2001.02.23, Limarko laivininkystės kompanija, VLN

KLAIPEDOS TRANSPORTO LAIVYNAS

MATERIAL EVENT



ADOPTED DECISIONS OF A GENERAL SHAREHOLDERS’ MEETING



On 20 February 2001, the general shareholders’ meeting was held.

At the meeting it was decided to mortgage the following vessels owned by the

right of ownership by AB Klaipėdos Transporto Laivynas to

AB Lietuvos Žemės Ūkio Bankas for the granted loan:

1.1.1. reefer ‘ARGO” with its equipment.  On 1 January 2001, the residual value

was LTL 12,208,126;

1.1.2. reefer "KLAIPĖDSKIJ BEREG” with its equipment. The purchase price is

LTL 18,000,000.

1.2 To authorise president of AB Klaipėdos Transporto Laivynas Mr. A. Bič to

sign the mortgage agreement and to perform all other actions related to the

mortgage of property.





Vilma Kersnauskienė

Lawyer

8 (26) 340575