MAŽEIKIŲ ELEKTRINĖ

MATERIAL EVENT



DECISION ADOPTED AT THE GENERAL SHAREHOLDERS' MEETING



On 25 June 2002, an extraordinary general meeting of shareholders of AB

Mazeikiu Elektrine took place.

The meeting resolved to:

1. Elect UAB Rezultatas the company's internal auditor for 2002 and to

establish that the fee for the audit services of the audit enterprise of

Mazeikiu Elektrine rendered in 2002 shall not exceed LTL 17.7thou.

2. To establish the loan limit of AB Mazeikiu Elektrine not exceeding LTL 8

million.





Vargina Ginkuvienė

Chief financier

(293) 97 258