LIFOSA

MATERIAL EVENT



DECISIONS OF THE GENERAL SHAREHOLDERS’ MEETING



At 11 a.m. on 1 October 2002, a general meeting of shareholders of Lifosa AB

was held at the company’s main office (Juodkiskio g. 50, Kedainiai).

At the meeting, it was decided to:

1) dismiss members of the Management Board;

2) elect the following persons members of the Management Board: p. Nikolaj

Levickij, p. Aleksej Kabin, p. Danas Tvarijonavičius, p. Jonas Dastikas,

p. Aryan van den Blink;

3) reduce the company’s authorised capital in order to annul the loss recorded

in the company’s balance sheet. It was decided to annul the shares acquired by

the company (1,250,610 units of ORS of Lifosa AB). It was also decided to

reduce the nominal value of a share from LTL 20 to LTL 9. After the reduction

the authorised capital of Lifosa AB will equal LTL 88,104,510.

4) Amend paragraphs 4.1, 4.2 and 9.1 and supplement paragraph 2.2 of the

Articles of Association correspondingly, due to the reduction of the authorised

capital and change of the number of the Management Board members;

5) – PricewaterhouseCoopers audit company was elected the company’s new auditor.





Mindaugas Gedvilas

Finance Director

(347) 66595