STUMBRAS

MATERIAL EVENT



MEMBERS OF THE BOARD REMOVED FROM POST AND NEW MEMBERS APPOINTED



(Unofficial translation done at the NSEL)



By decision of the Supervisory Council of Stumbras AB of 6 March 2003,

the following Board members were removed from post: V. Švabas, A. Samoška,

A. Džiugas, A. Volkienė, and D. J. Seilius.

The following persons were appointed Board members for the new term of office:

Dalė Žukauskienė, specialist of the Equity Management Department of the State

Property Fund;

Nijolė Sabonienė,  specialist of the Equity Management Department of the State

Property Fund;

Vytautas Bieliauskas,  specialist of the Equity Management Department of the

State Property Fund;

Vidimantas Švabas, Director General of Stumbras AB;

Jonas Žukauskas, Executive Director of Stumbras AB.





S.Stupakovienė

Economic analysis manager

(370 37) 30 88 41