VILNIAUS BALDŲ KOMBINATAS

MATERIAL EVENT



CONCERNING GENERAL SHAREHOLDERS’ MEETING HELD ON 17 MARCH 2004



(Unofficial Translation Done at the NSEL)



On 17 March 2004, the annual general meeting of Vilniaus Baldu Kombinatas AB

shareholders was held. The meeting resolved to:

1. Approve the company’s Annual Report for 2003.

2. Approve the company’s annual accounts of 2003.

3.  Approve the company’s profit appropriation for 2003;  allocate LTL 1.00

per share as dividend.

4. Elect the firm of auditors  KPMG Lietuva UAB auditor of the company for

the period of two years and determined remuneration for audit services.

5. Change the company’s name to Vilniaus Baldai AB.

6. Approve the new wording of the company’s Articles of Association.

7. Elect Algirdas Bucas, Dailius Juozapas Miseikis and Alvydas Banys members

of the Board.





Vygantas Didziulis

Chief Financier

(+370-5) 252 57 20