KAUNO ENERGIJA

MATERIAL EVENT



DECISIONS OF THE EXTRAORDINARY GENERAL SHAREHOLDERS’ MEETING



On 3 December 2002, the following decisions were made at an extraordinary

general shareholders’ meeting:

1. to appoint Ernst & Young Baltic UAB  to perform an audit of the economic

and financial activity (further on – audit) of Kauno Energija AB and to

establish the amount of LTL 80240 (eighty thousand two hundred and forty LTL),

VAT inclusive, as a remuneration for the audit services.

2. To approve the consortium consisting of Russian company Gazprom, Lithuanian

company Dujotekana, and US company Clement Power Venture Inc. the winner of the

tender for sale of Kaunas power station. This decision is due to the fact that

the consortium ranks number one among the bidders for the sale of Kaunas power

station (Taikos Ave. 147/V. Kreves Ave 128), fuel oil sector (Ateities Ave.

35), and freckle sector (V. Kreves Ave. 135) (further on Power station),

belonging to Kauno Energija AB branch Kaunas power station.

3. To sell Kaunas power station (Taikos Ave. 147/V. Kreves Ave 128), fuel oil

sector (Ateities Ave. 35), and freckle sector (V. Kreves Ave. 135) belonging to

Kauno Energija AB branch Kaunas power station, that is their assets, indicated

in annexes 1, 2, 3, 4, and 5 of the Power station’s sale agreement project, to

the closed-end stock company Kaunas Termofikacijos Elektrine (company code

1088449), established by the winner of the tender for sale of Kaunas power

station, for LTL 116 500 000 (one hundred sixteen million and five hundred

thousand LTL).

4.1. 	To approve the project of the sale agreement of the Power station.

4.2. To authorise Kauno Energija AB Director General Mr. Kestutis Mindaugas

Juozaitis to sign Power station’s agreement with the closed-end stock company

Kaunas Termofikacijos Elektrine (company code 1088449), established by the

winner of the tender.

5.1. To approve the project of thermal energy sale agreement.

5.2. To authorise Kauno Energija AB Director General Mr. Kestutis Mindaugas

Juozaitis to sign the thermal energy sale agreement with the closed-end stock

company Kaunas Termofikacijos Elektrine (company code 1088449), established by

the winner of the tender.





J. Sereikienė

Head of division

(370 37) 308 064