SNAIGE

MATERIAL EVENT



CONVOCATION OF A GENERAL MEETING OF SHAREHOLDERS



(Unofficial translation done at the NSEL)

A general meeting of shareholders will be convened at 5 pm, on 14 March 2003,

in the company’s meeting hall (Pramonės str. 6, Alytus).

Shareholders’ registration starts at 2 pm, for which one must have an ID and

the statement from the securities account intended specifically for a general

meeting of shareholders.

Agenda includes:

1. Report of Snaigė AB Board on the company’s activity in 2002.

2. Auditors’ report for 2002.

3. Approval of the annual financial statements.

4. Approval of 2002 profit distribution.

5. Concerning transfer, pledge, lease of the long-term assets the aggregate

book value of which exceeds 1/20 of the company’s authorized capital, and using

these assets as a guarantee for other entities’ liabilities.

6. Concerning buying up of the company’s shares.

7. Amendments to the company’s by-laws.



Draft resolutions of the meeting will be available at the Budget Department of

Snaigė AB (room 411) as of 12 February 2003.





Virginija Graudinienė

Finance Director

(370 315) 56205