resolutions:
8.1. to elect SIA „Ernst & Young Baltic” (license No.17, unitary registration No. 40003593454) to be the certified auditor of JSC „Olainfarm” in 2012.
8.2. to set the total remuneration of certified auditor in accordance with the approved budget.

9. Election of the Auditing Committee.
Draft resolutions:
9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.
9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats.

10. Draft resolutions:
10.1. to elect the Council of JSC “Olainfarm” consisting of the following members for the further term of five years, setting that this terms commences on April 28th, 2012:
Name, surname, personal details:
1. _____________ ______________ ____________;
2. _____________ ______________ ____________;
3. _____________ ______________ ____________;
4. _____________ ______________ ____________;
5. _____________ ______________ ____________.

10.2. To set the total monthly remuneration of all the Supervisory Council in the amount of _____________.

Election of the members of the Council and resolution on the remuneration of the members of the Council shall be made in accordance with offers of the shareholders.

In Olaine, on April 13th, 2012.
Information prepared by:
Salvis Lapins
JSC “Olainfarm”
Member of the Management Board
Rupnicu iela 5, Olaine
Latvia, LV 2114
Phone: +371 6 7013 717
Fax: +371 6 7013 777
e-mail: Salvis.Lapins@olainfarm.lv

As of today, April 12, 2012, bank Finasta will become a liquidity provider for JSC Olainfarm shares that are listed on NASDAQ OMX Baltic Main List. Olainfarm is the only listed company in Latvia for which shares the market making is provided.

Bank Finasta, in the capacity of market maker for Olainfarm, has committed itself to maintain a specified price on the buy and sell side during trading hours. Finasta will maintain the demand and supply for Olainfarm shares at total value of LVL 2000 with a maximum spread between the demand and supply price of 4%. Consequently, the company investors and shareholders will be able to buy or sell shares at small quantities with less influence on the price.

“Supported by NASDAQ OMX and Finasta, we give extra assurance to our existing and potential investors. This is one more step by Olainfarm towards high quality investor relations. Both our present shareholders and potential investors will benefit from the liquidity provided to our listed shares,” believes Salvis Lapiņš, a JSC Olainfarm” Member of the Board.

Market making is a common practice to promote trading. Currently Orion Securities and now also Finasta are liquidity providers in the Baltic market. Now four Baltic listed companies have market makers: Olainfarm, City Service, Grigiskes, Vilkyškiu pienine and market making is provided also for the OMX Baltic Benchmark Fund units.

„Liquidity providing is not a common practice in the Baltic stock exchanges, and this is why we see here an opportunity to promote this financial service. Bank Finasta is actively expanding the range of services it is providing, thereby trying to find the most appropriate financial service for each individual client. Also, we are willing to make our contribution towards the development of NASDAQ OMX Baltic securities market,” explains Andrej Cyba, a Finasta Member of the Board, Director of Finance Markets division

„The fact that after the economic downturn both listed companies and stock exchange members are starting to pay more attention to liquidity is an evidence of market stability and positive sentiment in general. We hope that other listed companies and stock exchange members will follow the example demonstrated by Finasta and Olainfarm,” adds Daiga Auziņa-Melalksne, Head of Exchange Services, NASDAQ OMX Baltic Market.

Already for several years Olainfarm has been working towards enhancing the investor relations quality. At present Olainfarm is the only Latvian company traded on NASDAQ OMX Baltic market that is publishing the current monthly sales data, conducting investor webinars on a regular basis, and now also is the only Latvian listed company to have a market maker.

About JSC „Olainfarm”
JSC Olainfarm is one of the largest companies in the Baltic States with 40 years of experience in production of medicinal and chemical pharmaceutical products. The key principle of the Company is manufacturing of reliable and effective high quality products for Latvia and the rest of world. Products of JSC Olainfarm are exported to more than 30 countries, including the Baltic States, Russia, other CIS countries, Scandinavian, Western European and Asian countries, as well as North America and Australia.

About NASDAQ OMX Group
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade – from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to traffic more than 1 million messages per second at sub-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges in 50 developed and emerging countries into the future, powering 1 in 10 of the world’s securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)

About Finasta bank
Finasta is the largest investment bank in the Baltic region by assets under management and the number of private banking clients. Established in 2008 the bank Finasta specialises in investment and private banking services. The bank provides a package of investment, financial management and corporate finance services to private and corporate clients and offers tailor-made corporate lending solutions.
The bank has over 11,000 clients with their investment assets worth EUR 385 million. Finasta bank is one of the largest brokerage service providers in the Baltic region.

More information:
Salvis Lapiņš
JSC „Olainfarm“ Management Board Member
mob. phone +37126448873
e-mail: slapinsh@olainfarm.lv

Andrej Cyba
Bank Finasta
Member of the Board, Director of Finance Markets division
phone: +370 5 2361856
e-mail: Andrej.Cyba@Finasta.com

NASDAQ OMX Baltic Market Services
phone: +371 67212431

Management Board of the Joint Stock company “Olainfarm” (registration number. 40003007246, registered address: Rupnicu iela 5, Olaine, LV-2114) announces that the Annual General Meeting of JSC “Olainfarm” Shareholders will be convened on April 27, 2012 at 11:00 at the premises of JSC „Olainfarm” in Olaine, Rupnicu iela 5.

Agenda:
1. Report of the Management Board about the results of operations in 2011.
2. Report of the Council about the results of operations in 2011.
3. Report of the Auditing Committee.
4. Approval of the audited Annual Report of 2011.
5. Approval of the audited consolidated Annual Report of 2011.
6. Distribution of profit of 2011.
7. Report of the Management Board about the budget and operational plan for 2012.
8. Elections of the sworn auditor for 2012 and setting of the remuneration for the sworn auditor.
9. Elections of the Auditing Committee and setting of the remuneration of the Auditing Committee.
10. Election of the Council.
11. Other issues.

Registration of the shareholders will take place on the day of the meeting, i.e. April 27, 2012 from 10:00 until 10:45 on the venue.

Total number of shares and the total number of the voting shares of JSC „Olainfarm is 14 085 078.

Date of the record for participation of the shareholders in the Annual General Meeting of shareholders of JSC „Olainfarm” is April 19th, 2012. Only those who are the shareholders at the date of record have the right to participate in the Annual General Meeting of shareholders on April 27, 2012, with the number of shares held by them at the date of record.

Shareholders may participate in the Annual General Meeting of shareholders either in person or represented through a proxy:
- When registering the shareholders must present either the passport or other identification document;
- When registering the representatives of the shareholders must present the passport of other identification document, submit a written power of attorney by the represented shareholder (the form of the power of attorney is available at JSC “Olainfarm” web-site http://www.olainfarm.lv, web-site of the system of Central Storage of Regulated Information http://www.oricgs.lv; and web-site of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com) or the legal representative has to present a document confirming the authority.

Shareholders have the following rights:

- shareholders that represent at least 1/20 of the capital of the company have the right to within 7 days after the announcement is published to request the Management Board of JSC „Olainfarm” to include additional items in the agenda. Shareholders that request inclusion of additional items in the agenda of the Annual General Meeting of shareholders must submit to the Management Board of JSC „Olainfarm” draft decisions about the issues to be included in the agenda upon their request or explanations about the item, if no decision is planned;

- within 7 days after the publishing of this announcement, submit draft decisions about the items of agenda. Should all submitted draft decisions be reviewed and declined, shareholders may submit their proposed draft decisions during the Annual General Meeting of Shareholders itself;

- should the shareholder submit an inquiry at least 7 days before the Annual General Meeting of shareholders, the Management Board shall at least 3 days before the Annual General Meeting of shareholders provide the requested information about the items included in the agenda. It is a duty of the Management Board to upon the request of the shareholder provide information about the economic situation of the company to the extent necessary for objective decision-making of the particular item on the agenda.

Shareholders may see the draft resolutions of the Annual general Meeting of Shareholders from April 13, 2012 until April 26, 2012 on working days from 09:00 until 16:00 in Olaine, Rupnicu iela 5, in the Legal division of JSC „Olainfarm”, if scheduled in advance through telephone + 371 6 7013 870 or on the web page of JSC „Olainfarm” http://www.olainfarm.lv, but on the day of the Annual General Meeting – at the registration desk.

Information about the Annual General Meeting and rights of the shareholders is also available at web page of JSC „Olainfarm” http://www.olainfarm.lv, the system of Central Storage of Regulated Information http://www.oricgs.lv and the web page of JSC „NASDAQ OMX Riga” http://www.nasdaqomxbaltic.com.

Management Board of the JSC „Olainfarm”

Preliminary consolidated sales figures of AS “Olainfarm” for February 2012 show that sales have grown by 60% compared to the same period a year ago and have reached 4.02 million lats (5.72 million euros). The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

Consolidated sales: February 2012	Share in total sales	Changes to February 2011
Russia	33%	24%
Ukraine	22%	129%
Latvia	18%	263%
UK	10%	NA
Kazakhstan	6%	NA
Belarus	5%	-43%
Moldova	2%	13%
Lithuania	1%	27%
Georgia	1%	1801%
USA	1%	4910%
Other	2%	-77%
Total	100%	60%

During two months of 2012 preliminary consolidated sales of AS “Olainfarm” were 7.62 million lats (10.84 million euros), which represents an increase by 42% compared to the respective period of 2011. The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled. Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

Consolidated sales: 2 months of 2012	Share in total sales	Changes to two months of 2011
Russia	35%	31%
Ukraine	26%	113%
Latvia	18%	316%
UK	5%	0%
Belarus	5%	-47%
Kazakhstan	3%	179%
USA	2%	26639%
Lithuania	1%	-17%
Moldova	1%	-19%
Taiwan	1%	259%
Other	4%	-58%
Total	100%	42%

Sales of pharmacies owned by AS “Olainfarm” during February were 0.5 million lats (0.71 million euros). During two months of 2012 sales of pharmacies were 1.02 million lats (1.45 million euros). According to unconsolidated sales figures of AS “Olainfarm”, sales during February were 3.54 million lats (5.04 million euros). This represents an increase by 41% compared to the same period a year ago. The biggest sales increases were achieved in USA, where sales grew 50 times, sales to Georgia grew 19 times, to Latvia nearly fourfold, sales to Ukraine more than doubled, sales to Lithuania grew by 27% and to Russia by 24%. The major sales markets of AS “Olainfarm” during February 2012 were Russia, Ukraine, Latvia, the UK, Kazakhstan and Belarus.

Unconsolidated sales: February 2012	Share in total sales	Changes to February 2011
Russia	38%	24%
Ukraine	25%	129%
UK	11%	NA
Latvia	6%	16%
Kazakhstan	6%	NA
Belarus	6%	-43%
Moldova	2%	13%
Lithuania	2%	27%
Georgia	1%	1801%
USA	1%	4910%
Other	2%	-77%
Total		41%

During two months of 2012, according to preliminary unconsolidated figures, the sales of AS “Olainfarm” were 6.63 million lats (9.43 million euros), which is an increase by 24% compared to the respective period of 2011. The most rapid sales increases were experienced in the USA, where sales have increased 267 times, to Latvia, where sales grew fourfold, Taiwan, almost fourfold, Kazakhstan, nearly threefold, and Ukraine, where sales more than doubled. Major sales markets of AS “Olainfarm” during first two months of 2012 were Russia, Ukraine, Latvia, the UK, Belarus, Kazakhstan and the USA.

Unconsolidated sales: a 2 months of 2012	Share in total sales	Changes to 2 months of 2012
Russia	40%	31%
Ukraine	30%	113%
Latvia	6%	19%
UK	6%	0%
Belarus	6%	-47%
Kazakhstan	3%	179%
USA	2%	26639%
Lithuania	1%	-17%
Moldova	1%	-19%
Taiwan	1%	259%
Other	4%	-58%
Total	100%	24%

Although no forecasts of AS “Olainfarm” are formally approved, for planning purposes the Board of the Company is using forecasts according to which the unconsolidated sales of the company in 2012 will reach 40.6 million lats (57.8 million euro), which represents an increase by 12% compared to sales made during 2011. According to these preliminary unconsolidated sales figures, during two months of 2012, 16.33% of sales forecasts for the year 2012 are already met. AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by: Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

On March 6 AS „Olainfarm” organized its fourth quarter 2011 Investor Conference Online Webinar for investors. During the webinar the member of the management board of AS „Olainfarm” Salvis Lapiņš analysed the financial results of fourth quarter and 12 months of 2011 and informed about the company’s plans for 2012.

According to Salvis Lapiņš, this year in dividends it is planned to pay out 10-15% of company’s profit of 2011, if it will be approved by Olainfarm’s shareholders in the next annual general meeting.

During the webinar, Salvis Lapiņš also informed that the company is moving forward with the liquidity provider program and it is planned to launch the market making of company’s shares in April 2012.

In relation to acquisition of pharmacies, Salvis Lapiņš revealed that the total sum spent on the acquisition reached 4.5 million LVL, from which 80% was bank’s financing, while the rest 20% was covered by Olainfarm. It is planned that during 2012 total sales of all pharmacies will reach 7 million lats.

Answering the question about the economical sanctions against Belarus and their possible impact on the company, Salvis Lapiņš informed that it is unlikely that sanctions will also include the embargo of medicine import, therefore Olainfarm most probably won’t be directly affected by them.

The recorded Olainfarm webinar is available online: http://ej.uz/OLFQ42011ieraksts, and the presentation is available here:
https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=494258&messageId=605711.

Olainfarm thanks all participants, who joined the webinar, and encourages everybody to follow company’s announcements to get information on the next webinar!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

On March 6 AS „Olainfarm” will hold the second webinar, during which unaudited results of 4th quarter and the entire 2011 will be presented, outlines for 2012 will be disclosed and questions of the audience will be answered. Presentation of the webinar is available in the enclosed attachment.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Presentation

Information prepared by:
Salvis Lapins 
Member of the Board
AS Olainfarm 
Cell: +371 26448873 
e-mail: Salvis.Lapins@olainfarm.lv

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its fourth quarter 2011 investor conference webinar scheduled on March 6, 2012 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar Salvis Lapiņš will inform about AS “Olainfarm” non-audited financial results of the year 2011 and analyse company’s activities and financial indicators of the fourth quarter 2011 and first results of 2012.

After the presentation investors will be welcomed to ask questions. Due to the limited webinar time, please send in your questions in advance till March 5 to e-mail: ieva.kadakovska@nasdaqomx.com.

What is webinar?
Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

How to join the webinar?
To join the webinar, please go to the site http://ej.uz/OLFQ4vebinars on March 6, 2012 at 16:00, choose „Enter as a guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

Additional information on the webinar
All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.
You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins 
Member of the Board
AS Olainfarm 
Cell: +371 26448873 
e-mail: Salvis.Lapins@olainfarm.lv

Consolidated financial accounts of AS „Olainfarm” for 2010 show that the Company has set yet another record in profits by making the net profit of 6.8 million lats (9.7 million euros). This represents nearly 93% increase compared to the net profit of 2010, when AS “Olainfarm” made the net profit of 3.53 million lats (5.02 million euros).

Unaudited profit and loss statement of AS „Olainfarm” for 2011 shows that the company made sales of 36.71 million lats (52.24 million euros). Concern’s after tax profit during this period was 6 833 082 lats (9 722 600 euros). In 2010 AS “Olainfarm” made net profit of 3 539 451 lats (5 036 185 euros).

“Last year we started to build our retail pharmacy network in Latvia, and this year we are going to expand it. We are going to continue establishing our position as a steadily growing manufacturer of high-quality pharmaceuticals. Forty years of production experience helps us to create pharmaceuticals that will be the flagship in the particular product range. The skill of acquiring new markets while consolidating the existing markets, which has been developed during recent years, is going to help promote the sales volume growth,” announced Valerijs Maligins, Olainfarm’s Chairman of the Board.
During 2011 sales have grown in all main sales markets of the company, except in Georgia, where, compared to 2010, the sales were by 20% smaller. In other markets growth rate varied from 17% in Russia to 1710% in The Netherlands. Even in Belarus, which faced several local currency difficulties during 2011 and experienced several devaluations, AS “Olainfarm” managed to increase its sales by more than 25%. Main sales markets of AS “Olainfarm” during 2011 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and United Kingdom.

During 2011 39 registration cases of products of AS “Olainfarm” were completed and 4 products were registered in system of the WHO. Among others, registration of Olvazol® capsules in Ukraine is still waiting its completion.

Annual General Meeting of Shareholders of „Olainfarm” held on April 29, 2011 approved the operating plan of the company. According to it, the forecast sales of the Concern for 2011 were 29.4 million lats (41.8 million Euro), but the net profit is forecast at 5.1 million lats (7.3 million Euro). On November 16, 2011 Board of the Company decided to increase annual sales and profit targets of the Company. The new sales target was set at 35 million lats (49.8 million euros) while the new profit target was set at 6.3 million lats (8.96 million euros). According to this unaudited report during 2011 105% of revised sales targets and108% of revised profit targets are met.

During 2011 changes have been made to the composition of the Concern and now it consists from Parent company AS “Olainfarm”, its daughter companies SIA “Ozols JRD”, whose main activity will be to organize sports and active leisure activities in the town of Olaine, as well as daughter company “Olainfarm Enerģija”, which will produce and sell electric energy, using cogeneration technologies. Also during the 4th quarter of 2011 travel agency „First Class Lounge” and pharmaceutical retail companies SIA „Ilmas Aptiekas”, SIA Juko 99”, SIA „Veritas Farm”, SIA „Inula Farma”, SIA „Vita Plus” un AS „Lege Artis Rīga”, were purchased. Shares in SIA „Reinolds” were alienated.
AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins 
Member of the Board
AS Olainfarm 
Cell: +371 26448873 
e-mail: Salvis.Lapins@olainfarm.lv

Today, on February 29, 2012, AS “Olainfarm” was visited by Minister of Health Ingrida Circene and together with Chairman of Olainfarm’s Board Mr. Valerijs Maligins opened an extended Centre of Chromatography. Minister also visited the unit of final dosage forms and saw other recent improvements in the company.

“”Olainfarm” has proven that with effective and high quality operations one can achieve stable economic development, despite any financial crises. This is also a good example for other Latvian companies,” Ingrida Circene shared her impressions.

Centre of Chromatography is a structural unit of Quality Management department, conducting analytical testing with methods or instrumental chromatography, developing and validating new testing methods. It also performs chromatographic analyses, quality control of medicines, active pharmaceutical ingredients and chemical products, both for finished and in progress products.

Centre of Chromatography was initially opened in January of 2007. In order to increase its capacity, at the end of 2011 extension of premised took place and new laboratory furniture and equipment was purchased. This modernisation resulted in doubling of space and creation of 12 new workplaces. New equipment will increase productivity of laboratory and its capacity for scientific work and introduction of new medicines.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary data on consolidated sales of AS “Olainfarm” during January of 2012, shows that sales have increased by 35% compared to the similar period one year ago and have reached 3.52 million lats (5 million euros). Biggest sales increases were achieved in Latvia (by 389%), Taiwan (by 259%), Ukraine (by 88%), and Russia (by 49%). Major sales markets of AS “Olainfarm” during January were Russia, Ukraine, Latvia, Belarus and the USA.

Consolidated sales, January 2012

	Share in total sales	Increase to January 2011
Russia	38%	49%
Ukraine	28%	88%
Latvia	19%	389%
Belarus	5%	-51%
USA	3%	NA
Taiwan	1%	259%
Bulgaria	1%	-54%
Spain	1%	NA
Azerbaijan	1%	7%
Kyrgyzstan	1%	NA
Other	2%	-87%
Total	100%	35%

Sales made by pharmacies owned by AS “Olainfarm” in January 2012 were 0.52 million lats (0.74 million euro).

Thus, according to preliminary unconsolidated sales figures of AS “Olainfarm” for January of 2012, unconsolidated sales made during January were 3.02 million lats (4.29 million euro), which represents an increase by 16% compared to unconsolidated sales made in January 2011. Biggest sales increases were achieved in Taiwan (by 259%), Ukraine (by 88%), Russia (by 49%), Latvia (by 25%). According to unconsolidated sales, the major sales markets of AS “Olainfarm” in January 2012 were Russia, Ukraine, Belarus, Latvia and the USA.

Unconsolidated sales in January 2012

	Share in total sales	Increase to January 2011
Russia	44%	49%
Ukraine	33%	88%
Belarus	6%	-51%
Latvia	6%	25%
USA	4%	NA
Taiwan	2%	259%
Bulgaria	1%	-54%
Spain	1%	NA
Azerbaijan	1%	7%
Kyrgyzstan	1%	NA
Other	2%	-87%
Total	100%	16%

Although no forecasts of AS “Olainfarm” are formally approved, for planning purposes the Board of the Company is using forecasts according to which the unconsolidated sales of the company in 2012 will reach 40.6 million lats (57.8 million euro), which represents an increase by 12% compared to sales made during 2011. According to these preliminary unconsolidated sales figures, during January 2012, 7.4% of sales forecasts for the year 2012 are already met.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

In order to finance recent purchases of pharmacies AS “Olainfarm” has taken a loan of 4.2 million lats (6 million euros) from AS „SEB Banka”. These funds were used to purchase 100% shares in companies „Ilmas Aptiekas”, „Inula Farma”, “Juko 99″, “Lege Artis Rīga” and “Veritas Farm”. A commercial pledge worth 6.32 million lats was taken by the bank in order to secure the said loan. AS “Olainfarm” currently owns 30 pharmaceutical retail points of sale in Riga, its agglomeration, Vidzeme, Kurzeme and Latgale. Companeis purchased by Olainfarm also own 3 licenses for pharmaceutical retail. AS “Olainfarm” plans to manage 40 pharmacies all over Latvia before the middle of 2012.

In November AS “Olainfarm” purchased 100% shares in SIA “Ilmas aptiekas” and SIA “Juko99”. These companies combined own 18 pharmaceutical points of sales in Riga, its agglomeration, Vidzeme and Kurzeme. In December AS “Olainfarm” purchased four more companies thus adding 12 more pharmacies.

Intentions of AS “Olainfarm” to create its chain of pharmacies were announced in May 2010. Plans of “Olainfarm” provide that total sales of pharmacies already purchased will reach 7 million lats (10 million euros).

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary results of AS “Olainfarm” for December 2011 show that during this period sales have increased by 27% compared to the same period a year ago and have reached 2.66 million lats (3.78 million euros). The biggest sales increase was achieved in Georgia where sales have increased nearly 9 times, in Lithuania where sales increased almost sevenfold, Ukraine where sales increased by 31% and Belarus where sales increased by 21%. The major sales markets of AS “Olainfarm” in December 2011 were Russia, Ukraine, the UK, Lithuania, Kazakhstan and Latvia.

December 2011	Share in total sales	Changes to December 2010
Russia	45,7%	6%
Ukraine	13,0%	31%
UK	7,2%	NA
Lithuania	5,9%	565%
Kazakhstan	5,2%	-32%
Latvia	4,9%	3%
Belarus	3,7%	21%
Uzbekistan	3,7%	94%
Georgia	3,6%	791%
USA	3,0%	NA
Other	4,1%	-40%
Total	100,0%	27%

During twelve months of 2011 preliminary sales of AS “Olainfarm” were 36.27 million lats (51.60 million euros) – which represents an increase by 45% compared to twelve months of 2010. The most rapid sales increases were achieved in the Netherlands, where sales have increased 18 times, in Ukraine, by 132%, Lithuania by 53%, the UK by 47% and Latvia, where sales increased by 33%. Major sales markets of AS “Olainfarm” during twelve months of 2011 were Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

2011	Share in total sales	Changes to 2010
Russia	38,4%	17%
Ukraine	25,8%	132%
Belarus	8,0%	25%
Latvia	6,0%	33%
Kazakhstan	4,9%	30%
UK	3,3%	47%
The Netherlands	1,9%	1710%
Uzbekistan	1,6%	29%
Lithuania	1,4%	53%
Georgia	1,2%	-21%
Other	7,5%	71%
Total	100,0%	45%

On November 16, 2011 Management Board of AS “Olainfarm” revised sales and profit forecast for 2011, and set the new sales forecast for 2011 at 35 million lats (49.8 million euros), and the new profit forecast at 6.3 million lats (8.96 million euro). According to these preliminary sales figures, during twelve months of 2011 104% of revised annual sales target were met.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Question: There was a twofold increase of loans to management and employees over Q3 2011 to LVL 1.3 million: what are the major terms and conditions of those loans – interest rate, collateral, term etc?

Answer: Many of the loans referred to here are loans to employees for conditions similar to those that company gets from its bank. The biggest share of the loans is to Mr. Maligins, however, Mr. Maligins has also lent significant amounts to the company but because they were subordinated to the bank loan, it was not possible to offset them. Recently the bank has allowed us to offset these loans against each other and as of the end of 2011 loan to Mr. Maligins is fully settled.

Question: Purchases of property, plant and equipment in 9 months 2011 amounted to LVL 2.2 million. The question is: what are the main items in which investments were made?

Answer: The main items are: equipment and machinery (mainly analytical) 0.7 million lats, advanced payments for fixed assets and construction 0.7 million lats (as this is cash flow you are referring to), other fixed assets 0.2 million lats, costs of registration 0.16 million lats.

Question: According to the cash flow statement, proceeds from issue of shares was a negative LVL 352K in 9 months 2011: did the company buy own shares and if it did for what purpose?

Answer: Unfortunately there has been a misrecord in our books. In fact these are the dividends we paid and should have been booked respectively. Thanks for pointing this out to us, and for a year-end report this will be booked correctly.

Question: What are the basic commercial terms based on which “marketing expense” is formed, in which markets and to which companies it is paid?

Answer: Our approach towards the marketing expenses differs from country to country. In some countries (Belarus, Latvia, Tajikistan) we have our own representative office conducting marketing activities. In Russia, Ukraine, Kazakhstan, Uzbekistan, Azerbaijan and Moldova we have outsourced marketing services from a regional or local pharma marketing companies. For these countries we have selected products that must be promoted and fee for marketing is calculated as percentage of sales of promoted products in given countries. This percentage is between 30 and 40 depending on a product and country. Yet, in another countries (Georgia, and Ukraine until recently) we ourselves do not have any marketing costs, but instead we sell our products with a certain discount and that discount is then used by our partner to cover the marketing costs.

Question: What is the total investment in Olainfarm Energija, who is the owner of the other 50% share and when is the energy production expected to begin (also, what is the expected Olainfarm own consumption / external sales ratio of the produced energy)?

Answer: The total planned investment in Olainfarm Energija is 2 million euros. Owner of other 50% of this company is Mr Girts Stelbovics, an energy sector professional, not related to Olainfarm in any way. The energy production is expected to begin in 2nd quarter of 2013. Olainfarm will purchase all the heat produced by the new company, and because of new technologies used in heat production, it is expected that the cost of heat will be by about 10% lower than what current Olainfarm heat costs are. In parallel with the heat, the new company will also produce electric energy, and 100% of that will be sold to Latvenergo, national power company.

Question: Any M&A deals planned to strengthen the product portfolio?

Answer: No, at the moment there are no M&A deals under way that I could tell about, however, as we have noted several times before, Olainfarm remains open for M&A opportunities to strengthen its product portfolio and enter new markets.

Question: Is Mr Lapins planning to increase or reduce number of shares in Olainfarm that he owns?

Answer: I strongly believe that due to many reasons not related to Olainfarm, company’s shares are significantly undervalued at the moment, so I am more likely to buy more shares than sell any of existing.

Todau, on January 10, 2012 Chairman of the Board of AS „Olainfarm” Valerijs Maligins received the „Cooperation Partner 2011” Award from Chairman of the Free Trade Union Confederation of Latvia Mr. Peteris Krigers. The Award in form of a acorn along with the Diploma of Appreciation was awarded celebrating the successful cooperation between the company and the trade union. AS “Olainfarm” was nominated for the award by the Latvian Industrial Trade unions.

“We do support our employees and are being tough in defending their social, economic, labour and job safety interests. The team of more than 800 people and its intelectual potential, that helps us develop production of high quality exportable products is our majos asset,” says Valerijs Maligins, Chairman of the Board of AS „Olainfarm”.

AS „Olainfarm” constantly provides opportunity for its personnel to attend different traaining courses and seminars, including on an international level, to raise their professional qualifications. The Company creates new jobs, good working conditions, stable remuneration and cares about recreation possibilities of its people on sporting and other corporate events. During 2011 number of employees of AS “Olainfarm” has increased by 90.

AS „Olainfarm” also cares about creating comfortable working conditions for its employees, therefore an ongoing modernizing of workshops and laboratories is taking place. At the end of 2011 reconstruction of changing rooms, cantene and conference facilities were completed.

Six years ago AS “Olainfarm” already received „Cooperation Partner 2005” Award from the Free Trade Union Confederation of Latvia.

In December AS “Olainfarm” has negotiated the purchase of four pharmacy retailer companies, thus acquiring 12 points of pharmaceuticals sales. As a result, currently the company has 30 pharmacies in their possession, located in Riga, agglomeration of Riga, Vidzeme, Kurzeme and Latgale. The pharmaceuticals retailers, purchased by AS “Olainfarm”, also have additional 3 pharmacy licenses. By the middle of next year AS “Olainfarm” is planning to manage 40 pharmacies.

“Experience shows that distribution of medicines in Latvia is particularly successful if you have a direct access to the customer. Our future plans include managing 40 points of pharmaceuticals sales by the middle of the next year. Lately, we have made some significant investments to come closer to this goal. Furthermore, we continue to look for and evaluate further network expansion opportunities,” announced Valerijs Maligins, Olainfarm’s Chairman of the Board.

In November, 100% of shares of SIA “Ilmas aptiekas” and SIA “Juko 99” were purchased by AS “Olainfarm”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme.

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products as well as the products of other producers will be available to customers at more friendly prices. Also, the top-level pharmaceutical care will be available to the chain clients, as acquired pharmacies employ many high-level experienced professionals. AS “Olainfarm” announced that no significant changes are planned either to the number or to the composition of the staff.

AS “Olainfarm” plans to establish a pharmacy chain have been announced as early as in May 2010. AS “Olainfarm” is expecting that the turnover of newly purchased pharmacies will reach 7 millions LVL (9.96 millions Euro) in 2011. AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Preliminary sales results of AS “Olainfarm” for November show that sales have increased by 71% compared to the same period a year ago and have reached 3.68 million lats (5.24 million euro). The biggest sales increases were achieved in Bulgaria, where sales increased 24 times, Georgia, where sales increased 17 times, Kazakhstan, where they grew by 194%, Belarus by 122%, Ukraine by 111% and Azerbaijan by 89%. The major sales markets of AS “Olainfarm” in November 2011 were Russia, Ukraine, Belarus, Kazakhstan and Latvia. During November 2011 significant shipments were also made to the USA.

November 2011	Share in total sales	Changes to November 2010
Russia	39%	46%
Ukraine	29%	111%
Belarus	10%	122%
Kazakhstan	7%	194%
Latvia	5%	-6%
USA	2%	NA
Bulgaria	2%	2283%
UK	1%	-10%
Azerbaijan	1%	89%
Georgia	1%	1569%
Other	3%	-19%
Total	100%	71%

Preliminary sales of AS “Olainfarm” during 11 months of 2011 were 33.61 million lats (47.82 million euro), which represents an increase by 45% compared to the same period of 2010. The most rapid sales increases were experienced in the Netherlands, where during 11 months of this year sales increased 18 times, Ukraine, where they increased by 139%, Latvia by 35%, Kazakhstan by 32%, Belarus by 25% and The UK, where sales grew by 23%. Major sales markets of AS “Olainfarm” during 11 months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

11 months of 2011	Share in total sales	Changes to 11 months of 2010
Russia	38%	18%
Ukraine	27%	139%
Belarus	8%	25%
Latvia	6%	35%
Kazakhstan	5%	32%
UK	3%	23%
The Netherlands	2%	1710%
Uzbekistan	1%	21%
Georgia	1%	-36%
Lithuania	1%	13%
Other	8%	68%
Total	100%	45%

On November 16, 2011 Management Board of AS “Olainfarm” revised sales and profit forecast for 2011, and set the new sales forecast for 2011 at 35 million lats (49.8 million euros), and the new profit forecast at 6.3 million lats (8.96 million euro). According to these preliminary sales figures, during eleven months of 2011 96% of revised annual sales target were met.

AS „Olainfarm“ ir viens no lielākajiem uzņēmumiem Baltijas valstīs ar gandrīz 40 gadu pieredzi medikamentu un ķīmiski farmaceitisko produktu ražošanā. Kompānijas darbības pamatprincips ir ražot uzticamus un efektīvus augstākās kvalitātes produktus Latvijaiun visai pasaulei. Šobrīd AS „Olainfarm“ produkcija tiek eksportēta uz vairāk nekā 30 pasaules valstīm, tostarp Baltijas valstīm, Krieviju, citām NVS valstīm, Eiropu, Ziemeļameriku, Āzijas valstīm un Austrāliju.

Papildu informācija:

Salvis Lapiņš

AS „Olainfarm“ valdes loceklis

mob. tālr. +37126448873

e-pasts: slapinsh@olainfarm.lv

Today in Third Quarter 2011 Investor Conference Webinar the member of the management board Salvis Lapiņš presented analysis of third quarter financial results and announced AS “Olainfarm” expansion plans:

an agreement has been reached with one of the company’s multinational partners about increasment of the purchases from AS “Olainfarm” in 2012 by 67% or more than one million euro;
cooperation agreements are established, which provides that AS “Olainfarm” will become the distributor and marketing partner of a large European pharmaceutical manufacturer. In Latvia and Belarus AS “Olainfarm” will distribute in total 23 products of the partner. The first realization is expected at the end of 2012;
currently AS “Olainfarm” budget proposal is being discussed, which foresees non-consolidated sales growth by 12% in 2012;
it is planned that in 2012 one of the Baltic Exchange members will ensure AS “Olainfarm” stock liquidity.

Results for the first 9 months of 2011 show that sales of AS “Olainfarm” have grown by nearly 40% compared to the same period a year ago and have reached 26.3 million LVL (37.4 million EUR). Sales made during first 9 months of this year already exceed the sales made during the entire 2010 by more than one million lats.

Increase in sales directly influenced company’s profits, which during the third quarter of 2011 reached the best level so far of 1.8 million LVL (2.6 million EUR). The profit of the first 9 month period was 5 million LVL (7.1 million EUR).

On November 16, 2011 Board of the Company decided to increase annual sales and profit targets of the Company. The new sales target was set at 35 million LVL (49.8 million EUR) while the new profit target was set at 6.3 million LVL (8.96 million EUR). According to this unaudited report during 9 months of 2011 75% of revised sales targets and 80% of revised profit targets are met during 3 quarters of 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Webinar presentation

Information prepared by:
Salvis Lapins
Member of the Board
AS Olainfarm
Cell: +371 26448873
e-mail: Salvis.Lapins@olainfarm.lv

Turnover in 2011 – 52,2 millions Euro;
Post-tax profit in 2011 – 9,7 millions Euro;
Number of company employees – 912 (on January 1, 2013);
Major export markets – Russia, Ukraine, Belorussia, Kazakhstan;
Exports volume in 2010 – 33 millions Euro;
Farthest export market for JSC OlainFarm – Australia;
In total, for all markets, JSC OlainFarm produces around 60 types of medicine and around 30 pharmaceutical agents;
Representatives of the JSC OlainFarm are present in 10 countries;
Only 5-10% of the total JSC OlainFarm products are realized on the Latvian market.

Joint Stock Company „OlainFarm” is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products.

The company was established in 1972 as a state enterprise „Olaine Chemical-pharmaceutical Plant”. The main objective of the company’s establishment was to supply all Soviet Union plants manufacturing finished drug forms with pharmaceutical substances and intermediates.

At present JSC ‘”OlainFarm” is one of the leading representatives of the pharmaceutical sector in Latvia and Baltic States, which employs almost 900 highly qualified professionals. The company is provided with the modern international practice technologies and certified in accordance with the requirements of the European Union Good manufacturing practice (GMP), USA inspection standards (FDA), Environmental management standard ISO 14001:2004

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2011 investor conference webinar scheduled on December 8, 2011 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiņš. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of third quarter financial results will be discussed.

After the presentation investors will be welcomed to ask questions.

Due to the limited webinar time, please send in your questions in advance till December 7 to e-mail: ieva.kadakovska@nasdaqomx.com.

AS „Olainfarm” is the first company on NASDAQ OMX Baltic exchanges to communicate with investors via interactive webinar platform, offering real-time interaction between investors and the company.

WHAT IS WEBINAR?

Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

HOW TO JOIN THE WEBINAR?

To join the webinar, please go to the site http://ej.uz/olainfarm on December 8, 2011 at 16:00, choose „Enter as guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

ADDITIONAL INFORMATION ON THE WEBINAR

All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.

You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

AS „Olainfarm” invites shareholders, investors, mass media representatives and other stakeholders to join its third quarter 2011 investor conference webinar scheduled on December 8, 2011 at 16:00 (EET).

Webinar will be hosted by the member of the management board Salvis Lapiтр. The presentation will be in English.

During the webinar topics in relation to AS “Olainfarm” expansion plans and analysis of third quarter financial results will be discussed.

After the presentation investors will be welcomed to ask questions.

Due to the limited webinar time, please send in your questions in advance till December 7 to e-mail: ieva.kadakovska@nasdaqomx.com.

AS „Olainfarm” is the first company on NASDAQ OMX Baltic exchanges to communicate with investors via interactive webinar platform, offering real-time interaction between investors and the company.

WHAT IS WEBINAR?

Webinar is a virtual conference, during which company’s representative gives information about the company and its future plans. Webinar allows interactive communication and a possibility to ask questions and get answers directly from the company.

HOW TO JOIN THE WEBINAR?

To join the webinar, please go to the site http://ej.uz/olainfarm on December 8, 2011 at 16:00, choose „Enter as guest”, type in your name, surname and click „enter”. You will be then directed to the webinar screen. Prior registration is not necessary.

ADDITIONAL INFORMATION ON THE WEBINAR

All you need to have is a computer with internet connection and headphones. No additional installations of special programs are necessary.

You will be able to ask questions in writing or just listen to the host of webinar.

Join the webinar and be the first one to hear the news!

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

At its meeting held on November 24th, 2011, the Supervisory council of AS “Olainfarm” elected its Chairperson and Deputy Chairperson. Mrs. Valentina Andrejeva was unanimously elected to be the new Chairperson of Supervisory Council of AS „Olainfarm” and Mrs Elena Dudko was unanimously elected to be the new deputy Chairperson of Supervisory Council of AS „Olainfarm”

In Olaine, November 25th, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

At its meeting held on November 24th, 2011, the Supervisory council of AS “Olainfarm” elected its Chairperson and Deputy Chairperson. Mrs. Valentina Andrejeva was unanimously elected to be the new Chairperson of Supervisory Council of AS „Olainfarm” and Mrs Elena Dudko was unanimously elected to be the new deputy Chairperson of Supervisory Council of AS „Olainfarm”

In Olaine, November 25th, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

Management Board of AS “Olainfarm” today decided to raise the profit and sales forecast of the company for 2011. Revised budget and operating plan of AS “Olainfarm” for 2011 provides that the company will have sales worth 35 million lats (49.8 million euros) and will make the net profit of 6.3 million lats (8.96 million euros). Sales forecast has been increased by about 19%, while the profit forecast was increased by 24%. This revised forecast has been prepared basing upon unconsolidated figures of AS “Olainfarm” and does not include any impact that will be left by pharmacies that will be purchased before the end of the year.

Previous version of budget and operating plan of AS “Olainfarm” for 2011 provided that sales of the company in 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to preliminary sales results for 10 months of 2011, during this 10 months period AS “Olainfarm” has by nearly 2% outperformed its sales forecast for entire 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Management Board of AS “Olainfarm” today decided to raise the profit and sales forecast of the company for 2011. Revised budget and operating plan of AS “Olainfarm” for 2011 provides that the company will have sales worth 35 million lats (49.8 million euros) and will make the net profit of 6.3 million lats (8.96 million euros). Sales forecast has been increased by about 19%, while the profit forecast was increased by 24%. This revised forecast has been prepared basing upon unconsolidated figures of AS “Olainfarm” and does not include any impact that will be left by pharmacies that will be purchased before the end of the year.

Previous version of budget and operating plan of AS “Olainfarm” for 2011 provided that sales of the company in 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to preliminary sales results for 10 months of 2011, during this 10 months period AS “Olainfarm” has by nearly 2% outperformed its sales forecast for entire 2011.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Preliminary results of AS “Olainfarm” for October show that the sales have increased by 47% compared to the October of 2010 and have reached 3.21 million lats (4.56 million euros). The most rapid sales increases were experienced in the USA, where sales grew 607 times, the UK, which showed increase in sales of 138 times, Ukraine and Belarus by 51% and Latvia by 30%. The major sales markets of AS “Olainfarm” in October 2011 were Russia, Ukraine, Belarus, The Netherlands, Latvia and the UK. During October 2011 significant shipments were also made to the USA and Switzerland.

October 2011

Share in total sales

Changes to October 2010

Russia

37%

14%

Ukraine

19%

51%

Belarus

9%

51%

The Netherlands

8%

NA

Latvia

7%

30%

UK

6%

13654%

Kazakhstan

4%

1%

USA

2%

60607%

Georgia

2%

-3%

Switzerland

1%

NA

Others

5%

-22%

Total

100%

47%

During 10 months of 2011 sales of AS “Olainfarm” reached 29.93 million lats (42.59 million euros), which represents an increase by 42% to the respective period a year ago. The fastest sales increase was seen in Canada, where during ten months of this year sales grew 51 times, sales to The Netherlands grew 18 times, to Ukraine by 143%, to Latvia by 42%, to the UK by 25% and to Uzbekistan by 21%. Major sales markets of AS “Olainfarm” during ten months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

10 months of 2011

Share in total sales

Changes to 10 months of 2010

Russia

38%

15%

Ukraine

27%

143%

Belarus

8%

18%

Latvia

6%

42%

Kazakhstan

5%

18%

UK

3%

25%

The Netherlands

2%

1710%

Uzbekistan

2%

21%

Canada

1%

5016%

Georgia

1%

-42%

Others

8%

37%

Total

100%

42%

Budget and operating plan of AS “Olainfarm” for 2011 provides that sales of the company during 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to these preliminary sales results during ten months of this year the company has by nearly 2% exceeded its annual sales forecast, therefore the Management Board of the company plans to increase the sales and profit forecasts for 2011. New sales and profit forecasts will be published on November 16, 2011 after the end of the trading session.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Preliminary results of AS “Olainfarm” for October show that the sales have increased by 47% compared to the October of 2010 and have reached 3.21 million lats (4.56 million euros). The most rapid sales increases were experienced in the USA, where sales grew 607 times, the UK, which showed increase in sales of 138 times, Ukraine and Belarus by 51% and Latvia by 30%. The major sales markets of AS “Olainfarm” in October 2011 were Russia, Ukraine, Belarus, The Netherlands, Latvia and the UK. During October 2011 significant shipments were also made to the USA and Switzerland.

October 2011

Share in total sales

Changes to October 2010

Russia

37%

14%

Ukraine

19%

51%

Belarus

9%

51%

The Netherlands

8%

NA

Latvia

7%

30%

UK

6%

13654%

Kazakhstan

4%

1%

USA

2%

60607%

Georgia

2%

-3%

Switzerland

1%

NA

Others

5%

-22%

Total

100%

47%

During 10 months of 2011 sales of AS “Olainfarm” reached 29.93 million lats (42.59 million euros), which represents an increase by 42% to the respective period a year ago. The fastest sales increase was seen in Canada, where during ten months of this year sales grew 51 times, sales to The Netherlands grew 18 times, to Ukraine by 143%, to Latvia by 42%, to the UK by 25% and to Uzbekistan by 21%. Major sales markets of AS “Olainfarm” during ten months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

10 months of 2011

Share in total sales

Changes to 10 months of 2010

Russia

38%

15%

Ukraine

27%

143%

Belarus

8%

18%

Latvia

6%

42%

Kazakhstan

5%

18%

UK

3%

25%

The Netherlands

2%

1710%

Uzbekistan

2%

21%

Canada

1%

5016%

Georgia

1%

-42%

Others

8%

37%

Total

100%

42%

Budget and operating plan of AS “Olainfarm” for 2011 provides that sales of the company during 2011 will reach 29.4 million lats (41.8 million euros), while the net profit will reach 5.1 million lats (7.3 million euros). According to these preliminary sales results during ten months of this year the company has by nearly 2% exceeded its annual sales forecast, therefore the Management Board of the company plans to increase the sales and profit forecasts for 2011. New sales and profit forecasts will be published on November 16, 2011 after the end of the trading session.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Name of securities: Public shares of JSC „Olainfarm”

ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.

1. Elections of the Supervisory Council.

To elect the Supervisory Council of AS “Olainfarm” for the period of five years, starting November 11, 2011 consisting of following members: Elena Dudko; Aleksandrs Raicis; Signe Baldere-Sildedze; Volodymyr Kryvozubov; Valentina Andrejeva.

The following number of votes were cast for each candidate:

E.Dudko – 2,948,167 votes, or 27.43% of votes present;

A.Raicis – 1,954,008 votes, or 18.18% of votes present;

S.Baldere-Sildedze – 1,954,838 votes, or 18.19% of votes present;

V.Kryvozubov – 1,953,968 votes, or 18.18% of votes present;

V.Andrejeva – 1,937,635 votes, or 18.02% of votes present.

To set the total monthly remuneration for members of the Supervisory Council to be not more than 6000 LVL (8537 EUR).

Voting: the decision was adopted unanimously.

Olaine, November 11, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

Name of securities: Public shares of JSC „Olainfarm”

ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.

1. Elections of the Supervisory Council.

To elect the Supervisory Council of AS “Olainfarm” for the period of five years, starting November 11, 2011 consisting of following members: Elena Dudko; Aleksandrs Raicis; Signe Baldere-Sildedze; Volodymyr Kryvozubov; Valentina Andrejeva.

The following number of votes were cast for each candidate:

E.Dudko – 2,948,167 votes, or 27.43% of votes present;

A.Raicis – 1,954,008 votes, or 18.18% of votes present;

S.Baldere-Sildedze – 1,954,838 votes, or 18.19% of votes present;

V.Kryvozubov – 1,953,968 votes, or 18.18% of votes present;

V.Andrejeva – 1,937,635 votes, or 18.02% of votes present.

To set the total monthly remuneration for members of the Supervisory Council to be not more than 6000 LVL (8537 EUR).

Voting: the decision was adopted unanimously.

Olaine, November 11, 2011

Information prepared by:

Salvis Lapins

AS Olainfarm

Member of the Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Tel: +371 6 7013 717

Fax: +371 6 7013 777

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west).

“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales,” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.

AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro).

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west).

“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales,” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.

AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro).

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west). With this transaction AS “Olainfarm” has also indirectly become an owner of 50% of shares in pharmaceutical wholesale company SIA “Farm Impeks” owned by SIA „Ilmas Aptiekas”. Total value of the transation remains confidential and will not be disclosed until the first stage of acquisitions is completed.

“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales, but by the middle of the next year we might be managing about 40 pharmacies” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.

AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro). In future AS “Olainfarm” may also get involved into e-pharmacy business.

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff. Mr. Ilmars Pajuste, former co-owner of SIA “Ilmas Aptiekas” will remain as the Chairman of the management board of the pharmacy chain.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Today during the press conference Chairman of the Management Board of AS “Olainfarm” Mr. Valerijs Maligins announced that AS “Olainfarm” has purchased 100% of shares in SIA “Ilmas aptiekas” and SIA “Juko 99”. These companies combined own 18 points of pharmaceutical sales in Riga, agglomeration of Riga, Vidzeme (north-east) and Kurzeme (west). With this transaction AS “Olainfarm” has also indirectly become an owner of 50% of shares in pharmaceutical wholesale company SIA “Farm Impeks” owned by SIA „Ilmas Aptiekas”. Total value of the transation remains confidential and will not be disclosed until the first stage of acquisitions is completed.

“This is just a beginning of Olainfarm’s operations in pharmaceutical retail business in Latvia. Development, production and distribution of top quality medication remain our priority, but experience shows that distribution of medicines in Latvia is particularly successful once you have a direct access to customers. We think that this business is attractive enough to continue investing in it. Our very near future plans include expanding the pharmacy network to 30 points of sales, but by the middle of the next year we might be managing about 40 pharmacies” said Valerijs Maligins, Chairman of Olainfarm’s Management Board.

AS “Olainfarm” announced its intentions to create a pharmacy chain in May 2010. According to plans of AS “Olainfarm” the sales in 2011 of chains already purchased will be in the area of 4 million lats (5.7 million euro). In future AS “Olainfarm” may also get involved into e-pharmacy business.

As a direct owner of pharmacy chain, AS “Olainfarm” will be able to ensure that its products and products of other producers will be available to customers for more friendly prices. Also, the top level pharmaceutical care will be available to clients, as very many top level professionals are working in the pharmacy chain: 72% of all employees have respective university degree. AS “Olainfarm” does not plan any significant changes either to number of composition of staff. Mr. Ilmars Pajuste, former co-owner of SIA “Ilmas Aptiekas” will remain as the Chairman of the management board of the pharmacy chain.

The first pharmacy was opened by SIA “Ilmas aptieka” in autumn of 1994 in the premises of „Veselibas Centrs 4” on Krisjana Barona iela 115 in Riga. During the last 17 years network of SIA “Ilmas aptieka” has increased to 17 points of sales in Riga, agglomeration of Riga, Vidzeme and Kurzeme. SIA “Juko 99” owns one pharmacy in Riga.

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

AS Olainfarm

Cell: +371 26448873

Name of the securities: JSC „Olainfarm” publicly traded shares

ISIN code: LV000100501

Paid in capital: 14 085 078 LVL

Date of the extraordinary shareholders meeting:November 11th, 2011, at 11:00a.m.

Place of the meeting: Rupnicu iela 5, Olaine, Latvia.

Draft decisions of the Extraordinatry shareholders meeting of JSC „Olainfarm” to be held on November 11th, 2011:

1. Elections of the Supervisory Council

Draft decision:

1.1. Elect the Supervisory Council of JSC “Olainfarm” consisting of the following members for the five year term, setting that this terms commences at November 11^th, 2011:

Name, surname, personal details:

1. Elena Dudko, Date of birth ___________________,

2. Aleksandrs Raicis, personal code ______________ ____________,

3. Signe Baldere-Sildedze, Date of birth ___________________,

4. Volodymyr Kryvozubov, Date of birth ___________________,

5. Valentina Andrejeva, personal code ______________ ____________.

1.2. To set the total monthly remuneration of all the Supervisory Council in the amount not exceeding Ls 6000,00.

Olaine, October 27th, 2011.

Information prepared by:

Salvis Lapins

Olainfarm

Member of the Management Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Phone: +371 6 7013 717

Fax: +371 6 7013 777

Name of the securities: JSC „Olainfarm” publicly traded shares

ISIN code: LV000100501

Paid in capital: 14 085 078 LVL

Date of the extraordinary shareholders meeting:November 11th, 2011, at 11:00a.m.

Place of the meeting: Rupnicu iela 5, Olaine, Latvia.

Draft decisions of the Extraordinatry shareholders meeting of JSC „Olainfarm” to be held on November 11th, 2011:

1. Elections of the Supervisory Council

Draft decision:

1.1. Elect the Supervisory Council of JSC “Olainfarm” consisting of the following members for the five year term, setting that this terms commences at November 11^th, 2011:

Name, surname, personal details:

1. Elena Dudko, Date of birth ___________________,

2. Aleksandrs Raicis, personal code ______________ ____________,

3. Signe Baldere-Sildedze, Date of birth ___________________,

4. Volodymyr Kryvozubov, Date of birth ___________________,

5. Valentina Andrejeva, personal code ______________ ____________.

1.2. To set the total monthly remuneration of all the Supervisory Council in the amount not exceeding Ls 6000,00.

Olaine, October 27th, 2011.

Information prepared by:

Salvis Lapins

Olainfarm

Member of the Management Board

Rupnicu iela 5, Olaine

Latvia, LV 2114

Phone: +371 6 7013 717

Fax: +371 6 7013 777

Preliminary sales results of AS “Olainfarm” for September 2011 show that sales have increased by 102% compared to the same period last year and have reached 3.71 million lats (5.28 million euro). The most rapid sales increase has been experienced in Canada, where sales have increased 442 times, in Ukraine they increased nearly 4 times, in Belarus, a country heavily hit by its currency crisis, the sales have grown by 71%, in Russia by 63%. Main sale markets of AS “Olainfarm” during September 2011 were Ukraine, Russia, Belarus and Latvia.

September 2011

% of total sales

Changes to September 2010

Ukraine

43%

293%

Russia

27%

63%

Belarus

9%

71%

Latvia

6%

19%

Georgia

3%

-20%

Kazakhstan

3%

-15%

The Netherlands

2%

NA

India

2%

NA

Canada

2%

44156%

USA

1%

NA

Other

2%

-53%

Total

100%

102%

During nine months of 2011, according to preliminary results, the sales of AS “Olainfarm” were 26.72 million lats (38.02 million euro), which represents an increase by 42% compared to the same period of 2010 and is already by nearly 7% more than sales made during the entire year of 2010. During 2010 sales of “Olainfarm” were 25.02 million lats (35.61 million euro). During 9 months of 2011 the biggest sales increases were achieved in Canada, where sales have grown 51 times, the Netherlands – 11 times, in Ukraine, where sales grew by 156%, in Latvia by 43%, in Kazakhstan and Uzbekistan by 21%, Lithuania by 20%. 15% sales increase has also been achieved in Russia and Belarus. Main sales markets of AS “Olainfarm” during nine months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

9 months of 2011

% of total sales

Changes to 9 months of 2010

Russia

38%

15%

Ukraine

28%

156%

Belarus

8%

15%

Latvia

6%

43%

Kazakhstan

5%

21%

UK

3%

0%

Uzbekistan

2%

21%

The Netherlands

2%

999%

Canada

1%

5016%

Lithuania

1%

20%

Other

7%

15%

Total

100%

42%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 9 months of 2011 the company has made 91% of sales planned for the entire 2011

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: Salvis.Lapins@olainfarm

Preliminary sales results of AS “Olainfarm” for September 2011 show that sales have increased by 102% compared to the same period last year and have reached 3.71 million lats (5.28 million euro). The most rapid sales increase has been experienced in Canada, where sales have increased 442 times, in Ukraine they increased nearly 4 times, in Belarus, a country heavily hit by its currency crisis, the sales have grown by 71%, in Russia by 63%. Main sale markets of AS “Olainfarm” during September 2011 were Ukraine, Russia, Belarus and Latvia.

September 2011

% of total sales

Changes to September 2010

Ukraine

43%

293%

Russia

27%

63%

Belarus

9%

71%

Latvia

6%

19%

Georgia

3%

-20%

Kazakhstan

3%

-15%

The Netherlands

2%

NA

India

2%

NA

Canada

2%

44156%

USA

1%

NA

Other

2%

-53%

Total

100%

102%

During nine months of 2011, according to preliminary results, the sales of AS “Olainfarm” were 26.72 million lats (38.02 million euro), which represents an increase by 42% compared to the same period of 2010 and is already by nearly 7% more than sales made during the entire year of 2010. During 2010 sales of “Olainfarm” were 25.02 million lats (35.61 million euro). During 9 months of 2011 the biggest sales increases were achieved in Canada, where sales have grown 51 times, the Netherlands – 11 times, in Ukraine, where sales grew by 156%, in Latvia by 43%, in Kazakhstan and Uzbekistan by 21%, Lithuania by 20%. 15% sales increase has also been achieved in Russia and Belarus. Main sales markets of AS “Olainfarm” during nine months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

9 months of 2011

% of total sales

Changes to 9 months of 2010

Russia

38%

15%

Ukraine

28%

156%

Belarus

8%

15%

Latvia

6%

43%

Kazakhstan

5%

21%

UK

3%

0%

Uzbekistan

2%

21%

The Netherlands

2%

999%

Canada

1%

5016%

Lithuania

1%

20%

Other

7%

15%

Total

100%

42%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 9 months of 2011 the company has made 91% of sales planned for the entire 2011

AS Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins
Member of the Board
A/s „Olainfarm”
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: Salvis.Lapins@olainfarm

JSC „Olainfarm” hereby informs that on October 6th, 2011 it has received a

notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council, about his resignation from the position of the member of Supervisoy Council by November 11, 2011.

Information prepared by

Salvis Lapins

JSC “Olainfarm”

Member of the Board

tel. +371 6 7013717, + 371 2 6448873

fax. + 371 6 7013777

slapinsh@olainfarm.lv

JSC „Olainfarm” hereby informs that on October 6th, 2011 it has received a

notification from Helmuts Balderis – Sildedzis, Chairman of the Supervisory Council, about his resignation from the position of the member of Supervisoy Council by November 11, 2011.

Information prepared by

Salvis Lapins

JSC “Olainfarm”

Member of the Board

tel. +371 6 7013717, + 371 2 6448873

fax. + 371 6 7013777

slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for August 2011 show that sales during this period were 2,35 million lats (3.34 million euro), which represents a decrease by 14% compared to similar period a year ago. Sales to Kazakhstan have increased 18 times, to Ukraine by 130%, to Lithuania by 43% and in Latvia by 24%. Sales have fallen to Uzbekistan, Russia and Belarus, where during the August of the last year, particularly big shipments were made. Major sales markets of AS “Olainfarm” in August 2011 were Russia, Ukraine, Latvia and Kazakhstan.

% of total sales

Changes to August 2010

Russia

38%

-48%

Ukraine

29%

130%

Latvia

9%

24%

Kazakhstan

7%

1738%

Uzbekistan

4%

-60%

Italy

4%

NA

Belarus

3%

-41%

Canada

2%

NA

Lithuania

1%

43%

Moldova

1%

-4%

Other

2%

-51%

Total

100%

-14%

During eight months of 2011, according to preliminary results, sales of AS “Olainfarm” have reached 23.01 million lats (32.74 million euros) – which is an increase by 35% compared to similar period a year ago. The most significant sales increases were achieved in Canada, where sales grew 43 times, The Netherlands, 9 times, Ukraine by 134%, Latvia by 48%, Lithuania by 37%, Kazakhstan by 26% and Uzbekistan where sales increased by 23%. The major sales markets of AS “Olainfarm” during eight months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

% of total sales

Increase to 8 months of 2010

Russia

39%

11%

Ukraine

25%

134%

Belarus

8%

Latvia

6%

48%

Kazakhstan

5%

26%

UK

3%

0%

Uzbekistan

2%

23%

The Netherlands

1%

807%

Lithuania

1%

37%

Canada

1%

4216%

Other

7%

15%

Total

100%

35%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 8 months of 2011 the company has made 78.2% of sales planned for the entire 2011

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for August 2011 show that sales during this period were 2,35 million lats (3.34 million euro), which represents a decrease by 14% compared to similar period a year ago. Sales to Kazakhstan have increased 18 times, to Ukraine by 130%, to Lithuania by 43% and in Latvia by 24%. Sales have fallen to Uzbekistan, Russia and Belarus, where during the August of the last year, particularly big shipments were made. Major sales markets of AS “Olainfarm” in August 2011 were Russia, Ukraine, Latvia and Kazakhstan.

% of total sales

Changes to August 2010

Russia

38%

-48%

Ukraine

29%

130%

Latvia

9%

24%

Kazakhstan

7%

1738%

Uzbekistan

4%

-60%

Italy

4%

NA

Belarus

3%

-41%

Canada

2%

NA

Lithuania

1%

43%

Moldova

1%

-4%

Other

2%

-51%

Total

100%

-14%

During eight months of 2011, according to preliminary results, sales of AS “Olainfarm” have reached 23.01 million lats (32.74 million euros) – which is an increase by 35% compared to similar period a year ago. The most significant sales increases were achieved in Canada, where sales grew 43 times, The Netherlands, 9 times, Ukraine by 134%, Latvia by 48%, Lithuania by 37%, Kazakhstan by 26% and Uzbekistan where sales increased by 23%. The major sales markets of AS “Olainfarm” during eight months of 2011 were Russia, Ukraine, Belarus, Latvia and Kazakhstan.

% of total sales

Increase to 8 months of 2010

Russia

39%

11%

Ukraine

25%

134%

Belarus

8%

Latvia

6%

48%

Kazakhstan

5%

26%

UK

3%

0%

Uzbekistan

2%

23%

The Netherlands

1%

807%

Lithuania

1%

37%

Canada

1%

4216%

Other

7%

15%

Total

100%

35%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 8 months of 2011 the company has made 78.2% of sales planned for the entire 2011

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

E-mail: slapinsh@olainfarm

District court of Riga today rejected the claim by AS “Grindeks” whereby the nullification of the registration of trade mark „MIDOLAT/МИДОЛАТ” was asked. Therefore AS „Olainfarm” is now free to use the name „MIDOLAT/МИДОЛАТ” in Latvia.

On July 20, 2010, „Grindeks” submitted a claim to court asking to nullify the registration of trade mark MIDOLAT/МИДОЛАТ (in Cyrillic), to discontinue and forbid the use of the textual designations MIDOLAT/МИДОЛАТ by „Olainfarm”, to fully recall from distribution and to destroy all medicines market with textual designations MIDOLAT/МИДОЛАТ. „Olainfarm” was accused of acting in an illegal manner to crease associations with trademarks owned by „Grindeks”. On March 14, an additional claim was submitted to court asking “Olainfarm” to compensate for the damages.

On August 19 2011, a District court of Riga ruled that all these claims are unfounded and rejected them. Latvia is now the second country where this desperate attempt made by “Grindeks” to block the launch of meldonium produced by “Olainfarm” has failed. Although in the interests of “Grindeks” it managed to delay the launch a little, the main party suffering were the patients. In the near future similar claims by “Grindex” against “Rospatent” are scheduled in Moscow.

During the court trial „Olainfarm” submitted the counterclaim about nullification of registration of trademark “Mildronāts”. Counterclaim of “Olainfarm” is founded on the fact that a word “mildronāts” has been historically used and is still being used in an everyday communication as the name for particular medicine and therefore cannot be registered as the trade mark. Although Olainfarm’s counter claim was rejected for the lack of evidence, Olainfarm regards its position as strong enough to appeal against this ruling of District court of Riga to Supreme Court.

It was not Olainfarm’s choice to start the legal procedure and during the entire process we made a number of attempts to prevent this conflict from further escalation, we have expressed our willingness to negotiate and solve the dispute out of court.

„I am very satisfied with this just ruling. Olainfarm has always been acting fairly and honestly respecting ourselves, our partners and competitors. We see the development of new and effective products as our main priority, therefore despite favourable verdict and good prospects for further appeals, we would prefer solving similar situations without unnecessary waste of time in courts,” said V. Maligins, Chairman of Olainfarm’s Management Board.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

District court of Riga today rejected the claim by AS “Grindeks” whereby the nullification of the registration of trade mark „MIDOLAT/МИДОЛАТ” was asked. Therefore AS „Olainfarm” is now free to use the name „MIDOLAT/МИДОЛАТ” in Latvia.

On July 20, 2010, „Grindeks” submitted a claim to court asking to nullify the registration of trade mark MIDOLAT/МИДОЛАТ (in Cyrillic), to discontinue and forbid the use of the textual designations MIDOLAT/МИДОЛАТ by „Olainfarm”, to fully recall from distribution and to destroy all medicines market with textual designations MIDOLAT/МИДОЛАТ. „Olainfarm” was accused of acting in an illegal manner to crease associations with trademarks owned by „Grindeks”. On March 14, an additional claim was submitted to court asking “Olainfarm” to compensate for the damages.

On August 19 2011, a District court of Riga ruled that all these claims are unfounded and rejected them. Latvia is now the second country where this desperate attempt made by “Grindeks” to block the launch of meldonium produced by “Olainfarm” has failed. Although in the interests of “Grindeks” it managed to delay the launch a little, the main party suffering were the patients. In the near future similar claims by “Grindex” against “Rospatent” are scheduled in Moscow.

During the court trial „Olainfarm” submitted the counterclaim about nullification of registration of trademark “Mildronвts”. Counterclaim of “Olainfarm” is founded on the fact that a word “mildronвts” has been historically used and is still being used in an everyday communication as the name for particular medicine and therefore cannot be registered as the trade mark. Although Olainfarm’s counter claim was rejected for the lack of evidence, Olainfarm regards its position as strong enough to appeal against this ruling of District court of Riga to Supreme Court.

It was not Olainfarm’s choice to start the legal procedure and during the entire process we made a number of attempts to prevent this conflict from further escalation, we have expressed our willingness to negotiate and solve the dispute out of court.

„I am very satisfied with this just ruling. Olainfarm has always been acting fairly and honestly respecting ourselves, our partners and competitors. We see the development of new and effective products as our main priority, therefore despite favourable verdict and good prospects for further appeals, we would prefer solving similar situations without unnecessary waste of time in courts,” said V. Maligins, Chairman of Olainfarm’s Management Board.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for July 2011 show that the sales of the company have increased by 54% compared to similar period a year earlier and have reached 2.7 million lats (3.8 million euros). Most rapid increases in sales were experienced in Ukraine, where the sales of July 2011 exceeds that of July 2010 4 times , sales to Moldova have increased by 146%, to Latvia by 92%, Russia by 75%. In July this year the company has started sales to Albania. Major sales markets of AS “Olainfarm” in July 2011 were Russia, Ukraine, Belarus and Latvia.

Market

% of total sales

Changes to July 2010

Russia

43,7%

74,9%

Ukraine

36,6%

300,0%

Belarus

7,2%

-3,1%

Latvia

5,2%

91,7%

Lithuania

1,9%

NA

Kazakhstan

1,4%

-54,3%

Moldova

1,1%

145,5%

Albania

0,9%

NA

Italy

0,7%

NA

Azerbaijan

0,5%

-15,8%

Other

0,9%

-94,7%

Total

100,0%

53,5%

During seven months of 2011 the preliminary sales of AS “Olainfarm” were 20.7 million lats (29.5 million euros) which represents an increase by 45% compared to the similar period last year. The most rapid growth was experienced in Canada, where sales grew by 36 times, The Netherlands by 9 times, Uzbekistan and Ukraine by 134%, Moldova by 85% and Latvia by 53%. Major sales markets of AS “Olainfarm” during 7 months were Russia , Ukraine, Belarus, Latvia, Kazakhstan and the UK.

Market

% of total sales

Change to 7 months of 2010

Russia

39%

28%

Ukraine

25%

134%

Belarus

8%

12%

Latvia

6%

53%

Kazakhstan

5%

8%

UK

4%

0%

Uzbekistan

2%

134%

The Netherlands

2%

807%

Moldova

1%

85%

Canada

1%

3529%

Other

7%

11%

Total

100%

45%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 7 months of 2011 the company has made 70% of sales planned for the entire 2011

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for July 2011 show that the sales of the company have increased by 54% compared to similar period a year earlier and have reached 2.7 million lats (3.8 million euros). Most rapid increases in sales were experienced in Ukraine, where the sales of July 2011 exceeds that of July 2010 4 times , sales to Moldova have increased by 146%, to Latvia by 92%, Russia by 75%. In July this year the company has started sales to Albania. Major sales markets of AS “Olainfarm” in July 2011 were Russia, Ukraine, Belarus and Latvia.

Market

% of total sales

Changes to July 2010

Russia

43,7%

74,9%

Ukraine

36,6%

300,0%

Belarus

7,2%

-3,1%

Latvia

5,2%

91,7%

Lithuania

1,9%

NA

Kazakhstan

1,4%

-54,3%

Moldova

1,1%

145,5%

Albania

0,9%

NA

Italy

0,7%

NA

Azerbaijan

0,5%

-15,8%

Other

0,9%

-94,7%

Total

100,0%

53,5%

During seven months of 2011 the preliminary sales of AS “Olainfarm” were 20.7 million lats (29.5 million euros) which represents an increase by 45% compared to the similar period last year. The most rapid growth was experienced in Canada, where sales grew by 36 times, The Netherlands by 9 times, Uzbekistan and Ukraine by 134%, Moldova by 85% and Latvia by 53%. Major sales markets of AS “Olainfarm” during 7 months were Russia , Ukraine, Belarus, Latvia, Kazakhstan and the UK.

Market

% of total sales

Change to 7 months of 2010

Russia

39%

28%

Ukraine

25%

134%

Belarus

8%

12%

Latvia

6%

53%

Kazakhstan

5%

8%

UK

4%

0%

Uzbekistan

2%

134%

The Netherlands

2%

807%

Moldova

1%

85%

Canada

1%

3529%

Other

7%

11%

Total

100%

45%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro). According to preliminary sales figures published herein, in 7 months of 2011 the company has made 70% of sales planned for the entire 2011

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.

Olaine, July 14, 2011, 2011-07-14 13:21 CEST (GLOBE NEWSWIRE) —

June 2011	% of total sales	% change to June 2010
Russia	49%	98%
Ukraine	14%	19%
The Netherlands	9%	NA
Kazakhstan	7%	-29%
Latvia	6%	5%
Belarus	4%	-60%
Uzbekistan	3%	233%
Georgia	2%	-73%
Switzerland	1%	NA
Spain	1%	11100%
Other	3%	-57%

Total	100%	27%

Preliminary sales of AS “Olainfarm” for six months of 2011 are 17.97 million lats (25.57 million euros), which represents an increase by 43% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 36 fold, The Netherlands, where sales have grown 9 times, Uzbekistan by 134%, Ukraine by 118%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

6 months of 2011	% of total sales	% change to six months of 2010
Russia	39%	22%
Ukraine	23%	118%
Belarus	9%	14%
Latvia	6%	49%
Kazakhstan	5%	14%
UK	4%	100%
Uzbekistan	2%	134%
The Netherlands	2%	807%
Canada	1%	3529%
Lithuania	1%	10%
Other	8%	15%

Total	100%	43%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 61% of sales planned for the entire year were made during the first six months of 2011.

Few shipments made to Ukraine were mistakenly not included in the 6 months sales summary published earlier and that influenced the total sales figures for 6 months, overall sales increase figures, sales increase to Ukraine, Ukraine’s share in total sales and the percentage by which the annual target sales are met.

The Company apologises for any inconveniences.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.

Olaine, July 14, 2011, 2011-07-14 13:21 CEST (GLOBE NEWSWIRE) —

June 2011	% of total sales	% change to June 2010
Russia	49%	98%
Ukraine	14%	19%
The Netherlands	9%	NA
Kazakhstan	7%	-29%
Latvia	6%	5%
Belarus	4%	-60%
Uzbekistan	3%	233%
Georgia	2%	-73%
Switzerland	1%	NA
Spain	1%	11100%
Other	3%	-57%

Total	100%	27%

Preliminary sales of AS “Olainfarm” for six months of 2011 are 17.97 million lats (25.57 million euros), which represents an increase by 43% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 36 fold, The Netherlands, where sales have grown 9 times, Uzbekistan by 134%, Ukraine by 118%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

6 months of 2011	% of total sales	% change to six months of 2010
Russia	39%	22%
Ukraine	23%	118%
Belarus	9%	14%
Latvia	6%	49%
Kazakhstan	5%	14%
UK	4%	100%
Uzbekistan	2%	134%
The Netherlands	2%	807%
Canada	1%	3529%
Lithuania	1%	10%
Other	8%	15%

Total	100%	43%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 61% of sales planned for the entire year were made during the first six months of 2011.

Few shipments made to Ukraine were mistakenly not included in the 6 months sales summary published earlier and that influenced the total sales figures for 6 months, overall sales increase figures, sales increase to Ukraine, Ukraine’s share in total sales and the percentage by which the annual target sales are met.

The Company apologises for any inconveniences.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.

Olaine, 2011-07-13 15:05 CEST (GLOBE NEWSWIRE) —

June 2011	% of total sales	% change to June 2010
Russia	49%	98%
Ukraine	14%	19%
The Netherlands	9%	NA
Kazakhstan	7%	-29%
Latvia	6%	5%
Belarus	4%	-60%
Uzbekistan	3%	233%
Georgia	2%	-73%
Switzerland	1%	NA
Spain	1%	11100%
Other	3%	-57%

Total	100%	27%

Preliminary sales of AS “Olainfarm” for six months of 2011 are 16.42 million lats (23.36 million euros), which represents an increase by 31% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 35 fold, The Netherlands, where sales have grown 8 times, Uzbekistan by 134%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

6 months of 2011	% of total sales	% change to six months of 2010
Russia	42%	22%
Ukraine	16%	32%
Belarus	9%	14%
Latvia	7%	49%
Kazakhstan	6%	14%
UK	5%	100%
Uzbekistan	2%	134%
The Netherlands	2%	807%
Canada	1%	3529%
Lithuania	1%	10%
Other	9%	15%

Total	100%	31%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 56% of sales planned for the entire year were made during the first six months of 2011.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for June 2011 show that sales of the company in June have increased by 27%, compared to this period last year and totalled 3.15 million lats (4.48 million euros). The most rapid sales growth has been experienced in Spain, where sales grew 111 times, in Uzbekistan, where sales grew by 233% and in Russia where sales in up by 98%. The major sales markets of AS “Olainfarm” in June 2011 were Russia, Ukraine, The Netherlands, Kazakhstan and Latvia.

Olaine, 2011-07-13 15:05 CEST (GLOBE NEWSWIRE) —

June 2011	% of total sales	% change to June 2010
Russia	49%	98%
Ukraine	14%	19%
The Netherlands	9%	NA
Kazakhstan	7%	-29%
Latvia	6%	5%
Belarus	4%	-60%
Uzbekistan	3%	233%
Georgia	2%	-73%
Switzerland	1%	NA
Spain	1%	11100%
Other	3%	-57%

Total	100%	27%

Preliminary sales of AS “Olainfarm” for six months of 2011 are 16.42 million lats (23.36 million euros), which represents an increase by 31% compared to first six months of 2010. During the first six months of this year the biggest growth was seen in Canada, where sales have increased 35 fold, The Netherlands, where sales have grown 8 times, Uzbekistan by 134%, UK by 100% and Latvia by 49. The main sales markets of AS “Olainfarm” during first six months of 2011 are Russia, Ukraine, Belarus, Latvia, Kazakhstan and the UK.

6 months of 2011	% of total sales	% change to six months of 2010
Russia	42%	22%
Ukraine	16%	32%
Belarus	9%	14%
Latvia	7%	49%
Kazakhstan	6%	14%
UK	5%	100%
Uzbekistan	2%	134%
The Netherlands	2%	807%
Canada	1%	3529%
Lithuania	1%	10%
Other	9%	15%

Total	100%	31%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million euros) and the net profit of 5.1 million lats (7.3 million Euro). According to these preliminary figures 56% of sales planned for the entire year were made during the first six months of 2011.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for May 2011 show that sales have increased by 52% compared to the same period one year ago and have reached 2.9 million lats (4.13 million euro). The most rapid increase in sales was experienced in Moldova (by 171%), Ukraine (by 168%), Latvia (by 85%) and Georgia where the sales have grown by 58%. The major sales markets of AS “Olainfarm” during May of 2011 were Russia, Ukraine, Latvia, Kazakhstan and Belarus.

May, 2011

% of total sales

% change to May 2010

Russia

35%

-4%

Ukraine

35%

168%

Latvia

7%

85%

Kazakhstan

6%

NA

Belarus

5%

-28%

Uzbekistan

4%

NA

Moldova

3%

171%

Taiwan

1%

NA

Georgia

1%

58%

Lithuania

1%

-54%

Other

2%

-11%

Total

100%

52%

During five months of 2001 preliminary sales of AS “Olainfarm” were 14.22 million lats (20.23 million euro), which represents an increase by 41% compared to similar period of 2010. The fastest growth was seen in Canada, where sales grew by more than 30 times, Moldova by 144%, Uzbekistan (by 118%), Ukraine (by 112%) UK (by 100%) and Latvia, where sales grew by 66%. The major sales markets of AS “Olainfarm” during first five months of 2011 were Russia, Ukraine, Belarus, Latvia and the UK.

5 months of 2011

% of total sales

% change to 5 months of 2010

Russia

38%

9%

Ukraine

23%

112%

Belarus

10%

39%

Latvia

6%

66%

UK

5%

100%

Kazakhstan

4%

25%

Uzbekistan

2%

118%

Lithuania

1%

41%

Canada

1%

3046%

Moldova

1%

144%

Other

7%

26%

Total

100%

41%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for May 2011 show that sales have increased by 52% compared to the same period one year ago and have reached 2.9 million lats (4.13 million euro). The most rapid increase in sales was experienced in Moldova (by 171%), Ukraine (by 168%), Latvia (by 85%) and Georgia where the sales have grown by 58%. The major sales markets of AS “Olainfarm” during May of 2011 were Russia, Ukraine, Latvia, Kazakhstan and Belarus.

May, 2011

% of total sales

% change to May 2010

Russia

35%

-4%

Ukraine

35%

168%

Latvia

7%

85%

Kazakhstan

6%

NA

Belarus

5%

-28%

Uzbekistan

4%

NA

Moldova

3%

171%

Taiwan

1%

NA

Georgia

1%

58%

Lithuania

1%

-54%

Other

2%

-11%

Total

100%

52%

During five months of 2001 preliminary sales of AS “Olainfarm” were 14.22 million lats (20.23 million euro), which represents an increase by 41% compared to similar period of 2010. The fastest growth was seen in Canada, where sales grew by more than 30 times, Moldova by 144%, Uzbekistan (by 118%), Ukraine (by 112%) UK (by 100%) and Latvia, where sales grew by 66%. The major sales markets of AS “Olainfarm” during first five months of 2011 were Russia, Ukraine, Belarus, Latvia and the UK.

5 months of 2011

% of total sales

% change to 5 months of 2010

Russia

38%

9%

Ukraine

23%

112%

Belarus

10%

39%

Latvia

6%

66%

UK

5%

100%

Kazakhstan

4%

25%

Uzbekistan

2%

118%

Lithuania

1%

41%

Canada

1%

3046%

Moldova

1%

144%

Other

7%

26%

Total

100%

41%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Veranika Dubitskaya, who was appointed a new member of the Management Board of AS „Olainfarm” has been working at Representative Office of AS „Olainfarm” since 2005. From 2005 until 2006 she was working there as a Medical Representative, from 2006 until July 2009 she was a Product Manager. From July 2009 until May 2011 she was a Head of Representative Office of AS „Olainfarm” in Belarus.

In 2003 Veranika Dubitskaya graduated Belarus State Medical University.

Veranika Dubitskaya does not own any shares of AS “Olainfarm”

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Veranika Dubitskaya, who was appointed a new member of the Management Board of AS „Olainfarm” has been working at Representative Office of AS „Olainfarm” since 2005. From 2005 until 2006 she was working there as a Medical Representative, from 2006 until July 2009 she was a Product Manager. From July 2009 until May 2011 she was a Head of Representative Office of AS „Olainfarm” in Belarus.

In 2003 Veranika Dubitskaya graduated Belarus State Medical University.

Veranika Dubitskaya does not own any shares of AS “Olainfarm”

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

On May 17, 2011, Supervisory Council of AS „Olainfarm” decided to appoint Ms. Veranika Dubitskaya to be the new member of the Management Board of AS „Olainfarm”. In the Management Board Veranika Dubitskaya will replace Mr Jurijs Kaplinovs, who has submitted his resignation on May 12, 2011.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

On May 17, 2011, Supervisory Council of AS „Olainfarm” decided to appoint Ms. Veranika Dubitskaya to be the new member of the Management Board of AS „Olainfarm”. In the Management Board Veranika Dubitskaya will replace Mr Jurijs Kaplinovs, who has submitted his resignation on May 12, 2011.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for April 2011 show that sales have grown by 65% compared to April 2010 and have reached 3.38 million lats (4.81 million Euro). The most rapid sales growth was achieved in Kazakhstan (by 157%), Azerbaijan (by 153%), Ukraine (by 133%) and Tajikistan (by 126%). The main sales markets of AS “Olainfarm” during April 2011 were Russia, Ukraine, UK, Kazakhstan, Belarus and Latvia.

Olaine, May 11, 2011, 2011-05-12 06:50 CEST (GLOBE NEWSWIRE) —

April, 2011.	% of total sales	% change to April 2010
Russia	37,1%	39%
Ukraine	21,9%	133%
UK	11,3%	NA
Kazakhstan	7,6%	157%
Belarus	6,1%	-38%
Latvia	4,3%	23%
Canada	2,9%	NA
Lithuania	1,6%	NA
Azerbaijan	1,2%	153%
Tajikistan	1,1%	126%
Other	5,0%	-32%

Total	100%	65%

According to preliminary results, during 4 months of 2011 the sales have reached 11.32 million lats (16.11 million Euro), which represents an increase by 39% compared to the first four months of 2010. The biggest sales increases were observed in Canada, where sales have increased more than 30 times, in Bulgaria (by 277%), UK (by 100%), Ukraine (by 95%), Italy (by 89%) and Latvia (by 60%). Major sales markets of AS “Olainfarm” during four months of 2011 were Russia, Ukraine, Belarus, UK and Latvia.

4 months of 2011	% of total sales	% change to 4 months of 2010
Russia	38,3%	12,4%
Ukraine	20,2%	94,5%
Belarus	11,3%	54,2%
UK	6,8%	100,0%
Latvia	5,9%	60,4%
Kazakhstan	3,7%	-13,2%
Canada	1,8%	3045,5%
Uzbekistan	1,7%	30,0%
Italy	1,7%	88,6%
Bulgaria	1,6%	277,1%
Other	7,1%	14,7%

Total	100%	39%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Preliminary sales figures of AS “Olainfarm” for April 2011 show that sales have grown by 65% compared to April 2010 and have reached 3.38 million lats (4.81 million Euro). The most rapid sales growth was achieved in Kazakhstan (by 157%), Azerbaijan (by 153%), Ukraine (by 133%) and Tajikistan (by 126%). The main sales markets of AS “Olainfarm” during April 2011 were Russia, Ukraine, UK, Kazakhstan, Belarus and Latvia.

Olaine, May 11, 2011, 2011-05-12 06:50 CEST (GLOBE NEWSWIRE) —

April, 2011.	% of total sales	% change to April 2010
Russia	37,1%	39%
Ukraine	21,9%	133%
UK	11,3%	NA
Kazakhstan	7,6%	157%
Belarus	6,1%	-38%
Latvia	4,3%	23%
Canada	2,9%	NA
Lithuania	1,6%	NA
Azerbaijan	1,2%	153%
Tajikistan	1,1%	126%
Other	5,0%	-32%

Total	100%	65%

According to preliminary results, during 4 months of 2011 the sales have reached 11.32 million lats (16.11 million Euro), which represents an increase by 39% compared to the first four months of 2010. The biggest sales increases were observed in Canada, where sales have increased more than 30 times, in Bulgaria (by 277%), UK (by 100%), Ukraine (by 95%), Italy (by 89%) and Latvia (by 60%). Major sales markets of AS “Olainfarm” during four months of 2011 were Russia, Ukraine, Belarus, UK and Latvia.

4 months of 2011	% of total sales	% change to 4 months of 2010
Russia	38,3%	12,4%
Ukraine	20,2%	94,5%
Belarus	11,3%	54,2%
UK	6,8%	100,0%
Latvia	5,9%	60,4%
Kazakhstan	3,7%	-13,2%
Canada	1,8%	3045,5%
Uzbekistan	1,7%	30,0%
Italy	1,7%	88,6%
Bulgaria	1,6%	277,1%
Other	7,1%	14,7%

Total	100%	39%

Operating plan and budget of AS “Olainfarm” for 2011 provides that company plans the sales of 29.4 million lats (41.8 million Euro) and the net profit of 5.1 million lats (7.3 million Euro).

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm

Supervisory Council of JSC „Olainfarm” (hereinafter referred to as „the Company”) has reviewed the annual report and consolidated report of the Company prepared by the Management Board as well as the auditor’s statement of 2010. The Supervisory Council has also assessed the financial situation at the Company and operations of the Management Board during 2010 and has prepared this Statement.

The Supervisory Council is very satisfied with financial results of the Company achieved in 2010 and with the work conducted by the Management Board to make further improvements to Company’s financial situation. Sales, profits and margins of the Company continue improving and intensive work at introducing new products and entering new sales markets, the basis is laid for sustainability of this positive trend. Considerable work has been done to reduce different financial risks, improve financing terms, active work has been started to accommodate structural and other resources available to the Company. During just one year several projects have been prepared targeted at more efficient use of energy and human resources. All of the above activities have been conducted by the Management Board with full approval of the Council.

2010 will be remembered not only as yet another year of record sales and profits, but also as the first year when Management Board of the Company proposed the shareholders to pay part of the profit in dividends. Council fully backs this proposal of the Management Board and agrees to the amount of profit to be distributed. The Council fully understands all the challenges that the Company is facing when trying to enter markets that are totally new to the Company and when launching new products, therefore it respects the moderate approach taken to proposed amount of dividends.

When assessing the Company’s sales by countries for last few years, the Council has drawn the attention of Management Board to necessity to take more active steps to reduce the dependency of sales from any single market, although launching of the sales in any new market might require significant financial resources. Council is satisfied with results already achieved with registration of new products in Serbia and Albania and hopes that sales to these countries will begin in the nearest future. The council expects Management Board to continue investing significant effort to ensure that similar results will be achieved in other countries and other regions.

During 2010 the Council of the Company has fulfilled its duties and has supervised the work of the Company according to the legislation and the decisions of Shareholders’ Meetings; it has been reviewing financial reports and supervising the work of Company’s management. 13 Council meeting were held during the reporting period. At the meetings the management reports, planned and actual numbers were reviewed and issues and draft decisions included in the agenda of Shareholders’ were given a prior consideration. Several decisions were taken regarding participation of the Company in projects important for Company, pharmaceutical sector and inhabitants of Olaine. No shortfalls were ascertained in the Management Board’s activities during 2010. In its operations the Management Board has largely been consulting Supervisory Council and has been taking into consideration its suggestions regarding the further growth of the Company .

The Council would like to take this opportunity and thank the Management Board and all the people of Olainfarm for a fruitful work in 2010 and congratulate shareholders of the Company with successful results of the last year.

Chairman of the Council Helmuts Balderis – Sildedzis

         Olaine, April 30, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Supervisory Council of JSC „Olainfarm” (hereinafter referred to as „the Company”) has reviewed the annual report and consolidated report of the Company prepared by the Management Board as well as the auditor’s statement of 2010. The Supervisory Council has also assessed the financial situation at the Company and operations of the Management Board during 2010 and has prepared this Statement.

The Supervisory Council is very satisfied with financial results of the Company achieved in 2010 and with the work conducted by the Management Board to make further improvements to Company’s financial situation. Sales, profits and margins of the Company continue improving and intensive work at introducing new products and entering new sales markets, the basis is laid for sustainability of this positive trend. Considerable work has been done to reduce different financial risks, improve financing terms, active work has been started to accommodate structural and other resources available to the Company. During just one year several projects have been prepared targeted at more efficient use of energy and human resources. All of the above activities have been conducted by the Management Board with full approval of the Council.

2010 will be remembered not only as yet another year of record sales and profits, but also as the first year when Management Board of the Company proposed the shareholders to pay part of the profit in dividends. Council fully backs this proposal of the Management Board and agrees to the amount of profit to be distributed. The Council fully understands all the challenges that the Company is facing when trying to enter markets that are totally new to the Company and when launching new products, therefore it respects the moderate approach taken to proposed amount of dividends.

When assessing the Company’s sales by countries for last few years, the Council has drawn the attention of Management Board to necessity to take more active steps to reduce the dependency of sales from any single market, although launching of the sales in any new market might require significant financial resources. Council is satisfied with results already achieved with registration of new products in Serbia and Albania and hopes that sales to these countries will begin in the nearest future. The council expects Management Board to continue investing significant effort to ensure that similar results will be achieved in other countries and other regions.

During 2010 the Council of the Company has fulfilled its duties and has supervised the work of the Company according to the legislation and the decisions of Shareholders’ Meetings; it has been reviewing financial reports and supervising the work of Company’s management. 13 Council meeting were held during the reporting period. At the meetings the management reports, planned and actual numbers were reviewed and issues and draft decisions included in the agenda of Shareholders’ were given a prior consideration. Several decisions were taken regarding participation of the Company in projects important for Company, pharmaceutical sector and inhabitants of Olaine. No shortfalls were ascertained in the Management Board’s activities during 2010. In its operations the Management Board has largely been consulting Supervisory Council and has been taking into consideration its suggestions regarding the further growth of the Company .

The Council would like to take this opportunity and thank the Management Board and all the people of Olainfarm for a fruitful work in 2010 and congratulate shareholders of the Company with successful results of the last year.

Chairman of the Council Helmuts Balderis – Sildedzis

         Olaine, April 30, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Name of securities: Public shares of JSC „Olainfarm”

ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.

Following documents have been approved at the Annual General Meeting:

1. Report of the Board on results of operations in 2010.

To take notice of the Management Report on results of operations in 2010.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2010

To take notice of the Council Report on results of operations in 2010.

Voting: the resolution was adopted unanimously.

3. Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted unanimously.

4. Approval of the Audited Annual Report for 2010.

To approve the Audited Annual Report for 2010.

Voting: the resolution was adopted unanimously

5. Approval of the Audited Consolidated Annual Report for 2010.

To approve the Audited Consolidated Annual Report for 2010.

Voting: the resolution was adopted unanimously.

6. Division of profit of 2010.

To use the part of profit made by AS “Olainfarm” in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of AS “Olainfarm”, (ISIN code LV0000100501) paying a dividend of 2.5 santims per share, and to reinvest the remaining part of the profit in value of 3 191 542,05 lats (4 541 155,22 Euro) into development of the Company.

To set June 15, 2011 to be the record date for dividends and June 20, 2011 to be the payment date.

Voting: the resolution was adopted with the necessary majority of votes.

7. Report of the Board on budget for 2011 and on planned operations in 2011.

To take notice of Report of the Board on budget for 2011 and on planned

operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats

(41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million

Euros).

Voting: the resolution was adopted unanimously.

8. Election of the Certified Auditor for 2011.

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration

number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011.

Voting: the resolution was adopted unanimously.

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263

Euros), exclusive of VAT.

9. Election of the Auditing Committee.

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

Voting: the resolution was adopted unanimously.

9.2. to set the total monthly remuneration of the members of the Auditing

Committee at 500 lats (711 Euros).

         Olaine, April 29, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Name of securities: Public shares of JSC „Olainfarm”

ISIN code: LV000100501

Paid – in capital: 14 085 078 LVL

Date of the Annual General Meeting: April 29, 2011 at 11:00

Venue: Olaine, Rupnicu iela 5.

Following documents have been approved at the Annual General Meeting:

1. Report of the Board on results of operations in 2010.

To take notice of the Management Report on results of operations in 2010.

Voting: the resolution was adopted unanimously.

2. Report of the Council on results of operations in 2010

To take notice of the Council Report on results of operations in 2010.

Voting: the resolution was adopted unanimously.

3. Report of the Auditing Committee.

To take notice of the Report of the Auditing Committee.

Voting: the resolution was adopted unanimously.

4. Approval of the Audited Annual Report for 2010.

To approve the Audited Annual Report for 2010.

Voting: the resolution was adopted unanimously

5. Approval of the Audited Consolidated Annual Report for 2010.

To approve the Audited Consolidated Annual Report for 2010.

Voting: the resolution was adopted unanimously.

6. Division of profit of 2010.

To use the part of profit made by AS “Olainfarm” in 2010 in value of 352 126,95 lats (501 031,51 Euro) to pay dividends to shareholders of AS “Olainfarm”, (ISIN code LV0000100501) paying a dividend of 2.5 santims per share, and to reinvest the remaining part of the profit in value of 3 191 542,05 lats (4 541 155,22 Euro) into development of the Company.

To set June 15, 2011 to be the record date for dividends and June 20, 2011 to be the payment date.

Voting: the resolution was adopted with the necessary majority of votes.

7. Report of the Board on budget for 2011 and on planned operations in 2011.

To take notice of Report of the Board on budget for 2011 and on planned

operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats

(41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million

Euros).

Voting: the resolution was adopted unanimously.

8. Election of the Certified Auditor for 2011.

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration

number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011.

Voting: the resolution was adopted unanimously.

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263

Euros), exclusive of VAT.

9. Election of the Auditing Committee.

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee.

Voting: the resolution was adopted unanimously.

9.2. to set the total monthly remuneration of the members of the Auditing

Committee at 500 lats (711 Euros).

         Olaine, April 29, 2011
         Information prepared by:
         Salvis Lapins
         JSC Olainfarm
         Member of the Board
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Fax: +371 6 7013 777
         e-mail: slapinsh@olainfarm.lv

Olaine, 2011-04-21 12:56 CEST (GLOBE NEWSWIRE) — We hereby specify draft resolution on Item #6 of the agenda of Annual General Meeting of Shareholders of AS „Olainfarm” scheduled for April 29, 2011:

„ 6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends of 2.5 Latvian santims (3.557 euro cents) per share to shareholders of AS Olainfarm (ISIN Code of shares LV0000100501), and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

To set June 15^th, 2011 to be the record date for dividends”.

Management Board of AS “Olainfarm”

         Information prepared by
         Salvis Lapins
         Member of the Board
         AS “Olainfarm”
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         e-mail: slapinsh@olainfarm.lv

Olaine, 2011-04-21 12:56 CEST (GLOBE NEWSWIRE) — We hereby specify draft resolution on Item #6 of the agenda of Annual General Meeting of Shareholders of AS „Olainfarm” scheduled for April 29, 2011:

„ 6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends of 2.5 Latvian santims (3.557 euro cents) per share to shareholders of AS Olainfarm (ISIN Code of shares LV0000100501), and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

To set June 15^th, 2011 to be the record date for dividends”.

Management Board of AS “Olainfarm”

         Information prepared by
         Salvis Lapins
         Member of the Board
         AS “Olainfarm”
         Rupnicu iela 5, Olaine
         Latvia, LV 2114
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         e-mail: slapinsh@olainfarm.lv

Preliminary sales figures of AS “Olainfarm” for the first quarter of 2011 show the sales increase by 28% compared to similar period a year ago, thus the sales have reached 7.84 million lats (11.6 million euro). The most rapid sales growth has been experienced in Bulgaria – by 350%, Belarus by 117%, Uzbekistan by 87%, Ukraine by 80%, Latvia by 75%, and Italy by 61%. The main sales markets of AS “Olainfarm” during the first quarter of 2011 were Russia, Ukraine, Belarus and Latvia.

Reacting to a call by investors to provide a more frequent information about the development of company’s financial situation during periods between quarterly reports, AS “Olainfarm” will from now on by 15^th date of the following month (or later, if 15^th is a holiday) inform about the preliminary sales figures of the previous month. By similar dates of April, July, October and January AS “Olainfarm” will publish preliminary quarterly sales figures.

Country

% of total sales

Changes compared to similar period a year ago

Russia

39,4%

4,3%

Ukraine

19,7%

80,4%

Belarus

13,6%

116,9%

Latvia

6,7%

75,1%

UK

4,9%

0,00%

Uzbekistan

2,5%

87,3%

Kazakhstan

2,1%

-57,3%

Bulgaria

2,0%

350,1%

Lithuania

1,7%

34,6%

Italy

1,7%

60,8%

Other countries

5,8%

11,5%

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

Preliminary sales figures of AS “Olainfarm” for the first quarter of 2011 show the sales increase by 28% compared to similar period a year ago, thus the sales have reached 7.84 million lats (11.6 million euro). The most rapid sales growth has been experienced in Bulgaria – by 350%, Belarus by 117%, Uzbekistan by 87%, Ukraine by 80%, Latvia by 75%, and Italy by 61%. The main sales markets of AS “Olainfarm” during the first quarter of 2011 were Russia, Ukraine, Belarus and Latvia.

Reacting to a call by investors to provide a more frequent information about the development of company’s financial situation during periods between quarterly reports, AS “Olainfarm” will from now on by 15^th date of the following month (or later, if 15^th is a holiday) inform about the preliminary sales figures of the previous month. By similar dates of April, July, October and January AS “Olainfarm” will publish preliminary quarterly sales figures.

Country

% of total sales

Changes compared to similar period a year ago

Russia

39,4%

4,3%

Ukraine

19,7%

80,4%

Belarus

13,6%

116,9%

Latvia

6,7%

75,1%

UK

4,9%

0,00%

Uzbekistan

2,5%

87,3%

Kazakhstan

2,1%

-57,3%

Bulgaria

2,0%

350,1%

Lithuania

1,7%

34,6%

Italy

1,7%

60,8%

Other countries

5,8%

11,5%

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

1. Report of the Board on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2010.

2. Report of the Council on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2010.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2010.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2010.

5. Approval of the Audited Consolidated Annual Report for 2010.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2010.

6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends to shareholders, and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

7. Report of the Board on budget for 2011 and on planned operations in 2011

Draft resolution:

To take notice of Report of the Board on budget for 2011 and on planned operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats (41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million Euros).

8. Election of the Certified Auditor for 2011.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011;

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263 Euros), exclusive of VAT.

9. Election of the Auditing Committee.

Draft resolutions:

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee;

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats (711 Euros)

10. Upon the request made by shareholder SIA „Olmafarm”, item of the agenda „Elections of the Supervisory Council” previously additionally included in the agenda upon the request of the same shareholder, has been withdrawn from the agenda of the Annual General Meeting of Shareholders of AS „Olainfarm”.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

1. Report of the Board on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Board on results of operations in 2010.

2. Report of the Council on results of operations in 2010.

Draft resolution:

To take notice of the Report of the Council on results of operations in 2010.

3. Report of the Auditing Committee.

Draft resolution:

To take notice of the Report of the Auditing Committee.

4. Approval of the Audited Annual Report for 2010.

Draft resolution:

To approve the Audited Annual Report of JSC „Olainfarm” for 2010.

5. Approval of the Audited Consolidated Annual Report for 2010.

Draft resolution:

To approve the Audited Consolidated Annual Report of JSC „Olainfarm” for 2010.

6. Distribution of net profit of 2010.

Draft resolution:

To use 352 126.95 lats (501 031.51 euros) from the net profit of AS “Olainfarm” of 2010 to pay dividends to shareholders, and to invest the remaining part of the net profit of 2010 in amount of 3 191 542.05 lats (4 541 155.22 euro) in development of the Company.

7. Report of the Board on budget for 2011 and on planned operations in 2011

Draft resolution:

To take notice of Report of the Board on budget for 2011 and on planned operations in 2011, which include Company#ins_quot2#s sales forecast of 29.4 million lats (41.8 million Euros) and profit forecast of 5.1 million lats (7.3 million Euros).

8. Election of the Certified Auditor for 2011.

Draft resolutions:

8.1. to elect SIA „Ernst & Young Baltic” (license No. 17, unified registration number: 40003593454) to be the certified auditor of JSC „Olainfarm” in 2011;

8.2. to set the total remuneration of certified auditor at 29 000 lats (41 263 Euros), exclusive of VAT.

9. Election of the Auditing Committee.

Draft resolutions:

9.1. to elect Zanna Karaseva to be the sole member of the Auditing Committee;

9.2. to set the total monthly remuneration of the members of the Auditing Committee at 500 lats (711 Euros)

10. Upon the request made by shareholder SIA „Olmafarm”, item of the agenda „Elections of the Supervisory Council” previously additionally included in the agenda upon the request of the same shareholder, has been withdrawn from the agenda of the Annual General Meeting of Shareholders of AS „Olainfarm”.

         Information prepared by:
         Salvis Lapins
         Member of the Board
         A/s „Olainfarm”
         Tel: +371 6 7013 717
         Cell: +371 2 6448 873
         E-mail: slapinsh@olainfarm.lv

At the end of March AS „Olainfarm” became the first post-soviet producer of pharmaceuticals to have its product included in the list of prequalified medicines of the World Health Organisation (WHO). Anti-tuberculosis medicine Para amino salicylic acid – sodium salt (PASA) has been included in WHO programme for countries with high incidence of tuberculosis. This means that the company can sell this medication to the relevant programmes of WHO without separate market authorisation for particular countries. Within this programme Olainfarm has already been awarded a first order of received a first order of PASA worth 1.4 million US dollars.

“Being prequalified for this WHO programme is the highest possible appreciation of quality of Olainfarm’s products. It opens new sales market for this anti-tuberculosis medicine. We are glad that the process of assessing production quality of Olainfarm that has lasted for four years has ended with such result, and it has been confirmed that in quality terms we are in the same league with pharmaceutical giants like “GlaxoSmithKline”, “Roche”, “Pfizer” and others”, says Valerijs Maligins, Chairman of Olainfarm’s Board.

AS “Olainfarm” launched PASA in 2001. Since then the company has been delivering this product to special clinical centres in Latvia, Lithuania, Estonia, Ukraine and Belarus. In 2007 AS „Olainfarm” was awarded a contract by authorities of Kazakhstan to supply PASA to national reserves of Kazakhstan. Value of the contract then was 974 000 lats (1,38 million euro).

AS “Olainfarm” is the only European producer of PASA, producing it in a user friendly and comfortable form of sachets for per-oral use. PASA is an anti-tuberculosis medicine with bacteriostatic activity against micro-bacteria of tuberculosis. In combination with other anti-tuberculosis products it is being used for treatment of different forms and localisations of tuberculosis if more traditional treatment methods have proven ineffective.

List of WHO prequalified medicines includes companies from US, UK, Australia, Latvia, Belgium, RSA, France, Italy, India, China, Canada, The Netherlands, Spain, Switzerland, Hungary, Germany and other countries. More detailed information about WHO programmes is available at: http://apps.who.int/prequal/default.htm.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873

At the end of March AS „Olainfarm” became the first post-soviet producer of pharmaceuticals to have its product included in the list of prequalified medicines of the World Health Organisation (WHO). Anti-tuberculosis medicine Para amino salicylic acid – sodium salt (PASA) has been included in WHO programme for countries with high incidence of tuberculosis. This means that the company can sell this medication to the relevant programmes of WHO without separate market authorisation for particular countries. Within this programme Olainfarm has already been awarded a first order of received a first order of PASA worth 1.4 million US dollars.

“Being prequalified for this WHO programme is the highest possible appreciation of quality of Olainfarm’s products. It opens new sales market for this anti-tuberculosis medicine. We are glad that the process of assessing production quality of Olainfarm that has lasted for four years has ended with such result, and it has been confirmed that in quality terms we are in the same league with pharmaceutical giants like “GlaxoSmithKline”, “Roche”, “Pfizer” and others”, says Valerijs Maligins, Chairman of Olainfarm’s Board.

AS “Olainfarm” launched PASA in 2001. Since then the company has been delivering this product to special clinical centres in Latvia, Lithuania, Estonia, Ukraine and Belarus. In 2007 AS „Olainfarm” was awarded a contract by authorities of Kazakhstan to supply PASA to national reserves of Kazakhstan. Value of the contract then was 974 000 lats (1,38 million euro).

AS “Olainfarm” is the only European producer of PASA, producing it in a user friendly and comfortable form of sachets for per-oral use. PASA is an anti-tuberculosis medicine with bacteriostatic activity against micro-bacteria of tuberculosis. In combination with other anti-tuberculosis products it is being used for treatment of different forms and localisations of tuberculosis if more traditional treatment methods have proven ineffective.

List of WHO prequalified medicines includes companies from US, UK, Australia, Latvia, Belgium, RSA, France, Italy, India, China, Canada, The Netherlands, Spain, Switzerland, Hungary, Germany and other countries. More detailed information about WHO programmes is available at: http://apps.who.int/prequal/default.htm.

A/s Olainfarm is one of the biggest pharmaceutical companies in Latvia with nearly 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company#ins_quot2#s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 30 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

Information prepared by:

Salvis Lapins

Member of the Board

A/s „Olainfarm”

Tel: +371 6 7013 717

Cell: +371 2 6448 873