SNAIGE

MATERIAL EVENT



CHANGE OF THE MANAGING DIRECTOR



(Unofficial translation done at the NSEL)





The Board passed a decision to dismiss Antanas Vytautas Andrulionis from

the position of the Managing Director of Snaigė AB in accordance with Article

27 of the Law on Labour Contracts by a mutual agreement of the parties.

To appoint Production Director Romualdas Raudonis to act as of 16 December

2002 at interim as the Managing Director until the new Managing Director is

appointed.





Romualdas Raudonis

Production Director acting at interim as Managing Director

(370 315) 56202