KAUNO ENERGIJA

MATERIAL EVENT



PRELIMINARY SEMI-ANNUAL RESULTS FOR 2003 AND AMOUNTS PAYABLE



(Unofficial translation done at the NSEL)



Pre-audited semi-annual result of Kauno Energija AB is net profit of LTL

26,087,677. The ratio of amounts payable and liabilities to authorised capital

equals 0.84 in comparison with 0.19 ratio of amounts payable within one year

and current liabilities to authorised capital at the end of the accountable

period (30 06 2003).





Jovita Sereikiene

Head of Asset Management Division

(370 37) 308 064