KLAIPEDOS BALDAI

MATERIAL EVENT



DIRECTOR GENERAL CHANGED



(Unofficial Translation Done at the NSEL)



1.On 30 January 2004, acting on the request of Ricerdas Kiaurakis, Director

General of Klaipedos Baldai AB, the Board of the company resolved to discharge

Ricerdas Kiaurakis from the post of the Director General.



2.The Board of Klaipedos Baldai AB resolved to elect Eimuntas Jankauskas

Director General for the term of the Board starting from 2 February 2004.





Dalius Jarmalavicius

Finance Director

(+370-46) 31 39 58