LIFOSA

MATERIAL EVENT



RESOLUTIONS OF THE GENERAL SHAREHOLDERS’ MEETING



(Unofficial Translation Done at the NSEL)



On 21 June 2004, a General Meeting of Lifosa AB shareholders was held.

The Meeting resolved to:

1.apply to the Panevezys District Court concerning termination of the

restructuring case of Lifosa AB  in accordance with Article 24 (2) of the

Law on Restructuring of Enterprises of the Republic of Lithuania.

2.pledge long term assets of Lifosa AB, namely, plants manufacturing sulphuric

acid, phosphoric acid and ammonium phosphate with the equipment contained in

them to the public company Vilniaus Bankas for the loan refinanced by Vilniaus

Bankas AB after the Court decision concerning termination of the restructuring

case becomes effective.





Regvita Ivanoviene

Finance Director

(+370-347) 66 331