VILNIAUS DEGTINE

MATERIAL EVENT



DECISIONS OF THE GENERAL SHAREHOLDERS’ MEETING



On 23 April 2002, a general shareholders’ meeting took place.  At the meeting

it was decided to:

1) approve report of the Management Board on the economic and financial

performance in 2001;

2) audit report was heard;

3) approve financial statements of 2001. The net result of the economic year is

a loss of LTL 1036.7thou. The loss of the economic year will be covered from

the reserve available for distribution (LTL 1967.7thou). To approve profit

appropriation (LTL 933.9thou), where dividends of LTL 0.011 pre share are

allotted.

4) Establish remuneration of LTL 29.500 for audit services in 2002;

5) Allow the Management Board conclude loan agreements of the total value of

LTL 5 million with a bank by pledging real estate of AB Vilniaus Degtine. The

loan received may be used to acquire new equipment, raw materials, to

supplement working assets and to pay taxes in 2002. To allow the Management

Board to issue guarantee documents and written commitment regarding

transportation and storage of goods subject to excise duties by applying the

procedure of temporal suspension of payment of excise duties pursuant to the

valid legal acts.

6) Allow the Management Board to consider issues of social security;

7) Recall the following persons from the Council of Observers: A.Devenis,

A.P.Pranevicius, M.Strumskis, and R.V.Zabuliene and elect V.Katkevicius,

G.Pavirzis, D.Zabulionis, and P.Kubilius members of the Council of Observers.





Raimonda Palionienė

Chief financier

8(5)2133152