SNAIGE

MATERIAL EVENT



CONCERNING GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On 29 March 2004 at 3 p.m., a general meeting of shareholders of the company

will be convened at the hall of the company located at 6 Pramones St., Alytus.

The meeting was initiated and convened by the Management Board of the company.

The registration of shareholders will be from 3 p.m. to 3:50 p.m.



Only natural and legal persons who held company’s shares at the end of the

registration day of the meeting (22 March 2004) are eligible to participate in

the general meeting.

Requisition at registration is to have person confirmation document and power

of attorney (if commissioner persists) and a statement of securities’ account

intended for general shareholders’ meeting.



On the agenda:



1.Report of the Board of Snaige AB on the company’s performance in 2003.

2.Auditors’ report for 2003.

3.Approval of the annual financial statements.

4.Approval of the appropriation of profit for 2003.

5.Approval of the company’s Articles of Association.

6.Election of the Supervisory Board.

7.Selection of the firm of auditors.

8.Regarding buying back of the company’s own shares.



Projects of the decisions of the general meeting can be obtained at Snaige AB

from March 18 2003, tel. 370 315 56205





Romualdas Raudonis

Director General

370 315 56200