LIFOSA

MATERIAL EVENT



ACTIVITY RESULTS FOR THE 1ST QUARTER OF 2003



(Unofficial translation done a the NSEL)



Calculating by IAS, during the 1st quarter of the current year Lifosa AB earned

LTL 636 thous. of pre-audit net profit.

The company’s activity results of January-March 2002 was a loss of LTL 5.204 m.

The company’s turnover of the current quarter was LTL 104.7 m, which is 42.1

percent more than during the same period last year (LTL 73.7 m). During the

first quarter, the company sold 187.4 thous. tones of diam-monium phosphate,

which is 76 percent more than during the corresponding period in 2002.

This notable growth has been attained by using a sufficient amount of raw

material and exploring the capacities of the plant to the maximum extent.

Meanwhile, last year only 50 percent of production capacities were utilized

since the supply of raw materials was not in a full order.





Regvita Ivanovienė

Finance Director at interim

(370 347) 66 331