DEAR SHAREHOLDERS

AGENDA:

1. Opening of the General Meeting and election of its bodies
Resolution proposal:
The GM bodies shall be elected and the minute-writer and notary shall be appointed upon the proposal put forward by the convener.

2. Report of the Supervisory Board on the verification of the annual report for the business year 2002, together with the view of the Supervisory Board about the Auditor Report for the business year 2002
The report of the Supervisory Board on the verification of the annual report for the business year 2002, the Supervisory Board’s approval of the Auditor Report for the business year 2002 and the adoption of the annual report for the business year 2002 shall be brought to the notice of the General Meeting.

3. Discussion and adoption of the resolution on the use of the distributable net profit for the business year 2002 and on the approval of the performance of the Board of Management and Supervisory Board
Resolution proposal:
The distributable net profit for the 2002 business year to the amount of SIT 28,027,499,522.84 shall be used for the following purposes:
a) a part of the distributable net profit to the amount of SIT 3,108,226,400.00 is distributed to the shareholders and paid in the following amounts:
– SIT 1,600.00: dividend for Class A and Class B shares,
– SIT 180.00 SIT: preferential dividend for Class B share;
b) a part of the distributable net profit to the amount of SIT 161,498,780.90 used in the profit sharing scheme;
c) a part of the distributable net profit to the amount of SIT 24,757,774,341.94 remains undistributed and a decision on its use will be made in the following business years (retained earnings).
Dividend payments will start within 60 days after the General Meeting at the latest in a way determined by the Board of Management.
The General Meeting shall approve the performance of the Board of Management and of the Supervisory Board for the business year 2002.

4. Discussion and adoption of the resolution on integration of Lek farmacevtska družba d.d., Ljubljana into the company Novartis Pharma Storitve, farmacevtska družba d.o.o., Ljubljana
Resolution proposal:
In accordance with Article 488 of the Commercial Companies Act Lek farmacevtska družba d.d., Ljubljana shall integrate into the company Novartis Pharma Storitve, farmacevtska družba d.o.o., Ljubljana.
The resolution on the integration shall be valid if a consent of the shareholders meeting of Novartis Pharma Storitve d.o.o., Ljubljana is given to it and shall come into effect with the date of its entry in the court register.

5. Discussion and adoption of the resolution on appointing the auditor
Resolution proposal:
The General Meeting shall appoint the auditing company PricewaterhouseCoopers d.o.o., Ljubljana as the auditor for the business year 2003.

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Entitled to participate and vote at the General Meeting are all the shareholders entered in the Book of Shareholders at the Central Clearing Depository Company d.d., Ljubljana, as of 21 July 2003, and those who will confirm their participation at the GM in person, through a representative or a proxy at the headquarters of Lek d.d., during the time from the public announcement of the present Convocation to 28 July 2003 inclusive. Written applications are considered timely if they arrive at the company’s headquarters by 28 July 2003 inclusive.

Upon application, the shareholder who is a legal entity shall enclose a statement from the Court Register or from any other appropriate register of legal entities.

The proxy statement shall be in written form, submitted upon application and kept at the headquarters of the company throughout the duration of the proxy relationship.

The shareholders applied shall receive certificates of participation and voting papers at the headquarters of the company from 21 July 2003 till the session of the GM.

The annual report for the business year 2002 and the report of the Supervisory Board and the materials for each item of the Agenda of the GM shall be available at the headquarters of the company, Ljubljana, Verovškova 57, from 30 June 2003 to 28 July 2003 inclusive, every business day from 11.00 to 13.00. The annual report for the business year 2002 and the report of the Supervisory Board will also be available at our website www.lek.si from 30 June 2003 onwards.

Entitled to dividends, according to the resolution under Item 3 of the Agenda, are the shareholders of Class A and B shares, entered in the Book of Shareholders at the Central Clearing Depository Company, d.d., Ljubljana, as of 4 August 2003.

The hall shall be opened 45 minutes prior to the opening of the session.

Lek Pharmaceuticals d.d., Ljubljana