NSEL

MATERIAL EVENT



RESOLUTIONS OF THE GENERAL MEETING OF SHAREHOLDERS



The General Shareholders’ Meeting of the NSEL held on 3 December 2003 adopted

the following resolutions:

1. Remove all members from the Supervisory Board of Nacionaline Vertybiniu

Popieriu Birza AB.

2. Amend the second sentence of paragraph 7.1 of the Articles of Association

of Nacionaline Vertybiniu Popieriu Birza AB and set it forth as follows:

“The Exchange’s Supervisory Board is composed of 5 members elected for a

4-year term”.

3. Authorise the president of Nacionaline Vertybiniu Popieriu Birza AB to

undersign the amendments of the Articles of Association and have them

registered in a procedure provided for in the laws.

4. Elect the following new members of the Supervisory Board: Raimondas

Sedlevicius, Head of the Share Management Division of the State Property Fund,

Ruta Motiejunaite, Deputy Head of the Share Management Division of the State

Property Fund , Dale Zukauskiene, Specialist of the Share Management Division

of the State Property Fund, Tomas Andrejauskas, Vice Chairman of the Board,

Head of the Corporate Financing Unit, and Giedrius Steponkus, Director of the

brokerage firm G. Steponkaus kontora UAB.





Aldona Gaidamauskiene

Head of the Secretariat and Personnel Division

(370 5) 272 42 21