UTENOS TRIKOTAZAS

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



1. Approved the company’s Annual Report 2003.

2. Approved the auditor’s statement.

3. Approved the annual accounts.

4. Approved the profit appropriation for 2003. It was resolved to pay dividend

in the amount of LTL 0.60 per share of LTL 1 nominal value. The registration

date of the shareholders entitled to dividend is 20 April 2004.

5. Elected the firm of auditors, Ernst@Young, auditor of Utenos Trikotazas AB

for the year 2004.

6. Resolved to amend the company’s Articles of Association in accordance with

the Company Law of the Republic of Lithuania as of 11 December 2003.

7. Following Article 54 of the Company Law resolved to acquire its own shares

by announcing a voluntary tender offer in the manner prescribed in the Law on

Securities Market of the Republic of Lithuania.

8. Elected Martynas Cesnavicius member of the Board of Utenos Trikotazas AB.





Nerijus Datkūnas

Finance Director

(+370-389) 63080