Klaipedos Baldai AB

Company event



Resolutions of the general meeting of shareholders



The following resolutions were passed at the meeting of shareholders held on

April 19, 2005:

1) the Supervisory Board's Report was approved;

2) the Auditor's Report was approbated;

3) the Report on the 2004 activities of the company was approved;

4) the financial statements for the year 2004 (assets - LTL 79 658 thousand, net

profit - LTL 3 586 thousand) were approved;

5) the following profit appropriation was approved:

to allot LTL 60 thousand to reserve available for appropriation,

to make no other appropriations,

to leave unappropriated the residual profit in the amount of LTL 18 894

thousand, to allocate the funds for investment purposes.

6) the UAB "PricewaterhouseCooper" was elected as the company's firm of

auditors for 2004, and the remuneration for its services was established;

7) new wording of the Articles of Association of Klaipedos Baldai AB was

approved;

8) the following decisions of the Board were approved:

a) to extend the EUR 500 000 loan agreement with Vilniaus Bankas AB and pledge

the long-term assets and reserves;

b) to guarantee with all its property to bankas Hansabankas AB for the loan of

EUR 1 500 000 extended to  "SBA" baldų kompanija UAB;

c) to take additionally a loan in the amount of LTL 3 500 000 from bankas

Hansabankas AB to replenish the circulating assets;

d) to guarantee with all its property to bankas "Snoras" AB for the loan of EUR

10 000 000 extended to "SBA" baldų kompanija UAB and pledge the reserves.





Gintautas Misiukevicius

Head of Public Relations

+370-687-73355, +370-5-2101160