19.04.2004, Panevėžio statybos trestas, VLN

PANEVEZIO STATYBOS TRESTAS

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



The General Meeting held on 16 April 2004 adopted the following resolutions:

1. Approved the Annual Report 2003.

2.  Considered the auditors’ Statement.

3. Approved the company’s annual financial statements for 2003.

4. Approved the company’s profit appropriation for 2003. The profit submitted

for appropriation: the unappropriated profit for the beginning of the period:

LTL 66,893; the net profit of 2003: LTL 70,413; the profit transferred from

reserves: LTL 5,559,412. The profit available for distribution, LTL 6,405,963,

was appropriated as follows: to the statutory reserves: LTL 38,983; for

property revaluation: LTL 4,380,382; the unappropriated profit for the end of

the period: LTL 1986598. No dividends, bonuses or other annual payments were

allocated.

5. Elected Deloitte&Touche as the firm of auditors and determined payment for

its services.

6. Did not approve the new wording of the Articles of Association.

7. Removed the company’s Board.

8. Elected of the Board members:

Algimantas Butkunas, Gvidas Drobuzas,Vygandas Sliesoraitis,Antanas Pavalkis

Mindaugas Vegele.





Sarunas Ruzgys

Marketing Direktor

(+370 45) 505570