LINAS

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



On 19 April 2000 the annual general meeting of AB Linas shareholders took

place. At the meeting it was decided to



1) approve report of the Board on company’s activity in 1999;

2) approve conclusions of audit on financial statements of 1999;

3) approve the balance sheet for 1999, where assets and property make up LTL

63,705,509 each. To approve profit and loss account, where net profit of the

current year for appropriation constitutes LTL 5,514,302. Also to approve cash

flow statement, explanatory note, and forms attached to it.

4) approve distribution of profit of 1999. (To announce and allot a 0.028

dividend per ORS of LTL 1 par value);

5) approve taking of a share of USD 550000 of a loan (that remained from

January 1, 2000) from AB Lietuvos Taupomasis Bankas according to the agreement

No 762020-1 of April 2, 1999 by mortgaging long-term property at 23 S.

Kerbedžio St., in Panevėžys;

6) approve refunding of loans of USD 750000 according to agreement No 646002-1

of June 24, 1999, of USD 375000 according to agreement No 646011-1 of January

16, 2000, of USD 1250000 according to agreement No762014 of January 16, 2000

with AB Lietuvos Taupomasis Bankas by mortgaging long-term property at 23 S.

Kerbedžio St., in Panevvėžys;

7) approve taking of a long-term loan of USD 160000 from AB Vilniaus Bankas

according to the loan agreement No 0720014001 of January 28, 2000 by mortgaging

longterm property at 192 Savanorių, in Kaunas;

8) authorise the Board to appoint an employee to sign on behalf of AB Linas all

documents , and if necessary their ammnedments and supplements, prescribed by

laws of the Republic of Lithuania regarding mortgage of the above mentioned

property of AB Linas to the mentioned banks. To file those documents for

registration with Mortgage Institution, also to carry out all other actions

related with mortgaging of the mentioned property;

9) approve the decision of the Board to mortgage short-term assets;

10) approve amendments to the wording of Articles of Association ;

11) authorise A. Mažylienė, company’s Director General, to sign amendments to

the wording of the Articles of Association;

12) authorise A. Mažylienė, company’s Director General, to register amendments

to the wording of Articles of Association (part 2, paragraph 3.5, paragraph

4.14.1.2, paragraph 4.16, paragraph 14.1) in the manner prescribed by the Law

on Register of Enterprises;

13) allow the Board of AB Linas to buy up the company’s shares not exceeding

1/10 of the authorised capital, if it is necessary to avoid losses due to the

fall of share price;

14) the declared dividends shall be paid to:

	- legal persons by payment order;

	- natural persons: - shareholders who are company’s employees will be

paid by transferring to personal bank accounts, other shareholders will be paid

dividends at the company’s cash desk during its work hours.





Lina Semėnaitė

Information specialist

(22) 72 18 58