09.10.2003, Limarko laivininkystės kompanija, VLN

KLAIPEDOS TRANSPORTO LAIVYNAS

MATERIAL EVENT



EXTRAORDINARY  GENERAL SHAREHOLDERS' MEETING



Meeting of the Board of the Company    held on 8 October  2003 adopted the

following resolutions:

  1. To convene first after reorganization EGM on 10 November 2003 at 1.30 p.m.

at the premises of Klaipedos Transporto Laivynas AB (Nemuno str.22, Klaipeda).

Registration starts at 1 p.m.

   2.To approve  agenda project of EGM:

   2.1. Transfer of assets, rights and  obligations of Limarko Laivininkystes

Kompanija UAB.

   2.2. Reduction of the authorised  capital of Klaipedos Transporto Laivynas

AB by annuling  the bought back  own shares acquired  as per article 54(1)(3)

of law on Companies  of the Republic of Lithuania.

   2.3. Approval of new wording of the Articles of Association  of Klaipedos

Transporto Laivynas AB.

   2.4. Prolongation and/or refinancing  of the loans and  pledge of Klaipedos

Transporto Laivynas AB  long term assets, exceeding 1/20 of the authorised

capital of Klaipedos Transporto Laivynas AB.





Marius Dvareckas

Finance director

8 46 340896