VAKARŲ SKIRSTOMIEJI TINKLAI

MATERIAL EVENT



RESULTS FROM OPERATION FOR THE YEAR 2003



(Unofficial Translation Done at the NSEL)



In 2003, the unaudited net profit before taxes of Vakaru Skirstomieji Tinklai

AB amounted to LTL 23 m.

The company’s revenue for the sale of electricity in 2003 totalled LTL 689.5 m,

which is by 5.5% more than in 2002. Last year, the company sold 3140 m kWh of

electricity, which is by 5.2% more than in 2002.



The authorised capital of Vakaru Skirstomieji Tinklai AB totals LTL 405.261 m.



From 23 December 2003 the biggest shareholder of Vakaru Skirstomieji Tinklai AB

is NDX Energija UAB, which holds about 77% of the shares. Currently a mandatory

voluntary tender offer to acquire remaining shares of Vakaru Skirstomieji

Tinklai AB at LTL 1.73 per share is announced. German energy company E.On

Energine holds about 14.62% of Vakaru Skirstomieji Tinklai AB shares. The

remaining 8.38% of the shares are in the ownership of retail investors.



Vakaru Skirstomieji Tinklai AB provide services to Kaunas, Klaipeda and

Siauliai regions, which covers 30,378 sq. m. with 1.89 million inhabitants and

more than 656 thousand consumers.





Rokas Babravicius

Head of External Relations and Informations Division

(370 37) 309250