INVALDA

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On 22 March 2004, the Annual General Meeting of Invalda AB shareholders was

held which has resolved the following:

- approved the company’s Annual Report 2003, the financial accounts and profit

appropriation statement; declared dividend to the company’s shareholders in the

amount of LTL 0.05 per share of LTL 1 nominal value;

- elected the firm of  auditors KPMG Lietuva UAB auditor of the company and

determined conditions of remuneration for its services;

- approved the new wording of the company’s Articles of Association;

- empowered the Board to prepare conditions of reorganisation of the companies

Invalda AB, Pastana UAB, Kremi UAB and Gildeta AB.





Alvydas Banys

Vice President

(+370-5) 279 06 91