LIFOSA

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



On 29 March 2001, a general shareholders’ meeting took place. At the meeting,

the following decisions were adopted:

1) report of the Board on the results of activities in 2000 was approved;

2) audit report on activities of the company in 2000 was approved;

3) the approved and audited (according to IAS) loss of the company for 2000

amounting to LTL 95,918,002 will be covered as follows:

LTL 33,637,741 out of reserves available for distribution;

LTL 4,793,251 out of the mandatory reserve;

The loss of LTL 64,233,377 remains unappropriated including the loss of

LTL 6,746,367 for the year 1999.

4) the company’s financial statements for 2000 were approved;

5) the residual value of long-term assets was written off;

6) paragraph 2.2 of the Articles of Association was supplemented with item

104 which reads as follows:

51.51 – wholesale of solid, liquid, and gaseous fuels and related products;

7) resolution of the Board as of 31 January 2001 (Minutes No. 15c)

“Regarding Participation in Activities of Other Companies” was approved.





J. Baniota

Finance Director

(257) 66410