KLAIPEDOS BALDAI

MATERIAL EVENT



1.1CONVOCATION OF A GENERAL MEETING OF SHAREHOLDERS,1.2 CONCERNING ESTABLISHMENT

OF A SUBSIDIARY



(Unofficial translation done at the NSEL)



1.1 A general meeting of shareholders will be held at 1 pm, on 22 April 2002

at the company’s premises  (Joniškės st. 21,Klaipėda).

Agenda includes:

1) Election of an auditor for 2002, settlement of remuneration for audit

services;

2) The report on the company’s activity in 2002;

3) Auditor’s report;

4) Approval of the financial statements for 2002;

5) Approval of the draft distribution of the 2002 profit;

6) Election of an auditor for 2003, settlement of remuneration for audit

services;

7) Approval of the new version of the by-laws;

8) Pledging of assets.



1.2 The Board of Klaipėdos Baldai AB resolved to establish a subsidiary.





Dalius Jarmalavičius

Finance Director

(370 46) 313958