KLAIPEDOS BALDAI

MATERIAL EVENT



ADOPTED DECISIONS OF THE REPEATED SHAREHOLDERS’ MEETING



At the repeated shareholders’ meeting, which took place on 14 January 2001,

the following decisions were adopted:

1. to increase the authorised capital of AB Klaipėdos Baldai by additional

contributions to LTL 11,735,224.00 by issuing 3,568,912.00 ordinary registered

shares at par value of LTL 1 (one); issue price is LTL 1.5 per share; payment

for shares is in cash; shares are offered privately by selling all newly issues

shares to Žilvinas Marcinkevičius. Share offering begins on the eleventh day

after the registration of the new share issue with the LSC and continues for

6 months. The offering is deemed over when all shares are subscribed for.

2. To amend Articles of Association due to the increase of the authorised

capital and to establish that the authorised capital of AB Klaipėdos Baldai

equals LTL 11,735,224 and it is divided into 11,735,224 ordinary registered

shares.

3. Not to grant the pre-emptive right to all shareholders of AB Klaipėdos

Baldai to acquire the newly issued shares of AB Klaipėdos Baldai.

4. Not to dismiss the Supervisory Board of AB Klaipėdos Baldai consisting of

Ona Nortkienė, Regina Sajienė, and Rimas Varanauskas.

5. To elect Valdas Bernatavičius, representative of AB Koncernas SBA, member of

the Supervisory Board in order to replace Ona Nortkienė, who had resigned from

the Supervisory Board.

6. To approve decisions of the Board to take a loan from Nordic Environment

Finance Corporation not exceeding EUR 196,000, to take a bank loan not

exceeding USD 750,000; in order to ensure redemption of a loan taken from

Nordic Environment Finance Corporation to mortgage the automatic processing

centre owned by AB Klaipėdos Baldai and air treatment (purification) facilities

which will be acquired for the loan means; in order to ensure redemption of the

loan taken from the bank to repeatedly mortgage buildings owned by AB Klaipėdos

Baldai.

7. To demolish the following unexploited buildings owned by AB Klaipėdos Baldai

in Klaipėda which obstruct the traffic: a part of mechanical works, a part of a

storehouse, and cyclone building.





Evaldas Venckus

Economics Director

8-26-313945