VAKARŲ SKIRSTOMIEJI TINKLAI

MATERIAL EVENT



DECISIONS OF THE GENERAL SHAREHOLDERS’ MEETING



(Unofficial translation done at the NSEL)



On 17 October 2002, a general meeting of Vakaru Skirstomieji Tinklai AB

shareholders’ took place. The meeting resolved to:

1) increase the company’s authorised capital by additional pecuniary

contributions worth LTL 4,227,782.;

2) issue 4,227,782 ordinary registered shares at LTL 1 par, when increasing

the authorised capital. The issue price equals the nominal value and is LTL 1;

3) revoke the pre-emptive right of all shareholders of Vakaru Skirstomieji

Tinklai AB to acquire shares of the new issue. The newly issued shares will

be given to people who have subscribed to the shares, in proportion to the

value of assets transferred to Vakaru Skirstomieji Tinklai AB.

4) The procedure of distribution of and payment for shares was established;

5) Evaluation of pecuniary contributions was approved;

6) Change the company’s name from  Vakaru Skirstomieji Tinklai AB

(West Distribution Network) into Vakaru Elektros Skirstomieji Tinklai AB

(West Electricity Distribution Network);

7) Change paragraphs of the Articles of Association which are related with

the company’s name and the size of the authorised capital. A. Keserausakas,

director general of the company, was authorised to sign amendments to the

Articles of Association and to register them.





Rimantas Vencas

Head of External Relations and Information Division

+370 (37) 30 97 27