LIFOSA

MATERIAL EVENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



(Unofficial Translation Done at the NSEL)



On 30 April 2004, at 10.00 a.m., the Annual General Meeting of Lifosa AB

shareholders took place at the company’s premises at 50 Juodkiskio St.,

Kedainiai). The meeting resolved to:



1. Approve the Annual Report 2003 on the company’s performance. The meeting

stated that in 2002 the company earned an audited net profit of LTL 7,899,000

according to the IAS.

2. Approve the Auditor’s statement.

3. Approve the annual accounts for 2003.

4. Approve the profit appropriation.

5. Approve the firm of auditors PricewaterhouseCoopers UAB the company’s

auditor for 2004 and establish conditions of payment  for its services.

6. Sell the company’s long-term financial assets, i.e. blocks of Transfosa UAB

and Kemira-Lifosa UAB shares.

Authorize the company’s Board to prepare conditions of sale of the assets

specified above, taking into consideration the evaluation of independent

property appraisers. 

7. As the company Board members,  D.Perevalov, G.Jakovlev, A.Fedotova 

(more than ½ of the Board composition) resigned and moved to another job, the

AGM of shareholders elected the new Board of Lifosa AB of the following

composition: J.Dastikas, A.P.Markarianas, M.L.Mysliajeva, V.V.Rogalskis,

and Van den Blink.

8. Other issues were not placed for consideration.





Regvita Ivanoviene

Finance Director

(+370-347) 66 331