KLAIPEDOS BALDAI

MATERIAL EVENT



CONVOCATION OF A REPEATED GENERAL SHAREHOLDERS’ MEETING



The general meeting of AB Klaipėdos Baldai shareholders, which was to be held

at 10 am on 30 December 2000, did not take place due to the lack of quorum.

Due to this, the repeated shareholders’ meeting will take place at 10am on

14 January 2001 (21 Joniškės St. LT – 5799 Klaipėda).

On the agenda:

1) increase of the authorised capital;

2) amendments to the Articles of Association due to the increase of the

authorised capital;

3) no pre-emptive rights for all shareholders to acquire the company’s shares;

4) revocation of the Supervisory Board;

5) election of a new Supervisory Board;

6) approval of the Board’s decisions regarding funding of the activity,

mortgage and sale of the company’s long term assets the value of which is

larger than 1/20 of the company’s authorised capital;

7) other current issues.





Evaldas Venckus

Director of Economics

8-26-313945