VAKARŲ SKIRSTOMIEJI TINKLAI

MATERIAL EVENT



PERFORMANCE RESULTS FOR THE NINE MONTHS OF 2003 (CORRECTED ANNOUNCEMENT)



(Unofficial translation done at the NSEL)



During the first three quarters of the year, the public company Vakarų

Skirstomieji Tinklai (VST) made a profit of LTL 20.3 million before taxes

(the profit of the corresponding period last year was LTL 23.8 million).

The Company, which has been functioning as an independent entity only since

the beginning of 2002, this year has already earned a profit from operations

in the amount of  LTL 21.2 million, LTL 4 million up on the corresponding

period last year (LTL 17.4 million).

The VST earnings from main operations during the three quarters of this year,

compared with the corresponding period last year, have increased by 6.8% and

made up LTL 496.8 million. At the end of the year the Company anticipates

earnings from operations to comprise LTL 665 million. This year it has sold

2284 m kWh of electricity, i.e. by 7.2 % more than during the corresponding

period of 2002. The Company is working on schedule and anticipates an annual

profit of LTL 22 million before taxes.

The authorised capital of the company Vakarų Skirstomieji Tinklai AB under

privatisation is LTL 405.261 million. As of 11 August, the controlling interest

in the Company (79.59 %) is held by the state; the E.ON Energie owns 14.62 %;

the remaining portion is with minority shareholders

Vakarų Skirstomieji Tinklai AB serves the population of Kaunas, Klaipeda, and

Siauliai counties. It covers the territory of 30378 km2 with the population of

1.89 million and more than 656 thousand consumers.





Rimantas Vensas

Head of Public Relations and Information Division

(+380-37) 30 97 27