KAUNO TIEKIMAS

MATERIAL EVENT



A NEW ISSUE HAS BEEN DISTRIBUTED AND FULLY PAID UP; AN INCREASE OF THE

AUTHORIZED CAPITAL HAS BEEN REGISTERED WITH THE REGISTER OF ENTERPRISES



(Unofficial translation done at the NSEL)



On 22 August 2003, a new issue of shares with the nominal value of

LTL 3000000 was distributed and fully paid up.

On 27 August 2003, an increase of the authorized capital to LTL 10180884

was registered with the Register of Enterprises.





Irena Keblerienė

Managing Director

(370 37 ) 473744