GRIGISKES

MATERIAL EVENT



RESULT OF PERFORMANCE IN 7MONTHS OF 2002



During seven months of 2002, Grigiskes AB earned the net profit of LTL 895thou,

which is 3.4 times more than during the corresponding period last year (LTL

261thou). Seven-month sales of the company producing wood fibre board and

hygienic paper made LTL 34.7 million, marking a 2.9% decrease over the same

period last year (LTL 35.7m). Grigiskes AB revises forecasts for the current

year. It is planned that in 2002 the company’s sales will increase by 2.1% , as

compared to 2001, and reach LTL 61.4 million. Last year, the company’s gross

turnover equaled LTL 60.1 million. This year the company intends to earn LTL

2.3m which is by 66.3% more than in 2001 (LTL 1,383 million).





Gintautas Pangonis

Director General

8 (22) 435801