EKRANAS

MATERIAL EVENT



RESOLUTION OF AN EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS



(Unofficial translation done at the NSEL)



On 16 January 2003, an extraordinary general meeting of shareholders of

EKRANAS AB adopted the following resolution:

Item 1. Concerning mortgaging of the company’s long-term assets.

1.1. Seeking to fulfill the obligations of EKRANAS AB to Vilnius department of

Kredyt Bank stemming from the USD 12.6 million long-term credit contract signed

on 19 December 2002, to mortgage the following long-term assets of EKRANAS AB:

1.1.1.	facilities used in the production of large-size TV tubes (25, 28, and

29 inch) of the value of USD 16.8 million, in accordance with the attached list.

1.1.2.	production building marked as 4P2/p in the plan 

(U.No. 27/982-0075-04-02:0002) together with the title to the land plot rent.

1.2. Seeking to fulfill the obligations of EKRANAS AB to Vilniaus Bankas AB

stemming from the Euro 15 million long-term credit contract, to mortgage the

following long-term assets of EKRANAS AB:

under first mortgage

- production building marked as  1P2/p in the plan

(U.No. 27/982-0075-01-7)

- glass unit facilities, in accordance with the attached list

(aggregate value is LTL 57.176.215)

under second mortgage

- glass unit building marked as 5P2/p  in the plan

(U.No. 27/982-0075-05-6);

- glass unit building marked as 7P2/p in the plan

(U.No. 27/982-0075-07-1);

- loading building marked as 6P3/p  in the plan

(U.No. 27/982-0075-06-0) with extensions;

- administrative unit marked as 16B3/p in the plan

(U.Nr. 27/982-0075-15-8);

- glass unit facilities, in accordance with the attached list

(aggregate value is LTL 13.231.569)

- funds in the account with Vilniaus Bankas AB and inflows in Litas and foreign

currencies for a sum equivalent to USD  4 000 000 (four million) or more.

1.3. Authorize the Board of the company to mortgage, in accordance with the

attached list, long-term assets of the value greater than 1/20 of the company’s

authorized capital for a period from 1 January 2003 until the day of the

ordinary general meeting of shareholders.

1.4. Authorize economics and finance director Jonas Makūnas (p/c 3530507586) to

sing on behalf of EKRANAS AB all documents related to the aforementioned

mortgaging of the assets of EKRANAS AB.





Angelija Zokaitienė

Head of the Investor and Public Relations Department

(370 45) 50 67 72