GRIGISKES

MATERIAL EVENT



ACTIVITY FORECASTS FOR 2003



(Unofficial translation done at the NSEL)



On 20 December 2002, a meeting of the Board of Grigiskes AB was held, which

approved the budget for 2003. Plans include increase of Grigiskes AB sales by

25 percent, i.e. sales of goods and services will amount to LTL 75.4 million.

In 2003, Grigiskes AB plans to increase its earnings by 74 percent making LTL

5.1 million of profit.

Grigiskes AB has a 49.92 stake in Naujieji Verkiai AB producing sanitary and

corrugated paper. According to the forecasts, in 2003 the consolidated sales

of the two companies will amount to LTL 94.9 million with a net profit reaching

LTL 5.9 million.





Gintautas Pangonis

Managing Director

(370 5) 243 58 01