GRIGISKES

MATERIAL EVENT



RESULTS FROM OPERATION FOR THE YEAR 2003



(Unofficial Translation Done at the NSEL)



In 2003, the sales of Grigiskes AB, the largest producer of corrugated board

and sanitary paper  in Lithuania, amounted to LTL 79.7 million. Compared to

2002, they increased by 16.3% ( in 2002, this figure was LTL 68.52 million).

The last month of 2003 was also successful – the sales of products and services

totaled to LTL 7.5 million or 30% up on the result of December 2002 (LTL 5.76

million).

In 2003, the company Grigiskes AB earned an unaudited profit of LTL 11.64

million. Compared to the results of 2002, the profit soared 3.8 times (from LTL

3.049 million). In December 2003, the company’s revenues augmented 5.8 times

more than in 2002 during the same period (in December 2003, LTL 1.746 million;

in December 2002, LTL 300 thousand).





Gintautas Pangonis

Director General

(+370-5) 2435801