LIFOSA

MATERIAL EVENT



THE ENTERPRISE RESTRUCTURING PROCEEDINGS WERE INITIATED



On 4 April 2002, Panevezys district court initiated restructuring proceedings

No. 2-230-11/2002 for the public company AB Lifosa (company code 6111045,

address  50 Juodkiskio St., LT-5030, Kedainiai). UAB Verslo Administravimo

Centras (Business Administration Centre) was appointed administrator (permit to

provide services of enterprise restructuring No.7), its authorised person

Vytautas Kazdailis (tel. 8 687 90445). The administrator accepts credit claims

with supporting documents until 1 July 2002, at AB Lifosa, 50 Juodkiskio St.,

LT-5030 in Kedainiai.





Mindaugas Gedvilas

Finance Director

8 (347) 66 595