KAUNO TIEKIMAS

MATERIAL EVENT



THE ANNOUNCEMENT OF THE MANAGEMENT BOARD OF KAUNO TIEKIMAS AB REGARDING

DIVIDENDS FOR 2003.



(Unofficial Translation Done at the NSEL)



The Management Board of Kauno Tiekimas AB decided to propose to the general

meeting of shareholders not to pay dividends to shareholders for 2003.





Irena Kebleriene

Director General

(+370 37 ) 473744