01.06.2004, Lietuvos energijos gamyba (until 2011), VLN

LIETUVOS ENERGIJA

MATERIAL EVENT



CONCERNING PARTICIPATION IN THE INTERNATIONAL INVESTMENT PROJECT



(Unofficial Translation Done at the NSEL)



On 31 May 2004, the Board of Lietuvos Energija AB adopted a decision to sign

the agreement with the Latvian VAS Latvenergo, Estonian  Eesti Energia AS,

the Finnish companies Powest Oy and Helsingin Energia concerning participation

in the international investment project to connect energy systems  of the

Baltic States and Finland. Total value of the project investments is about

EUR 110 million. Lietuvos Energija AB is planning to invest into the project

about EUR 27 million and hold about 25 % of the future enterprise.





Ona Garniene

Managing Accountant

(+370-5) 2782457