DVARCIONIU KERAMIKA

MATERIAL EVENT



RESOLUTIONS OF THE GENERAL MEETING



(Unofficial translation done at the NSEL)



The General Meeting convened on 23 March 2003 adopted the following resolutions:

1. Approval of the company’s activity report for 2002.

2. Consideration of the internal auditor (audit) report on the financial

statements for 2002 business year.

3. Approval of profit distribution. No dividends to be paid. Transfer of profit

to reserves.

4. Election of Mantas Paliulis and Parham Pouladdej members of the Supervisory

Board.

5. Pledging of assets of Dvarčionių Keramika AB worth LTL 60 185 819,40 with

the Finance Ministry of the Republic of Lithuania in order to guarantee

satisfaction of obligations under Debt Repayment Agreement No. 507 of 20

December 2002.





Romanas Urniežius

Finance Vice President

(8 5) 231 78 78