GRIGISKES

MATERIAL EVENT



NEW WORDING OF ARTICLES OF ASSOCIATION OF GRIGISKES AB REGISTERED



(Unofficial Translation Done at the NSEL)



On 31 December 2003, a new wording of the Articles of Association of Grigiskes

AB reflecting the increased authorised capital (due to reorganisation after a

merger with Naujieji Verkiai AB) was registered, and the company Naujieji

Verkiai AB was deregistered from the Vilnius Registry of Enterprises.

Shareholders of Naujieji Verkiai AB will be allotted shares of a new issue of

Grigiskes AB on the basis of the ratio of share exchange provided for in the

Reorganisation Plan.





Gintautas Pangonis

Director General

(+370-5) 243 58 01