ALITA

MATERIAL EVENT



THE SUPERVISORY BOARD HAS ELECTED THE NEW BOARD



(Unofficial Translation Done at the NSEL)



On 12 January 2004, a meeting of the Supervisory Board of Alita AB was held.

The meeting was attended by the following members of the Supervisory Board:

Raimondas Sedlevicius, Stanislavas Talat-Kelpsa, Jonas Petrasiūnas.

The following issues were on the agenda of the meeting of the Supervisory Board:

1.Removal of the Board members of Alita AB;

2.Election of the Board members of Alita AB.

The Supervisory Board has resolved to:

1.Remove members of the Board of Alita AB: Vytautas Junevicius, Vilmantas

Peciura, Rūta Motiejūnaite, Aida Saviciūniene, Antanas Bajarunas.

2.Elect the following members to the Board of Alita AB: Vytautas Junevicius,

Director General of Alita AB; Vilmantas Peciura, Finance and Administration

Director of Alita AB; Arvydas Jonas Stankevicius, Production Director of Alita

AB, Darius Vezelis, Marketing and Sales Director of Alita AB; Liudas Navickas,

Director of Siauliu Banko Investiciju Valdymas UAB.





Audrone Barbuskiene

Economist

(+370~315) 5 72 41