GRIGISKES

MATERIAL EVENT



REPORT ON VALUATION OF ASSETS OF THE COMPANY RECEIVED



On 22 July 2003, evaluation report of the assets of Grigiskes AB was received.

According to the conclusion of the asset valuators, net value of Grigiskes AB

on 1 July 2003 amounted to LTL 66,603,174. The value of one company’s share

came to LTL 1.79.

The submitted conclusion of the asset valuators will be taken into account when

preparing the company’s reorganization project.

In the near future the Management Board of Grigiskes AB will discuss the

conclusion of the asset valuators together with the reorganization project as

well as with conclusions of the project’s expertise (when the conclusions are

ready).





Gintautas Pangonis

Director General

(370 5) 243 58 01