EKRANAS

MATERIAL EVENT



EXTRAORDINARY MEETING OF THE MANAGEMENT BOARD HELD



Unofficial translation done at the NSEL



On 6 October, the extraordinary meeting of the Management Board was held where

the situation related with the fire was discussed and certain decisions were

passed.

1. Representatives of the largest shareholders of Ekranas AB have confidence in

the company, its possibilities and perspective.

2. Fortunately, there were no human casualties.

3. A commission, leaded by A. Giz, was formed of Lithuanian and foreign

experts. Discussions with the insurance company are to start today, so the

results can be expected in the near future.

4. Designing has been already started. It is expected to reconstruct the

building by 1 March 2003.

5. Assembling process has been stopped. Nevertheless, one line will be put to

operation on 10 October, and the second line for tube assembling will start to

operate on 22-23 October. The company have sufficient stock of products, so the

needs of customers will be fully satisfied.

6. All our partners support us, and the buyers increased their orders.

In October, we will sell approximately 300,000 TV tubes, which is by 10% more

than we have planned to.

7. The Management Board notes that nine-month results of the company were very

good. Taking into consideration a complicated situation on the European

electronics market and comparing to our rivals, business results of Ekranas AB

are among the best. The company as been operating profitably and managed to

increase its market share. Currently, the company takes 18.5% of the market of

small TV tubes (16% last year), and 12.4% of the market of medium-size tubes

(10% last year).

8. The Management Board resolved to continue the project of production of

large-diameter tubes according to the earlier established schedule and invest

into the restoration of production processes.

9. Production and sales plans for 2003 remain unchanged. The Management Board

decided to seek to cut the costs, increase sales volumes and the market share.





Angelija Zokaitienė

Head of Investor and Public Relations Division

+370 (45) 50 67 72