STUMBRAS

MATERIAL EVENT



CONCERNING REGISTRATION OF A NEW SHARE ISSUE



(Unofficial Translation Done at the NSEL)



On 25 March 2004, a new issue of 3,030,000 ordinary registered shares of

Stumbras AB, to be issued by increasing the authorised capital from

supplementary contributions, was registered. Par value per share is LTL 4.00,

issue price is LTL 4.00, total nominal value of the issue is LTL 12,120,000.

It is a private placement for the shareholders of the company offered pro rata

to the number of shares they hold. The share offering begins on the third day

after registration of the share issue at the Securities Commission and will be

carried on for 30 calendar days. The shares can be subscribed for at the

premises of Stumbras AB at 7 Bugos St., Kaunas, on working days from 8 to 11

a.m. and from 1.00 to 4.00 p.m. in the office of the Director General.

After all shares of the new issue have been subscribed for, the share

subscription will be terminated.

It is possible to familiarise with the prospectus and other documents at the

Stumbras AB registered office at 7 Bugos St., Kaunas, on working days from 8

to 12 a.m. and from 1.00 to 5.00 p.m.





Dalius Balceris

The Company’s Representative

(+370~5) 2786065