EKRANAS

MATERIAL EVENT



FIRE AT EKRANAS AB



(unofficial translation done at the NSEL)



At 3 p.m. on 3 October 2002, the roof of the second assembling shop caught

heavy  fire while demolishing works were carried out. This fire is a disaster

for the whole company.



Ekranas AB is an important entity not only to Panevezys, but also to Lithuania

and the entire region of East and Central Europe.



We are ready to speak openly with the mass media, staff, business partners,

shareholders, and the society. The company’s power is based on a strong team of

administration and staff which has undertaken immediate measures to ensure a

stable work process. The production bar destroyed in the fire will be rebuilt

in a week or two. Sales of required components has already been agreed with

partners of Ekranas AB.



It can be guaranteed that fire-related business interruptions will be minimal.

The production cycle will be restored within one to two weeks. Sales will be

arranged this weekend, because the company has accumulated enough stock in the

warehouses during the summer months. Business obligations will not be

interrupted.



The production process continues in all shops of the company. All employees

continue their daily work without panicking.



On the same day, 3 October, a commission of extreme situations was formed

including experts from the district, city, and the company. Conclusions of the

commission will be announced once the research is done.



At the moment it is difficult to evaluate the damage caused by the fire.

This information will be released immediately after the losses are calculated.

We can inform that there were no human casualties. One woman had to see a

doctor due to shock.

Fire brigades stayed at the fire scene during the night. The fire has been

extinguished.



Administration of the company wants to express its gratitude to the company’s

partner Vilniaus Vingis AB, Parodomasis stratybos trestas (Demonstration

construction trust), King Mindaugas battalion, Rytu Skirstomieji Tinklai AB,

district and city authorities as well as all partners of the company for their

understanding, goodwill, and concrete financial support.



During 40 years in operation, the company has implemented quite a few

investment projects. The last one is to launch a line for production of Real

Flat tubes of large diameter. The fire may affect the project only in terms of

place or territory, yet the implementation of the project itself will be

continued. All property of the company has been insured. Besides, we have

a twelve-month business interruption insurance.



Two commissions have been formed in the company. One of them is to carry out

investigation into the causes of the fire, while the other will focus on the

loss. We will regularly inform mass media on the work and conclusions of the

commission.





Angelija Zokaitienė

Head of Investor and Public Relations Division

+370 (45) 50 67 72