GRIGISKES

MATERIAL EVENT



CONVOCATION OF AN EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS



(Unofficial translation done at the NSEL)



By decision and on initiative of the Board’s meeting held on 28 August 2003,

an extraordinary general meeting of shareholders is convened on 29 September

2003, at 10 a.m., in the meeting hall of Grigiškės AB office premises

(Vilniaus street 10, Grigiškės, Vilnius).

The agenda includes:

1) Reorganization of Naujieji Verkiai AB and Grigiškės AB.

2) Approval of the reorganization project of Naujieji Verkiai AB and

Grigiškės AB.

3) Approval of appraisal of the assets of Naujieji Verkiai AB and Grigiškės AB.

4) Increase of the authorized capital of Grigiškės AB.

5) Revocation of the pre-emptive right of the company’s shareholders for the

acquisition of newly issued shares of Grigiškės AB.

6) Approval of the new version of the Articles of Association of Grigiškės AB.

7) Granting of authorization to sign documents and perform other actions in

the course of reorganization of Naujieji Verkiai AB and Grigiškės AB.

Shareholders are provided access to meeting documents, draft resolutions,

reorganization project of the companies under reorganization, reorganizations

terms and conditions, draft Articles of Association of Grigiškės AB, which will

continue operations after the reorganization, report of the Board of Grigiškės

AB, report of the managing director of Naujieji Verkiai AB, expert conclusions,

reports on the companies’ assets appraisal, and financial statements daily

(working days) from 7.30 a.m. till 4.30 p.m. in room No 601 of Grigiškės AB

office (Vilniaus street 10, Grigiškės, Vilnius).





Gintautas Pangonis

Managing Director

(370 5) 243 58 01