LIFOSA

MATERIAL EVENT



2002 ACTIVITY RESULT



(Unofficial translation done at the NSEL)



In 2002 Lifosa AB earned LTL 16.82 million pre-audit profit. The positive

result was the outcome of the restructuring of debts and recalculation of the

changes of Litas and US dollar exchange rate.

The specification of the activity result is being finalized and the final

result will be announced upon the receipt of the audit report and its approval

by the shareholders meeting.





Regvita Ivanovienė

Deputy Finance Director

(370 347) 66 331