KAUNO ENERGIJA

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



At the extraordinary meeting of July 28, 2000 of SPAB Kauno Energija

shareholders it was decided to:

1.1 revoke the Supervisory Board before the end of the cadence;

1.2 approve the following persons members of the Supervisory Board:

Karolis Bruderis; Anicetas Ignotas; Kęstutis Mikėnas; Gintaras Palaima; Pranas

Paškevičius; Rimantas Ruzas; Kazimieras Starkevičius;

2 establish subsidiary private companies of SPAB Kauno Energija after

agreements or permits of SPAB Kauno Energija creditors required by laws of the

Republic of Lithuania or concluded agreements of the company are obtained.

SPAB Kauno Energija shall be the only founder and shareholder; the authorised

capital of each subsidiary equals LTL 10 000;

3.1 authorise the Board of SPAB Kauno Energija to approve founding documents

and Articles of Association of the subsidiary private companies and perform

other functions of the founder and shareholder of those companies;

3.2 allow the Board of SPAB Kauno Energija to authorise Director General of the

company or other persons to perform actions related with execution of the

functions specified in item 3.1;

4. grant authorisation to the Board of SPAB Kauno Energija to pass decisions

regarding transfer of long term assets of SPAB Kauno Energija which are not

related to the principal activity of the company and the value of which exceeds

1/20 of the authorised capital of SPAB Kauno Energija and of related

liabilities to the subsidiary private companies after agreements or permits of

SPAB Kauno Energija creditors required by laws of the Republic of Lithuania or

concluded agreements of the company are obtained;

5. annul the status of the public company for special purpose Kauno Energija

and to amend the company’s Articles of Association, accordingly;

6. reduce the authorised capital of SPAB Kauno Energija to LTL 119 388 114 in

order to eliminate the difference between the own and authorised capital which

appeared due to the losses registered in the balance sheet of

SPAB Kauno Energija as of December 31, 1999 after the written notice from the

Ministry of Finance of the Republic of Lithuania is received confirming that

LTL 13 734 371 (difference between the own and the reduced authorised capital)

shall not be considered the sum payable to the shareholders;

7. approve new wording of the company’s Articles of Association.





Lina Semėnaitė

Information specialist

8(22) 72 18 58