KLAIPEDOS BALDAI

MATERIAL EVENT



DECISIONS OF THE GENERAL SHAREHOLDERS’ MEETING



At the general shareholders’ meeting, which was held on 9 April 2002, the

following decisions were adopted:

1) to approve report on the company’s performance in 2001;

2) to approve auditor’s report;

3) financial statements of 2001 were approved (assets – LTL 53,291,035; net

profit – LTL 6,260,806;

4) to approve profit appropriation: it was decided not to pay dividends; to

form provisions for profit tax – LTL 1,743,000; to leave the remaining profit

of LTL 11,294,664 unappropriated due to the supplement of working assets;

5) to elect the following persons members of the  Council of Observers: Regina

Sajiene and Gintautas Rudis, representatives of AB Koncernas SBA, and Vygantas

Kirkutis, representative of AB Klaipedos Baldai;

6) to elect UAB ARTHUR ANDERSEN the company’s auditor, to establish

remuneration;

7) to approve the decision of the Management Board to prolong the loan

agreement regarding EUR 300,000  and to pledge long-term assets and stock.





Dalius Jarmalavičius

Economics Director

8-26-313958