INVALDA

MATERIAL EVENT



INCREASE OF THE BLOCK OF SHARES



(Unofficial Translation Done at the NSEL)



(1)On 22 December 2003, the Company repurchased 1,000,000 (one million) shares

of Vilniaus Baldu Kombinatas AB and increased its participating interest to

67.7 %.

(2)After the Company’s legal status has changed, the issued securities are to

be reregistered. Shareholders willing to receive the statement of securities

account may request it at the financial brokerage house Finasta AB

(23 Konstitucijos ave., section B, 3rd floor). For more information call at

(+370-5) 278 68 33.





Alvydas Banys

Vice President

(+370-5) 279 06 91