PANEVEZIO PIENAS

MATERIAL EVENT



MEMBERS OF THE MANAGEMENT BOARD



On 16 July 2002, the extraordinary general meeting of AB Panevezio Pienas

resolved to:

1) dismiss the company’s Management Board;

2) elect the following persons members of the Management Board: Kjell Lennart

Carlsson, Dalius  Gerulaitis, Virginijus Jankauskas, Voldemaras Klovas, Julius

Kvaraciejus, Aleksandr Smagin, and Dalius Trumpa.



Kjell Lennart Carlsson was elected chairman of the Management Board.





Gediminas Sargūnas

Director General

8-45 502064